U.S. market indexes were lower on Wednesday.
For the day, the Dow Jones Industrial Average closed at 20,404.49 for a loss of 118.79 points or 0.58%. The Standard & Poor's 500 closed at 2,338.17 for a loss of 4.02 points or 0.17%. The Nasdaq Composite closed at 5,863.03 for a gain of 13.56 points or 0.23%. The VIX Volatility Index was slightly higher for the day at 14.92 with a gain of 0.50 points or 3.47%.
Wednesday’s market movers
IBM’s (NYSE:IBM) stock was down 4.8% on Wednesday, and investors were disappointed with the first quarter’s income growth rate. Oil prices and energy stocks were also lower.
Economic reports released on Wednesday included the following:
- The Mortgage Bankers Association’s mortgage applications index decreased by -1.8% for the week.
- The EIA Petroleum Status report showed oil inventories down 1 million barrels for the week. WTI crude oil was down 3.61% to $50.52 per barrel and Brent crude oil was down 3.39% to $53.03 per barrel.
- The Federal Reserve released its Beige Book which showed an improved labor market and economic growth as modest to moderate.
- Warning! GuruFocus has detected 3 Warning Signs with IBM. Click here to check it out.
- IBM 15-Year Financial Data
- The intrinsic value of IBM
- Peter Lynch Chart of IBM
In the Dow Jones Industrial Average, the following stocks led losses:
- IBM -4.92%.
- Chevron (NYSE:CVX) -1.37%.
- Caterpillar (NYSE:CAT) -0.97%.
- JPMorgan (NYSE:JPM) -0.82%.
- Goldman Sachs (NYSE:GS) -0.70%.
In small-caps, the Russell 2000 Index closed at 1,367.13 for a gain of 5.24 points or 0.38%. The S&P 600 Small-Cap Index closed at 830.24 for a gain of 4.05 points or 0.49%. The Dow Jones Small-Cap Growth TSM Index closed at 8,198.86 for a gain of 35.71 points or 0.44%. The Dow Jones Small-Cap Value TSM Index closed at 9,542.07 for a gain of 9.55 points or 0.10%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,704.75 for a gain of 3.92 points or 0.23%; the S&P 100 Index at 1,033.34 for a loss of 3.18 points or 0.31%; the Russell 3000 Index at 1,387.43 for a loss of 1.36 points or 0.10%; the Russell 1000 Index at 1,297.30 for a loss of 1.79 points or 0.14%; and the Dow Jones U.S. Select Dividend Index at 651.20 for a loss of 1.16 points or 0.18%.
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