U.S. Market Indexes Lower with ECB Monetary Policy on Watch
U.S. market indexes were lower Tuesday. For the day the Dow Jones Industrial Average closed at 18168.45 for a loss of -85.40 points or -0.47 percent. The S&P 500 was also down, closing at 2150.49 for a loss of -10.71 points or -0.50 percent. The Nasdaq Composite closed lower at 5289.66 for a loss of -11.22 points or -0.21 percent. The VIX Volatility Index was higher for the day at 13.75 for a gain of 0.18 points or 1.33 percent.
Tuesday’s Market Movers
Stocks were lower for the day as investors considered news from the European Central Bank on tapering of bond buying and quantitative easing. On the economic calendar Tuesday, the Gallup U.S. Economic Confidence Index increased to -10 from -11. Fed speeches on the calendar for Tuesday included Jeffrey Lacker and Charles Evans.
Stocks trading actively for the day included the following:
Bank of America
Wells Fargo
Chesapeake Energy
Apple
Alcoa
AT&T
General Electric
Frontier Communications Corp.
In the Dow Jones Industrial Average, the following stocks led losses:
3M -1.97
DuPont -1.34
Verizon -1.20
Chevron -1.11
McDonald’s -0.99
Sectors leading losses in the broad market included utilities and real estate. In technology S&P 500 stocks were down -0.31 percent. The Nasdaq 100 closed at 4859.47 for a loss of -0.15 percent. Stocks leading losses in technology included the following:
Dollar Tree -3.90
Stericycle -3.03
Xilinx -1.61
NetApp -1.44
In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -4.35 points or -3.47 percent. The dollar was higher for the day as the U.S. Dollar Index was up 0.37 points or 0.39 percent to 96.12.
Small-Cap Stocks
In small-caps, the Russell 2000 Index was lower at 1239.78 for a loss of -6.01 points or -0.48 percent. The S&P 600 Small-Cap Index was lower at 750.66 for a loss of -3.58 points or -0.47 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7568.18 for a loss of -25.39 points or -0.33 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8631.48 for a loss of -56.55 points or -0.65 percent.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index closing at 1533.95 for a loss of -8.13 points or -0.53 percent; the S&P 100 Index at 952.48 for a loss of -3.68 points or -0.38 percent; the Russell 3000 Index at 1273.90 for a loss of -6.36 points or -0.50 percent; the Russell 1000 Index at 1192.34 for a loss of -5.96 points or -0.50 percent; and the Dow Jones U.S. Select Dividend Index at 603.39 for a loss of -7.54 points or -1.23 percent.
