The three major U.S. equities indexes closed lower again on Friday for the fourth day in a row. The Nasdaq Composite closed down 2.7%. The Dow Jones industrial average lost 1.3%, and the S&P 500 closed down by 1.9%. Among S&P 500 stocks, losers outnumbered winners by slightly more than four to one in Friday’s trading. Ten of 11 sectors closed lower, led by communications services (down 3.4%), consumer cyclicals (down 2.9%) and materials (down 2.4%). Only the consumer staples sector (up 0.1%) closed higher.
Crude oil settled at $85.14 on Friday and traded down about 0.5% in early morning trading Monday at $84.85. The 10-year/two-year U.S. Treasury note spread ended the day at 0.742%, down about two basis points.
Here are the five S&P 500 stocks that closed with the biggest gains on Friday: CF Industries (up 2.64%), Ventas (2.22%), VF (2.06%), Baker Hughes (1.95%) and CarMax (1.92%).
Friday’s biggest losers among S&P 500 stocks were Netflix (down 21.79%), SVB Financial (10.21%), Huntington Bancshares (8.99%), Ecolab (8.48%) and Intuitive Surgical (7.93%).
As of 7:00 a.m. ET Monday morning, S&P 500 futures traded down about 0.11%, the Nasdaq traded down 0.29% and the Dow traded down about 0.14%.
The leading gainer among S&P 500 stocks in Monday’s premarket trading was NRG Energy Inc. (NYSE: NRG), up 1.74% at $39.87. The company raised its dividend by 8% on Friday.
Halliburton Co. (NYSE: HAL) traded up 1.56% at $27.97. The oilfield services company beat fourth-quarter estimates on both the top and bottom lines when it reported early Monday.
Analytics firm Nielsen Holdings PLC (NYSE: NLSN) traded up 1.48%. The company had no specific news.
Seed and crop protection firm Corteva Inc. (NYSE: CTVA) traded up 1.14% in Monday’s premarket. The company had no specific news.
Medical device maker ResMed Inc. (NYSE: RMD) traded up by 0.76% Monday. BofA Securities raised its rating on the company from Underperform to Neutral and lifted the price target from $239 to $250.
Stocks trading lower in Monday’s premarket session include Pfizer Inc. (NYSE: PFE), which traded down 3.16% at $51.12. The company reported that two studies showed its COVID-19 vaccine to be effective against the Omicron variant. An Israeli study showed that a fourth dose of vaccine offered better protection for older adults. Most Israelis have received the Pfizer-BioNTech vaccine.
Twitter Inc. (NASDAQ: TWTR) traded down about 2.6% Monday morning at $33.91. The company’s stock tumbled Friday following a report that Twitter was underperforming in the Global X Social Media index.
Ford Motor Co. (NYSE: F) closed down more than 4.5% on Friday and traded down by about 2.2% in Monday’s premarket. Last week, analysts at Jefferies downgraded the stock from Buy to Hold. The stock has dropped by about 20% since then.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) traded down by about 2.1% Monday morning, after dropping about 4.6% Friday. The cruise line operator said it would adopt the CDC’s COVID-19 program for cruise ships operating in U.S. waters.
Southwest Airlines Co. (NYSE: LUV) traded down by nearly 2% Monday morning. Southwest is expected to report earnings later this week.
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