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Julie Young
Julie Young
Articles (1481) 

US Indexes Close Lower Tuesday

S&P 500 down 1.08%

The Dow Jones Industrial Average closed at 25,890.18 on Tuesday with a loss of 396.85 points or -1.51%. The S&P 500 closed at 3,145.32 for a loss of 34.40 points or -1.08%. The Nasdaq Composite closed at 10,343.89 for a loss of 89.76 points or -0.86%. The VIX Volatility Index was higher at 29.36 for a gain of 1.42 points or 5.08%.

Tuesday’s market movers

U.S. indexes retracted some of Monday’s gains, following a big rally spurred by stock buying in China. The S&P 500 consumer discretionary sector was down 1.5%. A report from the European Commission was a detractor for the day, as the agency reduced its economic forecasts for 2020 and 2021. In several Federal Reserve official speeches from the day, sentiment also suggested that the labor market and unemployment rate were likely to have seen their best improvements already with a more subdued trend expected for future months.

In biotech and health care, the government announced new Covid-19 drug grants for Novavax (NASDAQ:NVAX) and Regeneron (REGN). The iShares Nasdaq Biotech Index gained 0.44% Tuesday.

In other news:

  • Facebook (FB) was down 0.23% as it continues to battle ad boycotts and take steps to meet with companies concerned about their ads.
  • The Job Openings and Labor Turnover Survey showed job openings of 5.397 million in May, up from the previous month’s 4.996 million.
  • The Treasury held auctions for 119-day bills at a rate of 0.150%, 42-day bills at a rate of 0.125% and three-year notes at a rate of 0.190%.

In the S&P 100, the following stocks led losses and gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,416.00 for a loss of 26.89 points or -1.86%. The S&P 600 closed at 815.23 for a loss of 16.66 points or -2.00%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,925.32 for a loss of 141.44 points or -1.41%. The Dow Jones U.S. Small-Cap Value Index closed at 6,664.78 for a loss of 191.90 points or -2.80%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,762.92 for a loss of 34.44 points or -1.92%; the S&P 100 at 1,456.52 for a loss of 14.11 points or -0.96%; the Nasdaq 100 at 10,524.01 for a loss of 80.05 points or -0.75%; the Russell 3000 at 1,833.99 for a loss of 20.47 points or -1.10%; the Russell 1000 at 1,744.23 for a loss of 18.66 points or -1.06%; the Wilshire 5000 at 32,047.79 for a loss of 361.32 points or -1.11%; and the Dow Jones U.S. Select Dividend Index at 569.62 for a loss of 10.28 points or -1.77%.

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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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