uploads///SP

How Did the S&P 500 and NASDAQ Perform?

By

Jul. 3 2017, Published 8:24 a.m. ET

S&P 500

After trading with increased volatility and ending June 29 with a loss, the S&P 500 started higher on Friday. Six out of 11 major S&P 500 sectors rose on Friday. The rally in the industrials and consumer discretionary sectors helped support the market. No substantial weakness was observed in the S&P 500’s major sectors.

Article continues below advertisement

S&P 500 recorded the best first half since 2013

Increased volatility was observed in the trading week ending on June 30. There was sector rotation in the market at the end of the second quarter. There was a pullback in the technology sector in June amid questions about the IT sector’s high valuations. Movements in the crude oil market were also impacted the market’s volatility. The market opened with improved sentiment amid a modest rise in US consumer spending. According to reports, US consumer spending rose 0.1% in May. The S&P 500 rose 8.3% in 1H17 and recorded the best first half since 2013.

Volatility Index

On Friday, the S&P 500 started higher and traded in a range. The S&P 500 VIX Index (CBOE Volatility Index) measures uncertainty in the market. On June 30, it fell 2.3% to 11.18. The VIX Index is measured on a scale of 1–100 with 20 as the historical average. It’s also called the “fear index.” Generally, it moves opposite to stocks’ movements and rises when the S&P 500 falls.

NASDAQ and Dow

Similar to the S&P 500, the NASDAQ Composite Index and Dow Jones Industrial Average opened higher on Friday. Strength in the technology sector boosted NASDAQ’s performance in 1H17. NASDAQ rose 14.1% in 1H17 and recorded the best first half since 2009. On June 30, NASDAQ fell 0.06% and closed the day at 6,140.42. The Dow Jones Industrial Average rose 0.29% and closed at 21,349.63.

In the next part, we’ll discuss Wall Street’s top and bottom performers on June 30.

Advertisement

More From Market Realist