Despite negative oil market conditions, weaker December retail sales, and quarterly reports for JPMorgan Chase, Citigroup, and Wells Fargo, the U.S. stock markets closed in the red zone on Friday, January 15. The S&P 500 dropped 0.72% to 3,768.25 points, the Dow Jones Industrial Average eased 0.57% to 30,814.26 points, and the Nasdaq Composite lost 0.87% to 12,998.50 points.
For December, with a 0.5 percent consensus rise, US industrial production was 1.6 percent better than the November data. However, this news was insufficient to deliver positive news to the markets: the Covid-19 pandemic predicted manufacturing production to decline by 3.6 percent on average. In comparison, total retail sales decreased in December by 0.7 percent m/m compared to the planned zero change, and retail sales outside vehicles decreased by 1.4 percent m/m with a consensus of minus 0.1 percent m/m.
At the end of the NYMEX on Friday, WTI oil futures for February delivery were down 2.82 percent at $52.06 a barrel. A negative trend in the stock market for the petroleum sector was triggered by the fall in oil prices: the S&P 500 Energy Industry Index lost 4.03 percent to 322.58. At the same time, the shares of absolutely all the companies pointed to in S&P 500 Energy were trapped in the red zone. Occidental Petroleum Corporation (OXY) was down -7.63% to $22.39; Concho Resources Inc. (CXO) dropped -6.02% to $65.6; Apache Corporation (APA) fell -5.89% to $17.27; ConocoPhillips (COP) declined by -5.74% to $45.12; Exxon Mobil Corporation (XOM) took a dip of -4.81% to $47.89 and Marathon Petroleum Corporation (MPC) lost -3.38% to $43.98.
Among other gainers on the day were: NiSource Inc. (NI) which rose +4.89% to $22.93; Abiomed, Inc. (ABMD) rose +3.58% to $329.69; Akamai Technologies, Inc. (AKAM) surged +3.5% to $106.45; The Home Depot, Inc. (HD) has added +2.7% to $275.59 and Mid-America Apartment Communities, Inc. (MAA) took a jump of +2.33% to $132.01.