CLOSING MARKETS: Friday, February 26
Trading volume was fairly light for most of the day as a blizzard pounded New York City and kept many traders away from their desks through the first half of the day. There was little volatility to the market today as stocks didn’t stray too far from break even. On this quiet Friday stocks were able to end the month of February on a modestly positive note.
The Dow Jones Industrial Average (DJIA 10,325.26) ended the session with a small gain of 4.2 points, or 0.04%, as 14 of its 30 components closed higher. The Dow gave up 0.7% this week, but added 2.6% during the month of February. The blue-chip barometer settled today just fractions of a point below its 10-week moving average, but it’s still holding support at its 10-day and 20-day trendlines.
Similarly, the S&P 500 Index (SPX 1,104.49) closed up just 1.6 points, or 0.1%. The index lost 0.4% this week, but rose 2.9% for the month. The SPX is still perched above its 10-day moving average, and finished even with its 10-week trendline. Finally, the Nasdaq Composite (COMP – 2,238.26) enjoyed the day’s healthiest climb, rising 4 points, or 0.2%, by the close. The COMP shed just 0.3% for the week, and ended February with a robust gain of 4.2%.
