U.S. Market Indexes Flat on Friday as Economic Indicators Point Economy Lower

Market’s opened lower Friday after the jobs report showed a jobs increase much lower than consensus. The Bureau of Labor Statistics reported an increase of 160,000 jobs and consensus was 200,000. The market rebounded slightly to end above zero for the day The Dow Jones Industrial Average closed at 17,740.50 for a loss of 79.79 points or 0.45 percent. The S&P 500 was also higher, closing at 2,057.14 for a gain of 6.51 points or 0.32 percent. The Nasdaq Composite was at 4,736.16 for a gain of 19.06 points or 0.40 percent.

Economic Indicators

The week’s jobs report confirms the market’s momentum towards a lower economic downtrend. An increase of 160,000 jobs is much lower than the consensus of 200,000 and the unemployment’s rate remaining at 5 percent confirms that market activity is not exactly stabilizing with companies not as willing to hire in the current environment.

This jobs report will likely have an affect on the Fed’s decision for a June rate hike. Most economists were expecting a June rate hike and then a subsequent rate hike later in the year, if the jobs report is as great of an indication as usual and China’s weakening still remains on the docket then one further rate hike could be likely for 2016.

Other market indicators for the week were as follows:


Daily Market Movers

No major earnings reports for the Dow Jones Industrial Average were reported Friday however Microsoft was one of the market’s most actively traded stocks for the day. Apple also led in volume trading and General Electric traded higher with a gain of 1.0 percent.

Other leading stock movers Friday according to CNN included the following:

BAC Bank of America Corp            14.12     +0.07     +0.46 percent

ENDP Endo International PLC      15.85     -10.74    -40.41 percent

FCX Freeport-McMoRan Inc        11.86     +0.57     +5.05 percent

CHK Chesapeake Energy Corp     5.16        -0.56      -9.72 percent

FB Facebook Inc                119.24   +1.43     +1.22 percent

SO Southern Co 49.50     -1.12      -2.21 percent

MRO Marathon Oil Corp               12.10     +0.03     +0.25 percent

The Nasdaq Composite closed lower for the day at 4,736.16 for a gain of 19.06 points or 0.40 percent. Earnings from Apple and MSFT were the most actively traded however they mainly traded in the lower quadrant of the Dow 30 with Walmart and IBM leading the Dow Jones Industrial Average. In the broader market materials and technology led the day’s gains while healthcare and utilities led the day’s losses.

Small-Cap Stocks

In small-caps, the Russell 2000 ended the day at 1,114.71 for a gain of 6.77 points or 0.61 percent. The S&P 600 Small-Cap Index closed 687.93 for a gain of 5.89 points or 0.86 percent. The Dow Jones Small-Cap Growth TSM Index closed at 6,825.57 for a gain of 27.60 points or 0.41 percent. The Dow Jones Small-Cap Value TSM closed at 8,154.71 for a gain of 60.40 points or 0.75 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index which closed at 1,452.71 for a gain of 6.23 points or 0.43 percent. The Russell 3000 which closed at 1,210.55 for a gain of 4.18 points or 0.35 percent and the Dow Jones U.S. Select Dividend Index which closed at 585.10 for a gain of 0.94 points or 0.16 percent.

Julie Young


Julie Young is a Senior Market Reporter and Analyst

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