Stock Market News For Feb 12, 2018
Zacks Investment Research | Feb 11, 2018 10:04PM ET
Benchmarks managed to close in the green on Friday despite a tumultuous week. Moreover, the CBOE Volatility Index declined but remained three times higher than last year’s average. Further, all three key U.S. indexes registered their worst weekly decline in two years following increase in inflation and higher bond yields.
Markets slipped into a correction during the week, with the Dow witnessing two 1,000-point drops during the period. Both the S&P 500 and the blue-chip index registered their worst weekly fall since January 2016, while the Nasdaq posted its biggest weekly drop since February 2016.
How the Benchmarks Fared?
The Dow Jones Industrial Average (DJI) increased 1.4%, or 331.75 points, to close at 24,190.90. The S&P 500 rose 1.5% to close at 2,619.55. The tech-laden Nasdaq Composite Index closed at 6,874.49, gaining 1.4%. The fear-gauge CBOE Volatility Index (VIX) decreased 13.2% to close at 29.06. A total of around 12 billion shares were traded on Friday, higher than the last 20-session average of 8.5 billion shares. Advancers outnumbered decliners on the NYSE by a 1.43 -to-1 ratio. On Nasdaq, a 1.36-to-1 ratio favored advancing issues.
Markets Recover For The Day
All the key U.S. indexes made a recovery during the last hour of trading to end in positive territory on Friday. The movement lacked specific catalysts even as the blue-chip index registered an increase of more than 300 points. For the S&P 500 index, 10 out of 11 sectors increased over the day.
The Technology Select Sector SPDR (XLK) jumped 2.5%, becoming the best performing sector among the S&P 500. Some of its key holdings, including Alphabet Inc. (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT) increased 3.8% and 3.7%, respectively.Alphabethas a Zacks Rank #3 (Hold), Microsoft holds a Zacks Rank #2 (Buy). You can see Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.