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Julie Young
Julie Young
Articles (1447) 

US Indexes Close Higher Wednesday

Nasdaq gains 1.44%

The Dow Jones Industrial Average closed at 26,067.28 on Wednesday with a gain of 177.10 points or 0.68%. The S&P 500 closed at 3,169.94 for a gain of 24.62 points or 0.78%. The Nasdaq Composite closed at 10,492.50 for a gain of 148.61 points or 1.44%. The VIX Volatility Index was lower at 28.11 for a loss of 1.32 points or -4.49%.

Wednesday’s market movers

U.S. stocks closed higher Wednesday. Recovery buying helped the day’s gains. Investors continued to digest both good and bad coronavirus news headlines.

A bullish stock market editorial in the China Securities Journal earlier in the week continued to spur motivation for buying in China. The Shanghai Composite was up nearly 2% on Wednesday, and U.S. investors followed the wave.

Coronavirus cases reached a new daily record of 60,000. Florida and Texas appear to be two of the largest trouble spots. Across the country, the number of total reported cases moved above 3 million.

Economic reports affecting market trading included the following:

  • The MBA Mortgage Applications Index increased 2.2% following a decrease of 1.8%. The MBA’s average 30-year mortgage rate decreased to 3.26% from 3.29%.
  • The EIA’s Weekly Petroleum Status Report showed crude oil inventory increasing by 6.3 million barrels.
  • The Treasury held auctions for 154-day bills at a rate of 0.155%, 105-day bills at a rate of 0.145% and 10-year notes at a rate of 0.653%.
  • Consumer credit outstanding decreased by $18.2 billion in May.

Across sectors, technology and semiconductors led gains. In the S&P 100, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,427.40 for a gain of 11.41 points or 0.81%. The S&P 600 closed at 818.56 for a gain of 3.33 points or 0.41%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,030.99 for a gain of 105.67 points or 1.06%. The Dow Jones U.S. Small-Cap Value Index closed at 6,689.88 for a gain of 25.10 points or 0.38%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,774.86 for a gain of 11.94 points or 0.68%; the S&P 100 at 1,471.15 for a gain of 14.63 points or 1.00%; the Nasdaq 100 at 10,666.70 for a gain of 142.69 points or 1.36%; the Russell 3000 at 1,849.55 for a gain of 15.56 points or 0.85%; the Russell 1000 at 1,759.08 for a gain of 14.84 points or 0.85%; the Wilshire 5000 at 32,317.29 for a gain of 269.51 points or 0.84%; and the Dow Jones U.S. Select Dividend Index at 569.80 for a gain of 0.18 points or 0.032%.

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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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