U.S. Market Indexes Lower as Investors Watch Deutsche Bank
U.S. market indexes were lower Thursday. For the day the Dow Jones Industrial Average closed at 18143.45 for a loss of -195.79 points or -1.07 percent. The S&P 500 was also lower, closing at 2151.13 for a loss of -20.24 points or -0.93 percent. The Nasdaq Composite closed lower at 5269.15 for a loss of -49.39 points or -0.93 percent. The VIX Volatility Index was higher at 14.02 for a gain of 1.63 points or 13.16 percent.
Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.
Thursday’s Market Movers
Stocks were lower on Thursday as investors worried about recurring challenges from the subprime crisis and Deutsche Bank’s regulatory inquiries.
On the economic calendar, GDP improved to 1.4 percent from 1.1 percent. Second quarter corporate profits were down 1.7 percent from the comparable year, an improvement from the previous quarter’s -2.2 percent. The trade deficit decreased to $-58.4 billion. Jobless claims increased 3,000 to 254,000. The Pending Home Sales Index was down 2.4 percent compared to an increase of 1.3 percent in the previous month. Consensus for the Index was an increase of 0.5 percent.
Stocks trading actively for the day included:
Chesapeake Energy
Bank of America
Procter & Gamble
Wells Fargo
Qualcomm
General Electric
Apple
Marathon Oil Corp.
Transocean
In the Dow Jones Industrial Average, the following stocks led losses:
Goldman Sachs -2.75
Merck -2.20
Nike -2.05
Pfizer -1.97
In the broad market, healthcare and utilities led losses while financial services stocks were also lower. Technology was also lower for the day with S&P 500 technology stocks down -0.61 percent. The Nasdaq 100 closed at 4838.30 for a loss of -0.76 percent. Technology stocks leading losses for the day included the following:
Endo -6.40
Mylan -4.35
In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -0.15 points or -0.12 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.07 points or 0.07 percent to 95.50.
Small-Cap Stocks
In small-caps, the Russell 2000 Index was lower at 1237.75 for a loss of -17.91 points or -1.43 percent. The S&P 600 Small-Cap Index was lower at 748.98 for a loss of -9.24 points or -1.22 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7531.01 for a loss of -101.74 points or -1.33 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8680.82 for a loss of -97.52 points or -1.11 percent.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1539.57 for a loss of -17.38 points or -1.12 percent; the S&P 100 Index at 950.92 for a loss of -9.14 points or -0.95 percent; the Russell 3000 Index at 1274.28 for a loss of -12.62 points or -0.98 percent; the Russell 1000 Index at 1192.89 for a loss of -11.37 points or -0.94 percent; and the Dow Jones U.S. Select Dividend Index at 611.96 for a loss of -6.77 points or -1.09 percent.
