After a week of more positive earnings momentum, investors woke up on Friday with fresh concerns about the pandemic.
 | FRI, NOV 19, 2021 | | | | DJIA | |  | +% | + | |
| | S&P 500 | | | | +% | + | |
| | NASDAQ | | | | +% | + | |
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| | | S&P 500 | | NAME | LAST | CHG | %CHG | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | |
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After a week of more positive earnings momentum, investors woke up on Friday with fresh concerns about the pandemic. Austria announced plans to reenter a full national lockdown due to a spike in Covid cases. Those worries weighed on the market: Recovery-oriented shares dipped while tech stocks got a lift. This also dragged the blue-chip Dow Jones Industrial Average lower for the day and for the second consecutive week. The tech-heavy Nasdaq finished higher and notched a 1.2% weekly gain. The S&P 500 edged lower for the day, but not enough to steal its weekly win of 0.3%. Travel-related names took a hit: United Airlines dropped 2.7%, while Royal Caribbean fell 2.9%. Aerospace giant Boeing also took a dive, tumbling 5.7%. Fuel companies also slid as the price of oil declined to a six-week low. Devon Energy fell 6.2%, and Diamondback Energy lost 5.3%.  Meanwhile, shares of Moderna jumped nearly 5% after the Food and Drug Administration cleared its vaccine booster shot for U.S. adults. Tax prep software giant Intuit was the leader of the broad market index, with a 10% gain after issuing stronger-than-expected quarterly results and upbeat full-year revenue guidance. Big Tech names Apple, Microsoft, and Facebook-parent Meta Platforms also ended the session on a positive note. Analysts and strategists are unfazed by what has become a classic market reaction to Covid and are more focused on the Federal Reserve's policy moves. Heading into the weekend, investors are keeping an eye on President Joe Biden's pick for the next central bank chair, a move that could sway market sentiment. |
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