How the day closed: indexes, leaders, laggards, and volatility.
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This is the CAMS Closing Market Recap for Friday, August fourteenth.
The big indexes ended the week with a small step back, and the small ones did not. The S and P 500 finished about two tenths of a percent lower, the Nasdaq 100 slipped a little over a tenth, and the Dow gave back roughly two tenths. The Russell 2000 went the other way, adding half a percent.
Breadth inside the Dow leaned negative, sixteen of the thirty names lower against thirteen higher. Dow Inc led the gainers, up more than two percent, with Disney and Chevron behind it. Salesforce sat at the bottom, off about two and a half percent.
Sector leadership told the clearer story. Seven of the eleven groups finished higher, with strength in the physical corners of the market. Energy led, up close to one and a half percent. Utilities added six tenths and materials four tenths. The soft side was health care, down six tenths, technology, off four tenths, and consumer discretionary, down two tenths.
Volatility stayed calm through it. The VIX closed near fourteen and a quarter, down roughly two and a half percent, toward the quiet end of its summer range.
The day in one sentence: rotation rather than retreat, with heavy old economy groups and smaller companies absorbing what came out of large cap technology, and no visible anxiety while it happened.
This morning brought retail sales and the first read on consumer sentiment and inflation expectations. Monday is quiet in the United States, with Canadian inflation the main release. The larger item lands Wednesday afternoon, when minutes from the last Federal Reserve meeting are published, followed by jobless claims and the Philadelphia Fed manufacturing survey on Thursday.
The desk will be watching whether next week keeps rewarding those same corners, or hands leadership back to technology.
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