The U.S. stock market ended the trading session on Friday, December 11, largely with a fall in the key indices. Two of the three key stock indices ended up in the red in the middle of a deadlock in stimulus package talks, and the financial community was haunted by the looming possibility of a new government shutdown. Therefore, on the day the external context for the market session was not the most effective.
A temporary measure that will allow public services to work for another week has still been approved by the U.S. authorities, but lawmakers will have to find ways to address the disagreements during this period.
Meanwhile the macroeconomic statistics released on Friday were favorable: the University of Michigan’s preliminary consumer confidence index in December was 81.4 points with projections at 76.5 points, and the preliminary index of current conditions was 91.8 points with an estimated level of 87 points.
The blue-chip Dow Jones Industrial Average gained 47.11 points or 0.16% to 30,046 points at the end of the day while the broad-based Standard & Poor’s 500 index dropped 4.64 points or 0.13% to 3,663 points. High-tech industries’ NASDAQ Composite index dropped 27.94 points, or 0.23 percent, to 12,377.
The S&P 500 index’s weekly losses were 0.96%, the Dow Jones -0.57%, and the Nasdaq Composite lost 0.69%.
On the commodity market, NYMEX’s light crude oil futures for January dropped 21 cents to $46.57 per barrel, while the gold price for COMEX’s January delivery grew from $6.2 to $1841.4 per troy ounce.
Goldman Sachs, Boeing, American Express and others lost more than 1% in the blue-chip index, while Honeywell, Microsoft and Walt Disney gained more than 1%, with the latter jumping 13.6%.
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After an unprecedented growth of more than 112 percent a day earlier, American home rental service Airbnb, which carried out an IPO last Thursday, retreated 3.8 percent in Friday trading.