U.S. market indexes were higher Wednesday with the Nasdaq Composite reaching its fifth day of news highs. For the day, the Dow Jones Industrial Average closed at 19954.28 for a gain of 98.75 points or 0.50%. The S&P 500 closed at 2275.32 for a gain of 6.42 points or 0.28%. The Nasdaq Composite closed at 5563.65 for a gain of 11.83 points or 0.21%. The VIX Volatility Index was lower for the day at 11.26 for a loss of -0.23 points or -2.00%.
Wednesday’s market movers
On Wednesday, President-elect Donald Trump held his first press conference since being elected. Stocks gained, but biotechs suffered losses as Trump focused on high drug prices. Economic reports affecting the day’s trading include the following:
- Mortgage applications reported by the Mortgage Bankers Association increased 5.8% for the week.
- The Atlanta Fed business inflation estimate decreased to 2.0% from 2.1%.
- The EIA Petroleum Status report showed an increase of 4.1 million barrels in oil inventory for the week.
In the Dow Jones Industrial Average, the following stocks led gains:
Goldman Sachs (GS, Financial) 1.32%
ExxonMobil (XOM, Financial) 1.02%
In the broad market, energy stocks led gains. Technology stocks also gained with the S&P 500 technology sector gaining 0.47%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1373.30 for a gain of 2.40 points or 0.18%. The S&P 600 Small-Cap Index closed at 843.07 for a gain of 2.97 points or 0.35%. The Dow Jones Small-Cap Growth TSM Index closed at 8098.89 for a gain of 9.57 points or 0.12%. The Dow Jones Small-Cap Value TSM Index closed at 9771.11 for a gain of 43.57 points or 0.45%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1686.91 for a gain of 5.81 points or 0.35%; the S&P 100 Index at 1006.93 for a gain of 2.44 points or 0.24%; the Russell 3000 Index at 1354.04 for a gain of 3.61 points or 0.27%; the Russell 1000 Index at 1262.99 for a gain of 3.47 points or 0.28%; and the Dow Jones U.S. Select Dividend Index at 637.46 for a gain of 3.98 points or 0.63%.
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