U.S. Market Indexes Lower with Election and Fed Uncertainty

Tue Nov 01 2016
Jim Andrews (523 articles)
U.S. Market Indexes Lower with Election and Fed Uncertainty

U.S. market indexes were lower Tuesday. For the day the Dow Jones Industrial Average closed at 18037.10 for a loss of -105.32 points or -0.58 percent. The S&P 500 closed at 2111.72 for a loss of -14.43 points or -0.68 percent. The Nasdaq Composite closed at 5153.58 for a loss of -35.56 points or -0.69 percent. The VIX Volatility Index was higher for the day at 18.56 for a gain of 1.50 points or 8.79 percent.

Tuesday’s Market Movers

Stocks were lower Tuesday as election and Fed uncertainty continued. Economic reports also affecting indexes included the following:

  • Motor vehicle sales were delayed due to a fire at Ford’s headquarters however the results for North America appear to be on track for a gain with an estimated 14.4 million SAAR versus 14.2 million SAAR in September. Consensus is for total vehicle sales of 17.3 million SAAR to 17.8 million SAAR.
  • PMI Manufacturing Index was reported at 53.4 after 51.5 in the previous month
  • ISM Mfg Index was reported at 51.9 after 51.5 in the previous month
  • Construction spending was down 0.4 percent from the previous month and -0.2 percent from a year ago

Stocks trading actively for the day included the following:

Bank of America

Pfizer

Chesapeake Energy

Apple

CenturyLink

Ford

General Electric

Alcoa Upstream

AT&T

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

Pfizer -2.02

Apple -1.81

Travelers -1.79

In the broad market real estate and utilities led losses. Technology stocks were also lower, down -0.86 percent. Stocks leading losses in technology included the following:

CenturyLink -6.06

Level 3 Communications -3.37

Autodesk -3.02

NVIDIA -2.97

Xerox -2.76

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.79 points or 0.65 percent. The dollar was lower for the day as the U.S. Dollar Index was down -0.59 points or -0.60 percent to 97.76.

Small-Cap Stocks

In small-caps, the Russell 2000 Index closed at 1177.94 for a loss of -13.45 points or -1.13 percent. The S&P 600 Small-Cap Index closed at 712.77 for a loss of -9.82 points or -1.36 percent. The Dow Jones Small-Cap Growth TSM Index closed at 7131.23 for a loss of -63.29 points or -0.88 percent. The Dow Jones Small-Cap Value TSM Index closed at 8393.01 for a loss of -116.48 points or -1.37 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1494.01 for a loss of -15.45 points or -1.02 percent; the S&P 100 Index at 938.36 for a loss of -5.51 points or -0.58 percent; the Russell 3000 Index at 1246.31 for a loss of -9.10 points or -0.72 percent; the Russell 1000 Index at 1169.30 for a loss of -8.16 points or -0.69 percent; and the Dow Jones U.S. Select Dividend Index at 594.57 for a loss of -7.75 points or -1.29 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