U.S. stocks had a mixed closing on Friday, with the Dow Jones Industrial Average gaining 0.33% to reach a new 6-month high. The S&P 500 and Nasdaq indexes, however, both experienced losses of 0.10% and 0.18% respectively.
Driving the gains were strong performances in the healthcare, technology, and consumer sectors. UnitedHealth Group Inc led the session as the best performer, rising 7.24% or 32.42 points to close at 480.17. Merck & Co and Coca-Cola also saw positive gains in late trade. Conversely, Chevron Corporation, The Dow Chemical Company, and Cisco Systems were the worst performers, each experiencing losses.
On the S&P 500, UnitedHealth Inc, Elevance Health Inc, and Cigna Corp were the top performers, while State Street Bank, DISH Network Corp, and Bank of New York Mellon were the worst performers.
The Nasdaq Composite saw Frequency Therapeutics Inc, EdtechX Holdings Acquisition Corp II, and Ainos Inc claim the top positions, while Theseus Pharmaceuticals Inc, Canopy Growth Corp, and Vivos Therapeutics Inc experienced the biggest losses.
In terms of market sentiment, 2,201 stocks on the New York Stock Exchange saw a decline, surpassing the number of stocks that closed higher. On the Nasdaq Stock Exchange, 2,478 stocks closed down, while 1,114 stocks rose. Meanwhile, 135 individual stocks remained mostly unchanged.
Several stocks hit record highs and lows, including Theseus Pharmaceuticals Inc, EdtechX Holdings Acquisition Corp II, Canopy Growth Corp, and Vivos Therapeutics Inc.
The implied volatility for S&P 500 options fell 1.98% to 13.34.
In commodities, August gold futures option contract declined by 0.20%, while WTI crude oil futures contract for August delivery fell 2.17%. The September London Brent crude oil futures contract also experienced a decline.
In the currency market, the exchange rate for EUR/USD remained stable, while USD/JPY saw a 0.57% increase. U.S. dollar index futures rose by 0.21% to 99.67.
Overall, the U.S. stock market had a mixed closing on Friday, with some sectors and individual stocks performing well while others faced losses. Investors continue to monitor market volatility and various factors that may impact future market trends.