U.S. Market Indexes Mixed with Technology Stocks Higher

Thu Jul 07 2016
Jim Andrews (508 articles)
U.S. Market Indexes Mixed with Technology Stocks Higher

U.S. market indexes were mixed in trading Thursday. For the day the Dow Jones Industrial Average was lower at 17895.88 for a loss of -22.74 points or -0.13 percent. The S&P 500 was also down, closing at 2097.90 for a loss of -1.83 points or -0.09 percent. The Nasdaq Composite closed higher at 4876.81 for a gain of 17.65 points or 0.36 percent. The VIX Volatility Index was lower at 14.87 for a loss of -0.09 points or -0.60 percent.

Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Thursday’s Market Movers

Market trading was mostly influenced by the day’s employment data. The ADP Employment Report showed private sector jobs increasing by 172,000 which was above consensus of 150,000 and also above the report of 168,000 in May. Jobless claims data was also positive with 16,000 fewer claims than the previous week.

The Energy Information Administration also released its EIA Petroleum Status Report Thursday which showed crude oil inventories down -2.2 million barrels from the previous week. Oil prices were lower for the day Thursday as trader has hoped for more of a reduction in inventory. Oil traded at approximately $45 on Thursday.

Stocks actively traded for the day included the following: Bank of America, General Electric, Chesapeake Energy, Ford, Intel, Citigroup, Apple and AT&T.

In the Dow Jones Industrial Average, the following stocks led losses:

Losses (percent)

Verizon -1.56

Chevron -1.46

Exxon -1.2

UnitedHealth -1.11

Travelers-1.05

For the day, utilities and energy stock sectors both led losses. In technology, stocks gained. The Nasdaq Composite closed higher at 4876.81 for a gain of 17.65 points or 0.36 percent. The Nasdaq 100 was higher at 4459.58 for a gain of 14.88 points or 0.33 percent. Stocks leading gains in the technology sector included the following:

Gains (percent)

Western Digital 4.84

Viacom 4.01

Liberty Global 3.62

In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -0.49 points or -0.38 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.14 points or 0.15 percent to 96.24.

Small-Cap Stocks

In small-caps, the Russell 2000 was higher on Thursday, closing at 1149.76 for a gain of 2.42 points or 0.21 percent. The S&P 600 closed at 705.56 for a gain of 1.25 points or 0.18 percent. The Dow Jones Small-Cap Growth TSM Index closed at 7066.05 for a gain of 28.51 points or 0.41 percent. The Dow Jones Small-Cap Value TSM Index closed at 8302.55 for a loss of -16.80 points or -0.20 percent.

 Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index which closed at 1492.60 for a gain of 2.58 points or 0.17 percent; the S&P 100 which closed at 929.34 for a loss of -0.50 points or -0.05 percent; the Russell 3000 which closed at 1236.12 for a loss of -0.35 points or -0.03 percent; the Russell 1000 which closed at 1161.24 for a loss of -0.55 points or -0.05 percent; and the Dow Jones U.S. Select Dividend Index which closed at 607.79 for a loss of -3.99 points or -0.65 percent.

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York