Major US Stock Indexes: Mixed Performance on Friday, 12/13/2024
Wesley ParkFriday, Dec 13, 2024 4:26 pm ET
4min readOn Friday, December 13, 2024, major US stock indexes closed mixed, with the S&P 500 and Dow Jones Industrial Average (DJIA) slipping slightly, while the Nasdaq Composite edged up. The Russell 2000 index of smaller companies fell 0.6%. Sector-wise, technology stocks were mixed, with Broadcom surging after beating profit targets and highlighting AI products, while Adobe fell after issuing weak forecasts. Energy stocks were up, led by ExxonMobil and Chevron, while consumer goods were mixed, with RH surging after raising revenue forecasts. Treasury yields rose in the bond market.
For the week, the S&P 500 was down 0.6%, the Dow was down 1.8%, the Nasdaq was up 0.3%, and the Russell 2000 was down 2.6%. Year-to-date, the S&P 500 was up 26.9%, the Dow was up 16.3%, the Nasdaq was up 32.7%, and the Russell 2000 was up 15.8%.
The mixed performance of the major US stock indexes on Friday was driven by a combination of sector-specific factors, individual stock performance, and broader market concerns. The energy sector's performance was particularly notable, as it was one of the few sectors to post a weekly gain. Despite the weekly decline in the S&P 500 and DJIA, both indexes remain up significantly year-to-date, reflecting the overall strength of the US stock market.
The Russell 2000 index of smaller companies fell 14.19 points, or 0.6%, to 2,346.90 on Friday, underperforming the broader market. This decline can be attributed to several factors, including the index's sensitivity to economic conditions and interest rate changes, the recent rise in interest rates, and geopolitical tensions and labor market dynamics.
In conclusion, the mixed performance of the major US stock indexes on Friday was driven by a combination of sector-specific factors, individual stock performance, and broader market concerns. The energy sector's performance was particularly notable, as it was one of the few sectors to post a weekly gain. Despite the weekly decline in the S&P 500 and DJIA, both indexes remain up significantly year-to-date, reflecting the overall strength of the US stock market. The Russell 2000 index of smaller companies underperformed the broader market, driven by factors such as sensitivity to economic conditions and interest rate changes, the recent rise in interest rates, and geopolitical tensions and labor market dynamics.
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