The Dow Jones Industrial Average closed at 29,160.09 on Thursday with a loss of 26.18 points or -0.09%. The S&P 500 closed at 3,325.54 for a gain of 3.79 points or 0.11%. The Nasdaq Composite closed at 9,402.48 for a gain of 18.71 points or 0.20%. The VIX Volatility Index was higher at 13.00 for a gain of 0.09 points or 0.70%.
Thursday’s market movers
U.S. stocks closed mostly flat for a second day. In China, more cities were put on lockdown due to risks of an identified pneumonia virus. However, the World Health Organization has not yet designated the outbreak as a global health emergency.
Major earnings releases included:
- Travelers (TRV, Financial): Net earned premium of $7.25 billion increased 4.3% year over year and missed estimates by $10 million. Fourth-quarter GAAP earnings of $3.35 per share beat estimates by 16 cents and non-GAAP earnings of $3.32 beat estimates by 5 cents.
- Procter & Gamble (PG, Financial): Revenue of $18.24 billion increased 4.6% year over year and missed estimates by $130 million. Second-quarter GAAP earnings of $1.41 per share beat estimates by 3 cents and non-GAAP earnings of $1.42 beat estimates by 5 cents.
- Intel (INTC, Financial): Revenue of $20.21 billion increased 8.3% year over year and beat estimates by $980 million. Fourth-quarter GAAP earnings of $1.58 per share beat estimates by 35 cents and non-GAAP earnings of $1.52 beat estimates by 27 cents.
- American Airlines (AAL, Financial): Revenue of $11.31 billion increased 3.4% year over year and missed estimates by $20 million. Fourth-quarter GAAP earnings of 95 cents per share missed estimates by 16 cents and non-GAAP earnings of $1.15 missed estimates by 1 cent.
- Southwest Airlines (LUV, Financial): Revenue of $5.73 billion increased 0.5% year over year and missed estimates by $10 million. Fourth-quarter GAAP earnings of 98 cents per share missed estimates by 10 cents and non-GAAP earnings of $1.16 beat estimates by 7 cents.
In other news:
- The U.K. has agreed on a deal for Brexit that is headed to Queen Elizabeth II for signing. The deal calls for a separation from the European Union by the end of January.
- Jobless claims were 211,000, up from 205,000 in the previous week. Continuing jobless claims decreased to 1,731,000 from 1,768,000.
- The Conference Board’s Leading Economic Indicators Index decreased 0.3% in December following an increase of 0.1%.
- The Treasury held auctions for four-week bills at a rate of 1.50%, eight-week bills at a rate of 1.54% and 10-Year TIPS at a rate of 0.036%.
- Mortgage rates were lower according to Freddie Mac's weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.60%, down from 3.65%. The 15-year fixed-rate mortgage averaged 3.04%, down from 3.09%.
In the S&P 500, industrials led gains and health care led losses. In the Dow Jones Industrial Average, the following stocks led losses and gains:
- Travelers (TRV, Financial) -5.09%
- Nike (NKE, Financial) -1.47%
- Merck (MRK, Financial) -1.29%
- Boeing (BA, Financial) +2.77%
- Pfizer (PFE, Financial) +1.37%
- McDonald's (MCD, Financial) +0.92%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,685.57 for a gain of 1.11 points or 0.07%. The S&P 600 closed at 1,031.47 for a gain of 1.95 points or 0.19%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,864.14 for a gain of 1.42 points or 0.01%. The Dow Jones U.S. Small-Cap Value Index closed at 9,879.20 for a loss of 3.06 points or -0.03%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,086.86 for a gain of 4.34 points or 0.21%; the S&P 100 at 1,487.22 for a gain of 0.52 points or 0.035%; the Nasdaq 100 at 9,216.98 for a gain of 28.41 points or 0.31%; the Russell 3000 at 1,947.13 for a gain of 2.10 points or 0.11%; the Russell 1000 at 1,838.35 for a gain of 2.07 points or 0.11%; the Wilshire 5000 at 33,989.64 for a gain of 39.84 points or 0.12%; and the Dow Jones U.S. Select Dividend Index at 765.99 for a gain of 2.31 points or 0.30%.
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