U.S. market indexes were lower Thursday. For the day, the Dow Jones Industrial Average closed at 18098.94 for a loss of -45.26 points or -0.25%. The S&P 500 was also down, closing at 2132.55 for a loss of -6.63 points or -0.31%. The Nasdaq Composite closed lower at 5213.33 for a loss of -25.69 points or -0.49%. The VIX Volatility Index was higher for the day at 16.56 for a gain of 0.65 points or 4.09%.
In the Dow Jones Industrial Average, the following stocks led losses for the day:
Chevron (CVX, Financial) -1.33%
Goldman Sachs (GS, Financial) -1.11%
Pfizer (PFE, Financial) -0.94%
Caterpillar (CAT, Financial) -0.70%
UnitedHealth (UNH, Financial) -0.67%
JPMorgan (JPM, Financial) -0.57%
American Express (AXP, Financial) -0.46%
Economic reports on the calendar for Thursday included: Jobless Claims, Import and Export Prices and the EIA Petroleum Status Report. Jobless claims were unchanged from the previous week. The Import and Export Prices report showed import prices up 0.1% for the month and export prices up 0.3%. The EIA’s Petroleum Status report showed oil inventories up 4.9 million barrels for the week.
Stocks were lower Thursday as investors watched affects from a disappointing China exports report. The lower valuations were also a result of the FOMC minutes, which showed the Fed likely to raise rates before the end of the year.
A CNBC report Thursday provided more details on the market’s reaction to the FOMC minutes.
Disclosure: I do not own any stocks included in this article.
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