U.S. market indexes continued to gain on Tuesday as the market awaits the Brexit vote on Thursday. For the day the Dow Jones Industrial Average closed at 17,829.73 for a gain of 24.86 points or 0.14%. The Standard & Poor's 500 was also higher, closing at 2,088.90 for a gain of 5.65 points or 0.27%. The Nasdaq Composite closed higher at 4,843.76 for a gain of 6.55 points or 0.14%. The VIX Volatility Index was higher at 18.45 for a gain of 0.08 points or 0.44%.
Stocks actively traded with leading gains in the Dow Jones Industrial Average included:
- Microsoft (MSFT, Financial) 2.24%.
- JPMorgan (JPM, Financial) 0.93%.
- Apple (AAPL, Financial) 0.87%.
- Nike (NKE, Financial) 0.75%.
- Pfizer (PFE, Financial) 0.72%.
On Tuesday, the housing industry’s leading homebuilder Lennar (LEN, Financial) was also actively traded as the company reported earnings. For the day the stock was down 0.52 points or 1.11% to $46.14. The company reported second quarter revenue of $2.75 billion, up 5.1% from the comparable quarter. Earnings per share for the quarter were 95 cents.
Few economic indicators were on the calendar for Tuesday with Janet Yellen’s speech before the Senate Banking Committee the highlight of the day. Yellen re-emphasized the Fed’s cautious approach for rate increases. She also noted that a U.K. exit vote would significantly affect the global economy and could potentially influence the path of rate increases.
While stocks continued to trade higher on Tuesday, the U.K.’s exit vote on Thursday continued to significantly influence trading. In a report from CNBC, market specialists discussed the U.K. exit vote's effect on stocks and the outlook for the stock market in the near term.
Disclosure: I do not own any stocks included in this article.
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