- By Julie Young
U.S. market indexes were lower on Friday. The Dow Jones Industrial Average closed at 24,754.06 for a loss of -28.23 points or -0.11%. The S&P 500 Index closed at 2,683.34 with a loss of -1.23 points or -0.05%. The Nasdaq Composite Index closed at 6,959.96 for a loss of -5.40 points or -0.08%. The VIX Volatility Index was higher at 9.85 for a gain of 0.23 points or 2.39%.
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Warning! GuruFocus has detected 2 Warning Signs with COO. Click here to check it out.
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The intrinsic value of NKE
Friday"s market movers
Stocks were lower on Friday, but indexes reported a weekly gain. President Donald Trump signed the tax reform legislation into law, decreasing the corporate tax rate to 21% from 35%. For the week, the Dow gained 0.4%, the S&P 500 gained 0.2% and the Nasdaq gained 0.2%.
Economic reports affecting market trading included the following:
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Durable goods orders were 1.3% higher for the month and 8.2% higher for the year.
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Personal income increased 0.3% for the month.
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The PCE Price Index increased 1.8% for the year.
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New home sales increased to a seasonally adjusted annual growth rate of 733,000.
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The University of Michigan"s Consumer Sentiment Index was reported at 95.9, decreasing from 96.8.
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The Baker Hughes rig count decreased to 1,141 from 1,168.
In the Dow Jones Industrial Average, the following stocks led losses:
Nike (NKE) -2.29%
Walt Disney (DIS) -0.82%
Goldman Sachs (GS) -0.78%
UnitedHealth (UNH) -0.76%
Merck (MRK) -0.42%
JPMorgan (JPM) -0.35%
In the broad market, health care and financial stocks led losses. Technology was also lower with the S&P 500 technology sector down -0.06%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1,542.93 for a loss of -4.18 points or -0.27%. The S&P 600 Index closed at 939.34 for a loss of -2.82 points or -0.30%. The Dow Jones Small-Cap Growth TSM Index closed at 9,456.58 for a loss of -12.62 points or -0.13%. The Dow Jones Small-Cap Value TSM Index closed at 10,280.43 for a loss of -16.58 points or -0.16%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,904.58 for a loss of -0.60 points or -0.03%; the S&P 100 Index at 1,189.02 for a loss of -1.37 points or -0.12%; the Russell 3000 Index at 1,588.25 for a loss of -0.79 points or -0.05%; the Russell 1000 Index at 1,486.77 for a loss of -0.47 points or -0.03%; and the Dow Jones U.S. Select Dividend Index at 705.18 for a gain of 1.86 points or 0.26%.
This article first appeared on GuruFocus.
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Warning! GuruFocus has detected 2 Warning Signs with COO. Click here to check it out.
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The intrinsic value of NKE