U.S. Market Indexes Gain with New Highs

Tue Aug 09 2016
Jim Andrews (506 articles)
U.S. Market Indexes Gain with New Highs

U.S. market indexes were higher on Tuesday with the Nasdaq Composite setting a new closing record. For the day the Dow Jones Industrial Average closed at 18533.05 for a gain of 3.76 points or 0.02 percent. The S&P 500 was higher at 2181.74 for a gain of 0.85 points or 0.04 percent. The Nasdaq Composite closed higher at 5225.48 for a gain of 12.34 points or 0.24 percent. The VIX Volatility Index closed at 11.63 for a gain of 0.13 points or 1.13 percent.

Tuesday’s Market Movers

U.S. market indexes gained on Tuesday. The NFIB Small Business Index was slightly higher. It reported an Index level of 94.6 above consensus of 94.5. Productivity was down in a report on Tuesday. The Productivity and Costs Report showed a decrease of -0.5 percent SAAR for the quarter. Wholesale trade was positive with a monthly gain of 0.3 percent. This was above the prior change of 0 percent and the consensus of 0 percent.

Stocks trading actively on Tuesday included the following: Bank of America, Chesapeake Energy, Endo International, Ford, Apple, Bristol-Myers Squibb, General Electric, Facebook and Cisco Systems.

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

Gains (percent)

Walt Disney Co  1.02

United Technologies Corp            0.51

Pfizer Inc              0.43

Apple Inc             0.41

Goldman Sachs Group Inc             0.37

Boeing Co            0.33

Wal-Mart Stores Inc        0.27

Procter & Gamble Co      0.27

Microsoft Corp  0.24

Top sectors for the broad market were consumer staples, healthcare and technology. Technology stocks were a leading factor in the day’s gains. In technology the following stocks led the market higher:

Gains (percent)
Endo International PLC  21.83
Charter Communications Inc A   8
Liberty Interactive Corp A             3.47
Ctrip.com International Ltd ADR 2.89
Mylan NV            2.86
DISH Network Corp         1.85
Broadcom Ltd    1.68
Autodesk Inc      1.63
Skyworks Solutions Inc   1.61

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.52 points or 0.41 percent. The dollar was lower for the day as the U.S. Dollar Index was down -0.24 points or -0.25 percent at 96.14.

Small-Cap Stocks

In small-caps, the Russell 2000 Index was higher at 1231.74 for a gain of 1.32 points or 0.11 percent. The S&P 600 Small-Cap Index was higher at 745.86 for a gain of 0.17 points or 0.02 percent. The Dow Jones Small-Cap Growth TSM Index was higher at 7502.08 for a gain of 3.10 points or 0.04 percent. The Dow Jones Small-Cap Value TSM Index was higher at 8770.91 for a gain of 2.02 points or 0.02 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index which closed at 1562.50 for a loss of -0.07 points or -0.01 percent; the S&P 100 Index which closed at 966.93 for a gain of 0.95 points or 0.10 percent; the Russell 3000 Index which closed at     1289.30 for a gain of 0.73 points or 0.06 percent; the Russell 1000 Index which closed at 1208.59 for a gain of 0.63 points or 0.05 percent; and the Dow Jones U.S. Select Dividend Index which closed at 620.14 for a loss of -0.84 points or -0.14 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