U.S. equity markets ended Friday with varied results driven by sector-specific movements. While the Dow Jones Industrial Average fell by 0.58%, closing at 33,899.28 points, the S&P 500 index inched up by 0.03% to settle at 3,982.75, and the NASDAQ Composite gained 0.28%, finishing at 12,146.10 points.
Stronger performances in sectors such as Basic Materials, Consumer Services, and Oil & Gas contributed to the modest gains in some indexes. Shares of leading technology companies were among the most notable winners on the Dow Jones. Microsoft Corporation (NASDAQ:MSFT) surged by 3.28%, adding 14.81 points to close at 465.95. Amazon.com Inc (NASDAQ:AMZN) increased by 2.06%, ending at 239.16, and NVIDIA Corporation (NASDAQ:NVDA) gained 1.53%, closing at 187.67.
Conversely, Financials, Industrials, and Healthcare sectors dragged the Dow lower. Goldman Sachs Group Inc (NYSE:GS) fell sharply by 3.75% to 918.88, Caterpillar Inc (NYSE:CAT) dropped 3.37%, settling at 626.54, and Walt Disney Company (NYSE:DIS) declined by 1.97% to 110.98.
Within the S&P 500, top performers included Live Nation Entertainment Inc (NYSE:LYV), which rose 6.39% to 146.97, Fortinet Inc (NASDAQ:FTNT), up 5.15% to 81.62, and Gilead Sciences Inc (NASDAQ:GILD), which climbed 3.65% to close at 135.93. Meanwhile, Intel Corporation (NASDAQ:INTC) suffered a steep drop of 17.03% to 45.07, Capital One Financial Corporation (NYSE:COF) decreased 7.56% to 217.30, and Moderna Inc (NASDAQ:MRNA) fell 5.93% to 48.71.
On the NASDAQ Composite, extraordinary gains were registered in smaller-cap stocks. Urban One Inc Class D (NASDAQ:UONEK) soared 924.45% to 8.38, Movano Inc (NASDAQ:MOVE) increased 141.56% to 16.74, and Brand Engagement Network Inc (NASDAQ:BNAI) surged 89.72% to 16.43. In contrast, Aptera Motors Corp (NASDAQ:SEV) dropped 37.76% to 1.50, Erayak Power Solution Group Inc (NASDAQ:RAYA) declined 35.16% to 1.77, and OLB Group Inc (NASDAQ:OLB) was down 31.86% to 0.59.
Market breadth showed more declines than advances with 1,690 stocks falling versus 1,043 rising on the New York Stock Exchange. On the Nasdaq, 2,272 issues declined against 1,102 advancers. Several stocks reached notable price milestones: shares of Gilead Sciences hit an all-time high, increasing by 3.65%, while Aptera Motors and Erayak Power Solution Group hit all-time lows. Brand Engagement Network marked a 52-week high with its strong nearly 90% rise.
The CBOE Volatility Index (VIX), a gauge of S&P 500 options implied volatility, increased by 2.88% to 16.09, signaling mildly elevated market uncertainty.
Commodity markets saw gains as well. Gold futures for February delivery rose by 1.39% to $4,981.89 per troy ounce. Crude oil futures for March delivery climbed 3.20%, reaching $61.26 per barrel, with Brent crude also up 3.25% to $66.14 per barrel.
In forex trading, the euro strengthened against the U.S. dollar, with the EUR/USD pair up 0.70% to 1.18. The dollar weakened against the Japanese yen, falling 1.70% to 155.70, while the U.S. Dollar Index Futures declined 0.91% to 97.28.
These diverse equity market movements reflect ongoing fluctuations across sectors, influenced by individual company performances and broader economic factors impacting commodities and currencies.
On Friday, U.S. equity markets closed with mixed results as sector performances diverged. The Dow Jones Industrial Average dropped by 0.58%, weighed down by notable declines in financial, industrial, and healthcare stocks. Conversely, gains in basic materials, consumer services, and oil and gas sectors helped lift the S&P 500 marginally by 0.03% and the NASDAQ Composite by 0.28%. Key technology and entertainment names led advances within the indexes.
Key Points
- U.S. stock indexes closed mixed: Dow Jones down 0.58%, S&P 500 slightly up 0.03%, and NASDAQ up 0.28%.
- Technology and consumer services stocks drove gains, while financial, industrial, and healthcare sectors faced declines.
- Significant volatility was seen in smaller-cap stocks on NASDAQ with exceptional percentage movements, both positive and negative, affecting market breadth.
Risks
- Notable steep declines in key financial and industrial stocks suggest sector-specific vulnerabilities, impacting overall market stability.
- Sharp losses in some smaller-cap stocks indicate heightened risk in speculative areas of the market, especially in emerging companies.
- An uptick in the CBOE Volatility Index reflects increasing uncertainty that could influence future market movements and investor sentiment.