The Dow Jones Industrial Average closed at 30,996.98 on Friday with a loss of 179.03 points or -0.57%. The S&P 500 closed at 3,841.47 for a loss of 11.60 points or -0.30%. The Nasdaq Composite closed at 13,543.06 for a gain of 12.15 points or 0.09%. The VIX Volatility Index was higher at 21.85 for a gain of 0.53 points or 2.49%.

For the week, the Nasdaq gained 4.2%, the S&P 500 gained 1.9% and the Dow Jones gained 0.6%. For the year, the S&P 500 is up 2.3%, the Dow Jones has a gain of 2.5% and the Nasdaq has a return of 5.09%.

Friday’s market movers

U.S. stocks closed mostly flat for a second day. The Nasdaq Composite reported a new closing high.

Joe Biden signed 15 executive orders and two executive actions in his first day of office, many of which were focused on helping fight the Covid pandemic. As such, investors turned much of their concern back to daily cases, daily deaths and the current state of the economy due to Covid. The National Guard also reported approximately 200 new cases following the inauguration efforts.

Across the board:

  • Biotech led gains.
  • Cannabis led losses.
  • Moneygram (NASDAQ:MGI) gained 7.22% with its announcement of a Checkout.com partnership.
  • GameStop (NYSE:GME) +51.08%
  • Adamis Pharmaceuticals (NASDAQ:ADMP) +40.94%

In other news:

  • House Representative Nancy Pelosi will deliver impeachment papers to the Senate on Monday.
  • Biden’s $1.9 trillion stimulus plan is expected to see resistance from the Senate.
  • The Markit Composite PMI increased to 58 in January from 55.3. Separately, the Markit Manufacturing PMI increased to 59.1 from 57.1 and the Markit Services PMI increased to 57.5 from 54.8.
  • Existing home sales increased 0.7% in December to a seasonally adjusted annual rate of 6.76 million.
  • Crude oil inventory increased by 4.4 million barrels, according to the EIA’s Weekly Petroleum Status Report.
  • The Baker Hughes oil rig count showed an increase of five rigs in the U.S., an increase of 11 rigs in Canada and a decrease of four rigs internationally.

Small-cap stocks

In small caps, the Russell 2000 closed at 2,168.76 for a gain of 27.34 points or 1.28%. The S&P 600 closed at 1,231.70 for a gain of 15.47 points or 1.27%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,130.06 for a gain of 140.25 points or 0.94%. The Dow Jones U.S. Small-Cap Value Index closed at 9,702.40 for a gain of 81.95 points or 0.85%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,462.53 for a gain of 9.29 points or 0.38%; the S&P 100 at 1,764.21 for a loss of 2.65 points or -0.15%; the Nasdaq 100 at 13,366.40 for a loss of 38.59 points or -0.29%; the Russell 3000 at 2,317.26 for a loss of 3.52 points or -0.15%; the Russell 1000 at 2,175.88 for a loss of 5.57 points or -0.26%; the Wilshire 5000 at 40,444.55 for a loss of 52.19 points or -0.13%; and the Dow Jones U.S. Select Dividend Index at 715.43 for a loss of 2.72 points or -0.38%.

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About the author:

Julie Young

Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.