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Julie Young
Julie Young
Articles (1357) 

US Indexes Close Higher for a Second Day

Dow Jones gains 2.39%

March 26, 2020 | About:

The Dow Jones Industrial Average closed at 21,200.55 on Wednesday with a gain of 495.64 points or 2.39%. The S&P 500 closed at 2,475.56 for a gain of 28.23 points or 1.15%. The Nasdaq Composite closed at 7384.30 for a loss of 33.56 points or -0.45%. The VIX Volatility Index was higher at 63.95 for a gain of 2.28 points or 3.70%.

Wednesday’s market movers

U.S. indexes closed higher for a second day in a row. Investors were optimistic over the agreement of a $2 trillion stimulus package from Congress. The stimulus package is expected to include checks of up to $1,200 for Americans, depending on income.

Economic reports affecting market trading included the following:

  • The MBA Mortgage Applications Index decreased -29.4% and the MBA’s average 30-year mortgage rate increased to 3.82% from 3.74%.
  • Durable goods orders increased 1.2% in February. Durable goods orders excluding transportation decreased -0.6%. Durable goods orders excluding defense increased 0.1%.
  • The FHFA House Price Index increased 0.3% in January.
  • The EIA’s Weekly Petroleum Status report showed crude oil inventory up 1.623 million barrels. WTI crude oil ended the day at approximately $24.33 per barrel.
  • The Treasury held auctions for 2-year notes at a rate of 0.220% and 5-year notes at a rate of 0.535%. The 10-year Treasury ended the day at a yield of approximately 0.83%.

In the S&P 500, industrials and real estate led gains. In the Dow Jones Industrial Average, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,110.37 for a gain of 13.81 points or 1.26%. The S&P 600 closed at 655.40 for a gain of 6.08 points or 0.94%. The Dow Jones U.S. Small-Cap Growth Index closed at 7,439.66 for a gain of 131.00 points or 1.79%. The Dow Jones U.S. Small-Cap Value Index closed at 5,697.99 for a gain of 171.20 points or 3.10%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,388.86 for a gain of 39.82 points or 2.95%; the S&P 100 at 1,135.20 for a gain of 4.78 points or 0.42%; the Nasdaq 100 at 7,469.62 for a loss of 84.21 points or -1.11%; the Russell 3000 at 1,429.25 for a gain of 19.37 points or 1.37%; the Russell 1000 at 1,358.83 for a gain of 18.51 points or 1.38%; the Wilshire 5000 at 24,982.40 for a gain of 339.80 points or 1.38%; and the Dow Jones U.S. Select Dividend Index at 503.60 for a gain of 12.58 points or 2.56%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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