U.S. equities closed lower on Friday after the release of key employment data while investors braced themselves for the election next week.
The Dow Jones industrial average ended about 40 points lower, withProcter & Gamble contributing the most losses. The S&P 500 fell nearly 0.2 percent and extended its losing streak to nine sessions, with consumer staples leading decliners.
The S&P's losing streak is the longest in almost 36 years. During that streak, the index has fallen nearly 3 percent.
The Nasdaq composite fell about a quarter of a percent. The three major indexes all posted weekly losses.
"Nobody wants to do anything today. ... Everybody is on hold for Tuesday," said JJ Kinahan, chief strategist at TD Ameritrade. "I think next week you'll start seeing Wall Street coronate winners and losers. What I mean is you're going to start seeing investors switching sectors very quickly."
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, rose 3.76 percent to trade near 22.9. The so-called fear gauge is also up more than 40 percent this week.
U.S. equities closed lower on Friday after the release of key employment data while investors braced themselves for the election next week.
The Dow Jones industrial average ended about 40 points lower, withProcter & Gamble contributing the most losses. The S&P 500 fell nearly 0.2 percent and extended its losing streak to nine sessions, with consumer staples leading decliners. The S&P's losing streak is the longest in almost 36 years. During that streak, the index has fallen nearly 3 percent.
The Nasdaq composite fell about a quarter of a percent. The three major indexes all posted weekly losses.
"The market is pricing in a Hillary Clinton victory, but it's also been pricing in a split ticket, with Clinton taking the White House and a split in Congress," said Tom Siomades, head of Hartford Funds Investment Consulting Group. 1
West Texas Intermediate touched its lowest level since January, trading at the $44 per barrel mark. WTI was down at settlement about 1.30% after testing the $44.75 in a bid to change momentum direction. The U.S. crude benchmark is down 10% on the week. Brent North Sea crude fared even worse, falling about 2.00%. 2
