How the day closed: indexes, leaders, laggards, and volatility.
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This is the CAMS Closing Market Recap for Friday, August seventh.
Stocks closed out the week on the front foot, and the leadership sat squarely on the growth side. The Nasdaq 100 finished up about one point two percent, the Russell 2000 up roughly one point one, and the S&P 500 added about six tenths of a percent. The Dow trailed the group at a quarter of a percent.
Nine of the eleven sectors finished higher. Consumer discretionary led at about one and a half percent, technology just behind at one point four, and materials up one point three. Staples ended essentially flat, financials slipped about a third of a percent, and energy was the soft spot, down roughly one point one percent.
Inside the Dow, twenty of the thirty components advanced. Salesforce was the strongest name, up about three percent, with Honeywell and Nvidia each up a little over two. At the weak end, Dow Incorporated fell about three percent, Visa a bit over two, and Caterpillar one and seven tenths.
Volatility drifted lower. The VIX eased about one and a half percent to just under fifteen, keeping it near the low end of its recent range.
The character of the day was a quiet, broad advance, with cyclical growth and small caps carrying the tape while energy and financials sat it out.
The calendar goes quiet through the weekend and Monday. Overnight Tuesday brings the Reserve Bank of Australia rate decision. The main event arrives Wednesday morning with the consumer price index, followed by producer prices and jobless claims on Thursday, and retail sales on Friday.
Into next week, the desk will be watching whether that growth-led leadership stays intact ahead of the inflation data, or whether breadth narrows the way it often does before a major print.
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