US stocks end lower, but Nasdaq posts new record close

Economies.com
2021-01-22 21:58PM UTC

Most of the major US stock indices fell on Friday, but Nasdaq managed to close at a new record, and all the indices posted weekly gains.

 

The coronavirus crisis continues to cast its shadow over global markets today, especially as the number of infections and deaths is still increasing.

 

US President Joe Biden said that things will get worse before they get better, after the Covid-19 death toll exceeded 400,000 victims, with more than 4,000 deaths in a single day.

 

The US manufacturing PMI rose to 59.1 points in December, beating forecasts of 56.6 points.

 

The US services PMI rose to 57.5 in December, also higher than forecasts of 53.3.

 

To the oil market, WTI crude February futures fell 1.6% or 86 cents, and closed at $52.27 a barrel, with a 0.2% weekly loss, after hitting a day high of $53.1 and a low of $51.4.

 

Brent March futures fell 1.2% or 69 cents, and closed at $55.41 a barrel, but posted weekly gains of 0.6%, after hitting a high of $56.03 and a low of $54.8.

 

As for stocks, Dow Jones fell 0.6% or 179 points, and closed at 30,996, with a weekly gain of 0.6%, a day high of 31,141, and a low of 30,908.

 

S&P 500 fell 0.3% or 11 points to 3,824, and posted a weekly gain of 1.9%, after hitting a high of 3,852 and a low of 3,830.

 

Nasdaq rose 0.1% or 12 points to 13,543, and registered a 4% weekly gain, with a high of 13,567 and a low of 13,463.

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