Wall Street ended a holiday-shortened trading week negatively, with stocks closing lower across major indices. The S&P 500 experienced a decline of 1.1% on Friday, while the Dow Jones Industrial Average fell by 333 points, equivalent to a 0.8% drop. The tech-heavy Nasdaq composite also faced a downturn, dropping 1.5%. Notably, the influential “Magnificent 7” stocks, which include major players like Nvidia, Tesla, and Microsoft, significantly impacted the market’s performance. Despite this downturn, the S&P 500 recorded a modest gain for the week, indicating it is still on track for its second consecutive annual increase exceeding 20%, a feat not achieved since the 1997-1998 period. Additionally, the yield on the 10-year Treasury bond experienced a slight uptick.

On Friday, key figures reflected the market trends with the S&P 500 decreasing by 66.75 points to settle at 5,970.84. The Dow Jones Industrial Average saw a decline of 333.59 points, moving down to 49,992.21. The Nasdaq composite’s loss was recorded at 298.33 points, ending the day at 19,722.03. The Russell 2000 index, which represents smaller companies, dropped by 35.60 points to 2,244.59.

Looking at the weekly performance, the S&P 500 managed to gain 39.99 points, reflecting a 0.7% increase. The Dow, meanwhile, saw an uptick of 151.95 points, approximately 0.4%, while the Nasdaq experienced a rise of 149.43 points, or 0.8%. The Russell 2000 index ended the week up by 2.22 points, representing a slight gain of 0.1%.

Year-to-date results show that the S&P 500 is up significantly, gaining 1,201.01 points, which translates to a 25.2% increase. The Dow has also performed well, with an uptick of 5,302.67 points or 14.1%. The Nasdaq led the gains with a notable increase of 4,710.68 points, or 31.4%. The Russell 2000 recorded a gain of 217.52 points, which is a 10.7% rise for the year.