Wall Street ended Friday's rocky session in the green as stocks tried to recover from Thursday's major sell off. However, all three major market benchmarks closed the week with losses, with the Dow Jones dipping 5.55%, S&P 500 dropping 4.78% and the Nasdaq slipping 2.30%. Market sentiment around economic reopening has turned negative as signs of a coronavirus resurgence are cropping up around the country. stocks were volatile are they aimed to recover from their biggest self-off
In Stock Sector News, most sectors carried Friday's session gains to close, with only Utilities -0.22% and Consumer Staples -0.18% following into negative territory. The performance gains were as follows: Real Estate +3.16%, Financials +3.01%, Energy +2.71%, Industrials +1.95%, Materials +1.94%, Information Technology +1.34%, Communication Services +0.9%, Consumer Discretionary +0.73% and Health Care +0.70%.
In Commodity and Currency News, crude oil futures slightly gained on Friday, but ended the week in the negative as the pandemic reignited future demand fears this week. West Texas Intermediate
Meanwhile, consumer sentiment increased for its second consecutive month in June, according to the University of Michigan's preliminary monthly report released on Friday. Headline consumer sentiment rose to 78.9 in June from 72.3 in May.
As the market heads into Monday, investors will mainly focus on weekend coronavirus updates. Federal Chairman Jerome Powell is also set to speak on Tuesday and Wednesday.
"The turnaround is largely due to renewed gains in employment, with more consumer expecting declines in the jobless rates than at any other time in the long history of the Michigan surveys," Richard Curtin, chief economist for the Surveys of Consumer, said in a statement. "Despite the expected economic gains, few consumers anticipate the reestablishment of favorable economic conditions anytime soon. Bad times financially in the economy as a whole during the year ahead were still expected by two-thirds of all consumers, and a renewed downturn was anticipated by nearly half over the longer terms."
Here's how the market settled to end the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, tech leaders come under pressure during Friday's session, with Amazon
In Stock Sector News, most sectors carried Friday's session gains to close, with only Utilities -0.22% and Consumer Staples -0.18% following into negative territory. The performance gains were as follows: Real Estate +3.16%, Financials +3.01%, Energy +2.71%, Industrials +1.95%, Materials +1.94%, Information Technology +1.34%, Communication Services +0.9%, Consumer Discretionary +0.73% and Health Care +0.70%.
In Commodity and Currency News, crude oil futures slightly gained on Friday, but ended the week in the negative as the pandemic reignited future demand fears this week. West Texas Intermediate
As the market heads into Monday, investors will mainly focus on weekend coronavirus updates. Federal Chairman Jerome Powell is also set to speak on Tuesday and Wednesday.
