U.S. Market Indexes Lower from Election Affects

Fri Oct 28 2016
Jim Andrews (507 articles)
U.S. Market Indexes Lower from Election Affects

U.S. market indexes were lower Friday. For the day the Dow Jones Industrial Average closed at 18161.19 for a loss of -8.49 points or -0.05 percent. The S&P 500 closed at 2126.41 for a loss of -6.63 points or -0.31 percent. The Nasdaq Composite closed at 5190.10 for a loss of -25.87 points or -0.50 percent. The VIX Volatility Index closed higher for the day at 16.38 for a gain of 1.02 points or 6.64 percent.

Friday’s Market Movers

Stocks were effected by an announcement from the FBI investigating Hillary Clinton’s email case. The following economic reports also influenced the day’s trading:

  • Employment Cost Index increased 0.6 percent in the third quarter
  • First estimate of GDP for the third quarter at 2.9 percent, up from 1.4 percent in the second quarter
  • Michigan Consumer Sentiment Index at 87.2 for October following 91.2 in September

Stocks trading actively for the day included the following:

Bank of America

General Electric

Chesapeake Energy

Apple

Microsoft

Ford

McKesson

Pfizer

AbbVie

In the Dow Jones Industrial Average, the following stocks led losses:

Merck -4.00

Exxon -2.46

Pfizer -1.69

UnitedHealth -1.12

American Express -0.72

Apple -0.69

Sectors leading losses included healthcare and financial stocks. Technology stocks were also lower with the S&P technology sector down 0.11 percent. Stocks leading losses in technology included the following:

CA Inc. -4.15

Electronic Arts -3.95

Frontier Communications -3.36

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.57 points or 0.47 percent. The dollar was lower for the day as the U.S. Dollar Index was down -0.63 points or -0.64 percent to 98.30.

Small-Cap Stocks

In small-caps, the Russell 2000 Index closed at 1187.61 for a loss of -2.33 points or -0.20 percent. The S&P 600 Small-Cap Index closed at 718.63 for a loss of -0.69 points or -0.10 percent. The Dow Jones Small-Cap Growth TSM Index closed at 7178.14 for a gain of 1.61 points or 0.02 percent. The Dow Jones Small-Cap Value TSM Index closed at 8460.08 for a loss of -28.46 points or -0.34 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1499.71 for a loss of -1.34 points or -0.09 percent; the S&P 100 Index at 945.32 for a loss of -4.67 points or -0.49 percent; the Russell 3000 Index at 1254.66 for a loss of -3.38 points or -0.27 percent; the Russell 1000 Index at 1176.98 for a loss of -3.24 points or -0.27 percent; and the Dow Jones U.S. Select Dividend Index at 598.01 for a gain of 1.32 points or 0.22 percent.

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York