U.S. Market Indexes Lower after Alcoa’s Earnings
U.S. market indexes were lower Tuesday. For the day the Dow Jones Industrial Average closed at 18128.66 for a loss of -200.38 points or -1.09 percent. The S&P 500 was also lower, closing at 2136.73 for a loss of -26.93 points or -1.24 percent. The Nasdaq Composite closed lower at 5246.79 for a loss of -81.89 points or -1.54 percent. The VIX Volatility Index was higher at 15.40 for a gain of 2.02 points or 15.10 percent.
Tuesday’s Market Movers
Leading economic reports on the calendar for Tuesday included the NFIB Small Business Optimism Index and the Labor Market Conditions Index. The NFIB Small Business Optimism Index was reported at 94.1, just below the prior month’s report of 94.4. The Labor Market Conditions Index was lower for the month at -2.2. The previous month’s report showed an Index reading of -0.7.
Stocks were lower Tuesday, after Alcoa kicked off the earnings season with a revenue and earnings miss. Revenue missed analysts’ expectations by $120 million at $5.21 billion. Earnings missed expectations by $0.03 at $0.32.
Stocks trading actively for the day included the following:
Bank of America
Apple
Chesapeake Energy
Ford
Alcoa
General Electric
Intel
Bristol-Myers Squibb
In the Dow Jones Industrial Average, stocks leading losses included the following:
Merck -3.07
UnitedHealth -2.44
Intel -2.00
Johnson & Johnson -1.79
American Express -1.66
Boeing -1.52
Microsoft -1.48
Sectors leading losses in the broad market included healthcare and materials. Technology was also lower. The S&P 500 technology sector was down -1.08 percent and the Nasdaq 100 was lower by 1.47 percent. Stocks leading losses in the technology sector included the following:
Illumina Inc. -24.74
Liberty Global Group -7.61
Seagate Technology -7.58
Fastenal -5.11
Western Digital -4.52
In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -0.61 points or -0.51 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.76 points or 0.78 percent to 97.65.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1227.67 for a loss of -23.09 points or -1.85 percent. The S&P 600 Small-Cap Index closed at 744.37 for a loss of -12.43 points or -1.64 percent. The Dow Jones Small-Cap Growth TSM Index closed at 7482.38 for a loss of -151.92 points or -1.99 percent. The Dow Jones Small-Cap Value TSM Index closed at 8568.65 for a loss of -116.42 points or -1.34 percent.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1521.00 for a loss of -24.86 points or -1.61 percent; the S&P 100 Index at 949.05 for a loss of -9.97 points or -1.04 percent; the Russell 3000 Index at 1264.63 for a loss of -16.69 points or -1.30 percent; the Russell 1000 Index at 1183.92 for a loss of -15.07 points or -1.26 percent; and the Dow Jones U.S. Select Dividend Index at 599.14 for a loss of -7.68 points or -1.27 percent.
