US market indexes were mixed on Wednesday. The Dow Jones Industrial Average closed at 23526.18 for a loss of -64.65 points or -0.27%. The S&P 500 closed at 2597.08 for a loss of -1.95 points or -0.08%. The Nasdaq Composite closed at 6867.36 for a gain of 4.88 points or 0.07%. The VIX Volatility Index was higher at 9.84 points for a gain of 0.11 points or 1.13%.
Wednesday’s Market Movers
Technology stocks led gains on Wednesday. The Nasdaq Composite reached a new high of 6867.36.
Economic reports affecting market trading included the following:
- The Mortgage Bankers Association’s mortgage applications index increased 0.1% for the week.
- The 30-year fixed-rate mortgage average reported by Freddie Mac decreased to 3.92%. The 15-year fixed-rate mortgage average was higher at 3.32%.
- Durable goods orders decreased -1.2% for the week and increased 1.0% for the year.
- Jobless claims decreased by 13,000 to 239,000.
- The University of Michigan’s Consumer Sentiment Index increased to 98.5 from 97.8.
- The EIA Petroleum Status report showed a decrease of -1.9 million barrels of inventory for the week.
- The Baker-Hughes rig count increased to 1,138.
- The Federal Open Market Committee released its most recent meeting minutes with a unanimous vote for no change in the federal funds rate and some discussion reported on inflation.
In the Dow Jones Industrial Average, the following stocks led losses:
Johnson & Johnson (JNJ, Financial) -0.76%
Microsoft (MSFT, Financial) -0.73%
Goldman Sachs (GS, Financial) -0.67%
UnitedHealth (UNH, Financial) -0.65%
American Express (AXP, Financial) -0.62%
In the broad market, energy stocks led gains and financial stocks led losses. Technology was lower for the day with the S&P 500 technology sector down -0.19%.
Small-Cap Stocks
In small-caps, the Russell 2000 Index closed at 1516.76 for a loss of -2.13 points or -0.14%. The S&P 600 closed at 925.88 for a loss of -1.93 points or -0.21%. The Dow Jones Small-Cap Growth TSM Index closed at 9243.26 for a loss of -3.42 points or -0.04%. The Dow Jones Small-Cap Value TSM Index closed at 10095.48 for a loss of -8.85 points or -0.09%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1857.91 for a loss of -1.05 points or -0.06%; the S&P 100 Index at 1144.50 for a loss of -0.35 points or -0.03%; the Russell 3000 Index at 1540.69 for a loss of -1.10 points or -0.07%; the Russell 1000 Index at 1440.68 for a loss of -0.95 points or -0.07%; and the Dow Jones US Select Dividend Index at 682.77 for a loss of -0.31 points or -0.05%.
