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Julie Young
Julie Young
Articles (1482) 

US Indexes Post Small Gains Tuesday

Dow Jones gains 0.62%

The Dow Jones Industrial Average closed at 26,828.47 on Tuesday with a gain of 164.07 points or 0.62%. The S&P 500 closed at 3,306.51 for a gain of 11.90 points or 0.36%. The Nasdaq Composite closed at 10,941.17 for a gain of 38.37 points or 0.35%. The VIX Volatility Index was lower at 23.78 for a loss of 0.50 points or -2.06%.

Tuesday’s market movers

U.S. indexes ended with small gains Tuesday, staying in the green following a two-day tech rally. Stocks started lower in early morning trading as investors took some profits, which detracted from the day’s results. A building blast from a Beirut Port in Lebanon was also a detractor.

Reports showed the coronavirus daily count down slightly over the past two days. On Capital Hill, lawmakers have yet to make significant progress toward the next relief stimulus.

Stock highlights for the day included:

  • LendingTree (NASDAQ:TREE): Revenue of $184.3 million decreased 33.8% year over year and beat estimates by $2.72 million. A second-quarter GAAP loss of 66 cents per share missed estimates by 2 cents and non-GAAP earnings of 46 cents beat estimates by 31 cents.
  • Kodak (NYSE:KODK) down 3% after the Securities and Exchange Commission announced an investigation into its recent Covid-19 loan disclosure, which led to a nearly 2,000% increase over two days.
  • Cerence (NASDAQ:CRNC): Stock gained 22% to $50.50 after its earnings report. Revenue of $74.8 million decreased 3.6% year over year and beat estimates by $13.39 million. A third-quarter GAAP earnings loss of 77 cents per share missed estimates by 45 cents and non-GAAP earnings of 31 cents beat estimates by 23 cents.
  • Disney (NYSE:DIS): Revenue of $11.78 billion decreased 41.8% year over year and missed estimates by $580 million. A third-quarter GAAP loss of $2.61 per share missed estimates by $1.63 and non-GAAP earnings of 8 cents beat estimates by 75 cents.

Economic reports affecting market trading included the following:

  • Total vehicle sales for July were reported at a seasonally adjusted annual rate of 14.5 million, up from 13.1 million.
  • The ISM New York Index increased to 53.5 in July from 39.5.
  • Factory orders increased 6.2% in June following an increase of 7.7%. Factory orders excluding transportation increased 4.4% following an increase of 2.6%.
  • The Treasury held auctions for 119-day bills at a rate of 0.100% and 42-day bills at a rate of 0.085%.

Across sectors, energy, real estate 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 1,517.22 for a gain of 10.41 points or 0.69%. The S&P 600 closed at 881.14 for a gain of 4.95 points or 0.56%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,761.26 for a gain of 61.79 points or 0.58%. The Dow Jones U.S. Small-Cap Value Index closed at 7,054.46 for a gain of 43.99 points or 0.63%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,894.20 for a gain of 9.65 points or 0.51%; the S&P 100 at 1,524.36 for a gain of 4.92 points or 0.32%; the Nasdaq 100 at 11,096.54 for a gain of 41.46 points or 0.38%; the Russell 3000 at 1,933.72 for a gain of 7.17 points or 0.37%; the Russell 1000 at 1,837.31 for a gain of 6.47 points or 0.35%; the Wilshire 5000 at 33,787.24 for a gain of 133.64 points or 0.40%; and the Dow Jones U.S. Select Dividend Index at 595.43 for a gain of 2.68 points or 0.45%.

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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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