U.S. market indexes were mixed on Wednesday with the Dow Jones reporting a new high.
For the day, the Dow Jones Industrial Average closed at 21,374.56 for a gain of 46.09 points or 0.22%. The Standard & Poor's 500 closed at 2,437.92 for a loss of 2.43 points or 0.10%. The Nasdaq Composite closed at 6,194.89 for a loss of 25.48 points or 0.41%. The VIX Volatility Index was higher for the day at 10.64 for a gain of 0.22 points or 2.11%.
Wednesday’s market movers
The Federal Open Market Committee reported an increase in the federal funds rate to a range of 1% to 1.25% following its June meeting. The committee also plans to begin reducing its balance sheet, which will also marginally increase market rates. The Fed’s balance sheet currently includes approximately $4.5 trillion of bonds and other assets in which it has been increasingly investing from previous quantitative easing.
Other economic reports affecting markets included the following:
- The Mortgage Bankers Association’s mortgage applications index increased by 2.8% for the week.
- The Consumer Price Index decreased by -0.1% for the month and increased by 1.9% for the year.
- Retail sales decreased by -0.3% for the month.
- Business inventories decreased by -0.2%.
In the Dow Jones Industrial Average, the following stocks led losses and gains:
Losses
Gains
- Home Depot (HD, Financial) 1.80%.
- Travelers (TRV, Financial) 1.48%.
- Goldman Sachs (GS, Financial) 1.03%.
In the broad market, consumer staples led gains and energy led losses. Technology stocks were lower with the S&P 500 technology sector decreasing -0.48% for the day.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1,417.57 for a loss of 8.41 points or 0.59%. The S&P 600 Small-Cap Index closed at 861.15 for a loss of 4.92 points or 0.57%. The Dow Jones Small-Cap Growth TSM Index closed at 8,523.04 for a loss of 47.46 points or 0.55%. The Dow Jones Small-Cap Value TSM Index closed at 9,668.19 for a loss of 54.95 points or 0.57%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,761.66 for a loss of 7.68 points or 0.43%; the S&P 100 Index at 1,074.00 for a loss of 0.64 points or 0.06%; the Russell 3000 Index at 1,444.74 for a loss of 2.26 points or 0.16%; the Russell 1000 Index at 1,351.36 for a loss of 1.63 points or 0.12%; and the Dow Jones U.S. Select Dividend Index at 669.03 for a gain of 0.05 points or 0.01%.
