U.S. Market Indexes Continue to Gain with Positive Earnings Reports

Tue Jul 12 2016
Jim Andrews (507 articles)
U.S. Market Indexes Continue to Gain with Positive Earnings Reports

U.S. market indexes continued to gain on Tuesday closing higher for the day. On Tuesday, the Dow Jones Industrial Average closed at 18347.67 for a gain of 120.74 points or 0.66 percent. The S&P 500 was also higher, closing at 2152.14 for a gain of 14.98 points or 0.70 percent. The Nasdaq Composite closed higher at 5022.82 for a gain of 34.18 points or 0.69 percent. The VIX Volatility Index was higher for the day at 13.59 for a gain of 0.05 points or 0.37 percent.

Tuesday’s Market Movers

U.S. stocks continued their gains as companies beat earnings expectations for the second quarter and economic indicators appeared stable.

The market’s leading economic indicators on Tuesday included the NFIB Small Business Optimism Index, JOLTS and Wholesale Trade. The NFIB Small Business Optimism Index improved to 94.5 from 93.8 and beat consensus of 94. The JOLTS job openings report was lower for May at 5.5 million versus 5.788 million in the previous month. Wholesale trade was up 0.1 percent for the month after gaining 0.7 percent in the previous month.

The day’s most actively traded stocks included the following:

Gains (percent)

Bank of America +2.61

Alcoa +5.18

Chesapeake Energy +8.73

General Electric +0.48

Seagate Technology +22.19

Ford +1.36

American Airlines +11.48

Intel +0.56

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

Gains (percent)

Goldman Sachs 3.28

DuPont 2.85

Caterpillar 2.58

Nike 2.20

Intel 1.7

Top sectors for the broad market were energy and materials. In technology, stocks also continued to gain. The Nasdaq Composite closed higher at 5022.82 for a gain of 34.18 points or 0.69 percent. The Nasdaq 100 was higher at 4577.34 for a gain of 22.63 points or 0.50 percent. Stocks leading in the technology sector for the day included the following:

Gains (percent)

Seagate Technology 21.59

American Airlines 11.28

Liberty Media 8.33

In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -2.14 points or -1.66 percent. The dollar was lower for the day with the U.S. Dollar Index at 96.52 for a loss of -0.04 points or -0.04 percent.

Small-Cap Stocks

In small-caps, the Russell 2000 followed the day’s trend higher closing at 1205.85 for a gain of 15.82 points or 1.33 percent. The S&P 600 closed at 740.23 for a gain of 9.70 points or 1.33 percent. The Dow Jones Small-Cap Growth TSM Index closed at 7364.87 for a gain of 88.14 points or 1.21 percent. The Dow Jones Small-Cap Value TSM Index closed at 8647.11 for a gain of 99.10 points or 1.16 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index which closed at 1543.72 for a gain of 14.59 points or 0.95 percent; the S&P 100 which closed at 950.99 for a gain of 5.35 points or 0.57 percent; the Russell 3000 which closed at 1270.73 for a gain of 9.54 points or 0.76 percent; the Russell 1000 which closed at 1191.83 for a gain of 8.40 points or 0.71 percent; and the Dow Jones U.S. Select Dividend Index which closed at 622.60 for a gain of 3.94 points or 0.64 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