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SPI -11 @ 5650
Equities closed mixed on Friday after the initial fourth-quarter GDP read fell short of estimates, but managed to record weekly gains of around 1 percent.
The Dow Jones industrial average slipped 10 points but held above 20,000, with Chevron and
Goldman Sachs contributing the most losses. Chevron shares declined after the firm reported disappointing quarterly results.
The
Energy Select Sector SPDR Fund ETF (XLE) fell 1 percent. Also weighing energy stocks were falling crude prices, with
WTI dropping 1.13 percent to settle at $53.17 a barrel.
The S&P 500 slipped 0.1 percent, with real estate and energy leading decliners, while the Nasdaq composite closed 0.1 percent higher.
"The market probably got a bit ahead of itself with all these proposed changes from the new administration," said Sean O'Hara, president of Pacer ETF Distributors. "The results have to match the expectations." The three major large-cap indexes hit record highs earlier in the week.
The dollar shrugged off disappointing US fourth-quarter gross domestic product growth numbers to extend its rally against a basket of currencies, and US Treasury debt yields slipped as the data spurred buying of US government debt. 1
Oil $53.20
Copper + 1%
Nickel + 1.37%
Zinc - .18%
Gold + .25%
Silver + 2.2%
Have a good day
CNBC
