The Dow Jones Industrial Average closed lower on Friday (Nov 19), dropping for the fourth day in the past five trading days. Because investors are worried about the spread of COVID-19. new wave in europe and the enforcement of lockdown measures that will affect the global economy.
The Dow Jones Industrial Average closed at 35,601.98, down 268.97, or -0.75%, the S&P500 closed at 4,697.96, down 6.58, or -0.14%, and the Nasdaq closed at 16,057.44, up 63.73, or +0.40%.
The Nasdaq Index closed above 16,000 for the first time. and closed up for a second day in a row, supported by rising tech stocks.
in this week The Dow was down 1.4 percent for the second straight week and fell 2.3 percent from a record high set on Nov. 8. The Nasdaq and S&P 500 were up 1.2 percent and 0.3 percent, accordingly. number
Banking, energy and airline stocks fell on Friday. from the concern that Several European countries, which are facing rising numbers of COVID-19 cases, may follow Austria to impose nationwide lockdowns.
Banking stocks fell 1.6 percent following a fall in bond yields. After investors buy bonds, which are safe assets.
S&P index of energy stocks The biggest drop was 3.9 percent as crude oil prices plummeted on the downward trend in oil demand.
Travel and leisure shares also dropped, with Delta Airlines, United Airlines, American Airlines, Norwegian Cruise Line and Carnival down 0.6-2.8 percent.
But tech stocks have been boosted by lower bond yields. Facebook was up 1.95 percent, Apple was up 1.7 percent and Microsoft was up 1.54 percent.
Chip maker India Corp rose 4.1 percent, closing its highest gain for a third day in a row, while the Philadelphia-based semiconductor index rose 0.3 percent to its highest close to . Record for the third time in 4 business days.
Investors are also keeping their eye on the new Fed chairman, with President Joe Biden likely to nominate the next Fed chair this weekend.
Fed Chairman Jerome Powell and Fed governor Lael Bernard are the two favorites to be named as the new Fed chairman. Powell will complete his four-year term in February. 2022
It is expected that If Biden nominates Powell as Fed chairman for a second term, he could nominate Brenard as Fed vice president of governance. which will be responsible for the regulation of the US stock market