Stocks Ended Flat Friday After Opening Loss
The S&P 500 Index ($SPX) on Friday closed slightly up +0.24% after an earlier day decline, while the Dow closed down -0.04%. Positive comments from Dr. Fauci help the market pull off the Friday's bottoms. Dr. Fauci said he doesn't back a prolonged lockdown, and that it may be time to begin "seriously" looking at reopening the economy in a cautious way. Stocks had opened lower Friday over concerns of tensions with China tensions and continued glut of crude oil prices.
China announced plans to impose a national security law on Hong Kong. President Trump said the U.S. would "respond strongly" to a planned move by China to crack down on protests and democratic movements in Hong Kong.
The coronavirus pandemic continues to dampen the global economic outlook. Confirmed cases of the virus have risen above 5.262 million globally, with deaths exceeding 338,000.
The VIX S&P 500 Volatility Index ($VIX) on Friday fell -1.37 to 28.16, consolidating above last Tuesday's 2-1/4 month low of 26.00. The VIX is well below March's 11-1/4 year high of 85.47.