The Dow Jones Industrial Average closed at 24,461.70 on Thursday with a loss of -196.10 points or -0.80%. The S&P 500 closed at 2,749.76 for a loss of -17.56 points or -0.63%. The Nasdaq Composite closed at 7,712.95 for a loss of -68.56 points or -0.88%. The VIX Volatility Index was higher at 14.64 for a gain of 1.85 points or 14.46%.
Thursday’s market movers
U.S. market indexes were pressured Thursday by further trade concerns and a decrease in oil prices. The Dow Jones reported its eighth consecutive closing loss. In the S&P 500, the energy sector led losses as OPEC appeared likely to announce a deal involving higher output.
Multinational industrial and energy companies led losses in the Dow Jones. Other top detractors included Denbury Resources (DNR, Financial), Zuora (ZUO, Financial) and Amazon (AMZN, Financial).
Economic reports affecting market trading included the following:
- Jobless claims decreased by -3,000 to 218,000.
- The FHFA Price Index increased 0.1% for the month and 6.4% for the year.
- The Index of Leading Economic Indicators reported a 0.2% monthly increase.
- Fed balance sheet assets decreased by -$9 billion from the previous week for a total of $4.316 trillion.
- Freddie Mac’s weekly mortgage rate survey showed mortgage rates decreasing. The 30-year fixed-rate mortgage averaged 4.57% down from 4.62%. The 15-year fixed rate mortgage average decreased to 4.04% from 4.07%.
In the Dow Jones Industrial Average, the following stocks led losses:
- Caterpillar (CAT, Financial) -2.52%
- Intel (INTC, Financial) -2.38%
- Chevron (CVX, Financial) -2.16%
- United Technologies (UTX, Financial) -1.50%
- Boeing (BA, Financial) -1.42%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,688.95 for a loss of -18.04 points or -1.06%. The S&P 600 closed at 1,042.41 for a loss of -9.99 points or -0.95%. The Dow Jones Small-Cap Growth TSM Index closed at 10,442.16 for a loss of -123.03 points or -1.16%. The Dow Jones Small-Cap Value TSM Index closed at 10,515.00 for a loss of -90.32 points or -0.85%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,987.34 for a loss of -14.45 points or -0.72%; the S&P 100 at 1,207.08 for a loss of -8.21 points or -0.68%; the Russell 3000 at 1,640.93 for a loss of -11.51 points or -0.70%; the Russell 1000 at 1,528.58 for a loss of -10.23 points or -0.66%; and the Dow Jones U.S. Select Dividend Index at 698.16 for a loss of -3.84 points or -0.55%.
