The S&P 500 and the Nasdaq ticked higher on Friday, while the Dow ended in negative zone amid mixed fourth-quarter earnings results. Market participants gauged key inflation data and expected the Federal Reserve’s rate cuts in March.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) declined 0.3% or 118.04 points to close at 37,592.98. Notably, 15 components of the 30-stock index ended in positive territory, while 15 ended in negative zone.
The tech-heavy Nasdaq Composite finished at 14,972.76, rising 0.02% due to the strong performance of large-cap technology stocks. The major gainer of the Nasdaq Composite was MercadoLibre, Inc. MELI, after jumping 4.2%. MercadoLibre currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The S&P 500 gained 0.1% to finish at 4,783.83. Out of 11 broad sectors of the benchmark, seven ended in positive territory, while four finished in red. The Energy Select Sector SPDR (XLE), the Real Estate Select Sector SPDR (XLRE) and the Utilities Select Sector SPDR (XLU) rose 1.1%, 0.8% and 0.6%, respectively, while the Consumer Discretionary Select Sector SPDR (XLY) declined 1.2%.
The fear-gauge CBOE Volatility Index (VIX) increased 2.1% to 12.70. A total of 10.57 billion shares were traded on Friday, lower than the last 20-session average of 12.06 billion. The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 134 new highs and 86 new…
