The Dow Jones Industrial Average closed at 29,186.27 on Wednesday with a loss of 9.77 points or -0.03%. The S&P 500 closed at 3,321.75 for a gain of 0.96 points or 0.03%. The Nasdaq Composite closed at 9,383.77 for a gain of 12.96 points or 0.14%. The VIX Volatility Index was higher at 12.91 for a gain of 0.060 points or 0.47%.
Wednesday’s market movers
Stocks rebounded slightly Wednesday after falling Tuesday following news of virus outbreaks in China. The country has ordered a shutdown of public transportation in the city of the outbreak.
Investors were watching the beginning of the impeachment trial in the Senate. The Senate announced rules for the trial and the Democrats will present their opening case.
Earnings headlines for the day included the following:
- Johnson & Johnson (JNJ, Financial): Revenue of $20.75 billion increased 1.8% year over year and missed estimates by $80 million. Q4 GAAP EPS of $1.50 beat estimates by $0.03 and non-GAAP EPS of $1.88 beat estimates by $0.01.
- Ally Financial (ALLY, Financial): Stock gained 6.77% after earnings per share matched the estimate of 95 cents.
- Rogers Communication (RCI, Financial): Stock gained 2.71% after announcing earnings per share of 76 cents, which slightly missed estimates by 2 cents.
In other news:
- Boeing (BA, Financial) was down -1.39% on further discussions over issues with the 737 MAX.
- Tesla's (TSLA, Financial) market cap crossed the $100 billion mark.
- The MBA Mortgage Applications Index decreased -1.2% following an increase of 30.2%. The MBA's average 30-year mortgage rate was unchanged at 3.87%.
- The Chicago Fed National Activity Index decreased to -0.35 in December from 0.41.
- The FHFA House Price Index increased 0.2% in November following an increase of 0.4%.
- Existing home sales increased 3.6% in December to a seasonally adjusted annual rate of 5.54 million.
- The EIA's Weekly Petroleum Status report showed crude oil inventory increasing by 1.6 million barrels.
In the S&P 500, technology led gains and energy led losses. In the Dow Jones Industrial Average, the following stocks led gains and losses:
- Intel (INTC, Financial) 3.49%
- IBM (IBM, Financial) 3.39%
- Dow Inc. (DOW, Financial) -3.29%
- Caterpillar (CAT, Financial) -2.21
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,684.46 for a loss of 1.44 points or -0.09%. The S&P 600 closed at 1,029.52 for a loss of 0.20 points or -0.019%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,862.72 for a loss of 0.97 points or -0.01%. The Dow Jones U.S. Small-Cap Value Index closed at 9,882.26 for a loss of 10.04 points or -0.10%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,082.52 for a loss of 0.41 points or -0.020%; the S&P 100 at 1,486.70 for a gain of 1.02 points or 0.069%; the Nasdaq 100 at 9,188.58 for a gain of 21.95 points or 0.24%; the Russell 3000 at 1,945.04 for a gain of 0.71 points or 0.037%; the Russell 1000 at 1,836.28 for a gain of 0.83 points or 0.045%; the Wilshire 5000 at 33,949.80 for a gain of 13.03 points or 0.038%; and the Dow Jones U.S. Select Dividend Index at 763.68 for a gain of 0.040 points or 0.0052%.
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