The Dow Jones Industrial Average closed at 26,840.40 on Tuesday with a gain of 159.53 points or 0.60%. The S&P 500 closed at 3,257.30 for a gain of 5.46 points or 0.17%. The Nasdaq Composite closed at 10,680.36 for a loss of 86.73 points or -0.81%. The VIX Volatility Index was higher at 24.91 for a gain of 0.45 points or 1.84%.
Tuesday’s Market Movers
U.S. indexes closed mostly higher Tuesday, though the Nasdaq gave back some of its record gains.
In Europe, the European Union reported an agreement on a substantial Covid-19 rescue fund. The news came just a day after Oxford University and AstraZeneca (LSE:AZN) announced more positive vaccine testing results.
On the earnings calendar, Coca-Cola (KO) reported results. Revenue of $7.2 billion decreased -28.0% year over year and missed estimates by $60 million. Q2 GAAP EPS of $0.41 was in-line with estimates and non-GAAP EPS of $0.42 beat estimates by $0.01. The company also reported an uptrend in sales for July.
The S&P 500 energy sector led gains for the day, up 5.73% after oil prices gained and Chevron announced its acquisition of Noble Energy.
On Capital Hill, investors were watching discussions on another Covid-19 stimulus bill, but lawmakers are suggesting little action until August.
On the economic calendar:
- The Chicago Fed National Activity Index improved to 4.11 in June from 3.50.
- The Treasury held auctions for 119-day bills at a rate of 0.120%, 42-day bills at a rate of 0.100% and 273-day bills at a rate of 0.140%.
In the S&P 100, the following stocks led gains and losses:
- Occidental Petroleum (OXY, Financial) 11.03%
- Halliburton (HAL, Financial) 6.82%
- Chevron (CVX, Financial) 6.6%
- Wells Fargo (WFC, Financial) 6.08%
- Exxon (XOM, Financial) 4.92%
- Philip Morris (PM, Financial) 4.2%
- Bank of America (BAC, Financial) 3.53%
- Citigroup (C, Financial) 3.04%
- AbbVie (ABBV, Financial) -2.21%
- Netflix (NFLX, Financial) -2.18%
- PayPal (PYPL, Financial) -1.82%
- Facebook (FB, Financial) -1.71%
- Gilead Sciences (GILD) -1.67%
- Amazon (AMZN) -1.65%
- NVIDIA (NVDA) -1.54%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,483.02 for a gain of 15.06 points or 1.03%. The S&P 600 closed at 859.38 for a gain of 17.51 points or 2.08%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,390.34 for a gain of 46.22 points or 0.45%. The Dow Jones U.S. Small-Cap Value Index closed at 7,031.14 for a gain of 217.33 points or 3.19%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,848.35 for a gain of 22.68 points or 1.24%; the S&P 100 at 1,502.97 for a loss of 1.14 points or -0.076%; the Nasdaq 100 at 10,833.07 for a loss of 119.00 points or -1.09%; the Russell 3000 at 1,902.50 for a gain of 3.47 points or 0.18%; the Russell 1000 at 1,808.03 for a gain of 2.07 points or 0.11%; the Wilshire 5000 at 33,231.21 for a gain of 58.55 points or 0.18%; and the Dow Jones U.S. Select Dividend Index at 595.89 for a gain of 11.51 points or 1.97%.
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