U.S. Market Indexes Lower as Investors Await Fed Meeting
Fri Sep 16 2016
Jim Andrews (452 articles)

U.S. Market Indexes Lower as Investors Await Fed Meeting

U.S. market indexes were lower Friday. For the day the Dow Jones Industrial Average closed at 18123.80 for a loss of -88.68 points or -0.49 percent. The S&P 500 was also down, closing at 2139.16 for a loss of -8.10 points or -0.38 percent. The Nasdaq Composite closed lower at 5244.57 for a loss of -5.12 points or -0.10 percent. The VIX Volatility Index was lower at 15.44 for a loss of -0.86 points or -5.28 percent.

Friday’s Market Movers

Stocks were lower Friday as investors awaited insight and monetary policy action from the Federal Reserve next week at its September monetary policy meeting. The Consumer Price Index was the leading report for the day. The Index increased 1.1 percent year over year and 2.3 percent when excluding food and energy. The University of Michigan’s Consumer Sentiment Index was unchanged from last month at 89.8. Oil rigs in North America were lower by four, according to the Baker Hughes Rig Count.

Stocks trading actively for the day included the following:

Bank of America

Apple

Intel

Frontier Communications

Wells Fargo

Oracle

Microsoft

General Electric

Cisco

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

United Technologies -2.54

Chevron -1.67

Cisco -1.49

Goldman Sachs -1.24

Exxon -1.23

JPMorgan -1.23

Sectors leading losses in the broad market included financial services and energy. Technology was also lower for the day. The Nasdaq Composite closed lower at 5244.57 for a loss of -0.10 percent. The Nasdaq 100 closed at 4818.05 for a loss of -1.84 points or -0.04 percent. Stocks leading losses in technology included the following:

Liberty Global Group Class B        -9.34

Expedia Inc         -3.64

Liberty Ventures Group A             -3.38

In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss -0.31 points or -0.25 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.78 points or 0.82 percent to 96.06.

Small-Cap Stocks

In small-caps, the Russell 2000 Index closed at 1224.78 for a loss of -2.25 points or -0.18 percent. The S&P 600 Small-Cap Index was lower at 740.50 for a loss of -1.11 points or -0.15 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7461.51 for a loss of -23.94 points or -0.32 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8542.96 for a loss of -23.80 points or -0.28 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index closing at 1520.96 for a loss of -7.73 points or -0.51 percent; the S&P 100 Index at 948.80 for a loss of -3.80 points or -0.40 percent; the Russell 3000 Index at 1265.87 for a loss of -4.54 points or -0.36 percent; the Russell 1000 Index at 1185.40 for a loss of -4.42 points or -0.37 percent; the Dow Jones U.S. Select Dividend Index at 605.53 for a loss of -0.25 points or -0.04 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

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.