The Dow Jones Industrial Average closed at 29,276.34 on Tuesday with a loss of 0.48 points or -0.01%. The S&P 500 closed at 3,357.75 for a gain of 5.66 points or 0.17%. The Nasdaq Composite closed at 9,638.94 for a gain of 10.55 points or 0.11%. The VIX Volatility Index was higher at 15.18 for a gain of 0.14 points or 0.93%.
Tuesday’s market movers
The S&P 500 and Nasdaq closed at new highs Tuesday as stocks closed mostly higher for a second day. Fears began to subside over the coronavirus. Sprint (S, Financial) and T-Mobile (TMUS, Financial) were both higher after a judge approved the merger of the two businesses.
On the earnings calendar:
- Lyft (LYFT, Financial): Revenue of $1.02 billion increased 52.4% year over year and beat estimates by $35.75 million. The company reported a fourth-quarter net loss of $356 million and an adjusted net loss of $121.4 million.
- AutoNation (AN, Financial): Revenue of $5.55 billion increased 2.6% year over year and beat estimates by $20 million. Fourth-quarter GAAP earnings of $1.74 per share beat estimates by 62 cents and non-GAAP earnings of $1.31 beat estimates by 16 cents.
- Other earnings releases also included: Hasbro (HAS), OnDeck Capital (ONDK), Hilton Worldwide (HLT), Groupon (GRPN) and Western Union (WU).
Economic reports affecting market trading included the following:
- The NFIB Business Optimism Index increased to 104.3 in January.
- Fed Chairman Powell testified before Congress on the state of the economy.
- The Job Openings and Labor Turnover Survey showed job openings of 6.423 million in December, down from 6.787 million.
- The Treasury held an auction for three-year notes at a rate of 1.394%.
In the S&P 500, real estate and energy led gains. In the Dow Jones Industrial Average, the following stocks led gains and losses:
- Intel (INTC, Financial) 1.54%
- 3M (MMM, Financial) 1.44%
- Verizon (VZ, Financial) -2.57%
- Microsoft (MSFT, Financial) -2.26%
In small caps, the Russell 2000 closed at 1,677.51 for a gain of 9.85 points or 0.59%. The S&P 600 closed at 1,012.97 for a gain of 7.37 points or 0.73%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,865.15 for a gain of 69.46 points or 0.64%. The Dow Jones U.S. Small-Cap Value Index closed at 9,719.54 for a gain of 58.80 points or 0.61%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,076.67 for a gain of 15.83 points or 0.77%; the S&P 100 at 1,508.33 for a loss of 2.03 points or -0.13%; the Nasdaq 100 at 9,517.86 for a gain of 1.02 points or 0.011%; the Russell 3000 at 1,965.18 for a gain of 4.69 points or 0.24%; the Russell 1000 at 1,857.12 for a gain of 4.00 points or 0.22%; the Wilshire 5000 at 34,309.61 for a gain of 78.88 points or 0.23%; and the Dow Jones U.S. Select Dividend Index at 758.35 for a gain of 3.98 points or 0.53%.
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