U.S. Market Indexes Mixed as Apple Continues to Lose Ground
Wed Oct 26 2016
Jim Andrews (247 articles)
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U.S. Market Indexes Mixed as Apple Continues to Lose Ground

U.S. market indexes mixed on Wednesday. For the day the Dow Jones Industrial Average closed at 18199.33 for a gain of 30.06 points or 0.17 percent. The S&P 500 closed at 2139.43 for a loss of -3.73 points or -0.17 percent. The Nasdaq Composite closed at 18199.33 for a gain of 30.06 points or 0.17 percent. The VIX Volatility Index was higher for the day at 14.32 for a gain of 0.86 points or 6.39 percent.

Wednesday’s Market Movers

Stocks were mixed as Apple’s valuation was lower. The following reports were on the economic calendar for Wednesday:

  • MBA Mortgage Applications lower by -4.1 percent
  • International Trade $-56.1 billion down from $-59.2 billion
  • PMI Services Flash 54.8 after 51.9 in previous report
  • New Home Sales 593,000, below consensus of 601,000
  • EIA Petroleum Status Report -0.6 million barrels from the previous week

Stocks trading actively for the day include the following:

Apple

Chesapeake Energy

Bank of America

Southwest Airlines

Ford

AT&T

Southwestern Energy

Huntington Bancshares

Microsoft

Under Armour

In the Dow Jones Industrial Average, Boeing led gains for the day with a return of 4.69 percent and Apple led losses with a return of -2.25 percent.

In the broad market financial stocks led gains while real estate led losses. Technology was lower for the day with the S&P technology sector down -0.56 percent. Stocks leading losses in technology included Western Union, PayPal and Apple.

In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -0.68 points or -0.56 percent. The dollar was lower for the day as the U.S. Dollar Index was down -0.11 points or -0.11 percent to 98.63.

Small-Cap Stocks

In small-caps, the Russell 2000 Index closed at 1204.75 for a loss of -11.35 points or -0.93. The S&P 600 Small-Cap Index closed at 727.29 for a loss of -5.41 points or -0.74. The Dow Jones Small-Cap Growth TSM Index closed at 7264.87 for a loss of -71.98 points or -0.98 percent. The Dow Jones Small-Cap Value TSM Index closed at 8576.59 for a loss of -38.40 points or -0.45 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1514.86 for a loss of -0.51 percent; the S&P 100 Index at 951.21 for a loss of -0.17 percent; the Russell 3000 Index at 1263.29 for a loss of -0.26 percent; the Russell 1000 Index at 1184.38 for a loss of -0.20 percent; and the Dow Jones U.S. Select Dividend Index at 600.86 for a loss of -0.01 percent.


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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