Lola Evans
23 Jan 2021, 07:30 GMT+10
NEW YORK, New York - U.S. industrial stocks closed lower on Friday as fears of prolonged lockdowns due to the coronavirus kept buyers at bay.
The energy sector was among the loss-leaders. The techs made minor gains.
"Any delay or setback in the reopening theme is probably going to be a headwind for the energy sector," Andrew Mies, chief investment officer at 6 Meridien in Wichita, Kansas told Reuters Thomson Friday.
"But the market is telling you that its confidence in the cyclicals are diminished right now."
At the close of trading Friday, the Dow Jones Industrial Average was down 179.03 points, or 0.57%, at 30,996.98.
The Standard and Poor's 500 fell 11.60 points, or 0.30%, to 3,841.47.
The Nasdaq Composite nudged higher, adding 12.15 points, or 0.09%, to 13,543.06.
Profit-taking saw a mini-revival in the U.S. dollar on Friday. The euro however was little changed at 1.2168. The British pound edged down to 1.3680, while the Japanese yen weakened to 103.83. The Swiss franc was unchanged at 0.8854.
The Canadian dollar declined to 1.2725. The Australian dollar fell sharply to 0.7715. The New Zealand dollar also dived, to 0.7180.
The Nasdaq Composite nudged higher, adding 12.15 points, or 0.09%, to 13,543.06 - just short of a new record high of 13,567.10 hit earlier in the day.
Overseas, the FTSE 100 in London lost 0.30 percent. The German Dax dropped 0.24 percent. The Paris-based CAC 40 dived 0.56 percent.
On Asian markets, in Tokyo, the Nikkei 225 fell 125.41 points or 0.44 percent to 28,631.45.
The Australian All Ordinaries declined 28.20 points or 0.40 percent to 7,078.90.
The Hang Seng in Hong Kong tumbled by 479.91 points or 1.60 percent to 29,447.85.
China's Shanghai Composite declined 14.51 points or 0.40 percent to 3,606.75.
Get a daily dose of Memphis Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Memphis Sun.
More InformationWASHINGTON DC: Even as the U.S. Centers for Disease Control and Prevention is monitoring outbreaks of the Ebola virus in ...
WASHINGTON DC: The U.S. Centers for Disease Control and Prevention reports that it has distributed 96,402,290 doses of Covid vaccines ...
WASHINGTON DC: An additional 3 million acres of land in the United States will come under federal protection following the ...
FRESNO COUNTY, California: There is new hope for those anxiously awaiting the coronavirus vaccine, as thousands of doses of the ...
A California healthcare provider is no longer receiving supplies of COVID vaccinations after their staff members allegedly allowed ineligible people ...
Rocked by another horrific scandal, the Coalition Government has again attempted to avoid confronting the issue of an alleged rape ...
PLANO, Texas: The head of the nation's third largest chain of cinemas sees an end to the business lockdown which ...
NEW YORK, New York: A state court has granted a temporary ruling allowing 90 New York bars and restaurants to ...
SYDNEY, NSW, Australia - Stocks in Asia initially extended gains following an overnight rally in Europe and Wall Street."There's everything ...
NEW YORK, New York: After delisting three of China's biggest telecommunications companies this year - China Mobile, China Telecom, and ...
NEW YORK, New York - U.S. stocks made a solid comeback on Monday, following last week's puncturing losses.All the major ...
WASHINGTON DC: A group of eight bipartisan governors from U.S. auto states has written to U.S. President Joe Biden asking ...