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Julie Young
Julie Young
Articles (1498) 

US Indexes Close Higher Tuesday

Nasdaq gains 1.71%

The Dow Jones Industrial Average closed at 27,288.18 on Tuesday with a gain of 140.48 points or 0.52%. The S&P 500 closed at 3,315.57 for a gain of 34.51 points or 1.05%. The Nasdaq Composite closed at 10,963.64 for a gain of 184.84 points or 1.71%. The VIX Volatility Index was lower at 26.86 for a loss of 0.92 points or 3.31%.

Tuesday's Market Movers

U.S. indexes gained after a four-day selloff. Consumer discretionary led gains for the day by sectors. The Nasdaq Biotech Index gained 0.84%, led by Blueprint Medicines Corp. (NASDAQ:BPMC), which was up 13.03%.

Stock highlights for the day included:

  • GameStop (NYSE:GME) gained 20.69%, leading gains across the board.
  • Vroom (NASDAQ:VRM) gained 14.71% on positive comments from Goldman Sachs. Carvana (NYSE:CVNA) also gained 31%.
  • Nike (NYSE:NKE) reported fiscal first quarter earnings with the beginning of the calendar third quarter right around the corner. Revenue of $10.6 billion decreased -0.6% and beat estimates by $1.45 billion. First quarter GAAP EPS of $0.95 beat estimates by $0.47.
  • Tesla (NASDAQ:TSLA) was down -5.6% after the company held its shareholder meeting followed by a battery event Tuesday evening.
  • Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) ended with gains despite news of antitrust proceedings.

Economic reports affecting market trading included the following:

  • Existing home sales increased 2.4% in July, following an increase of 24.7%.
  • The Richmond Fed Manufacturing Index increased to 21 in September from 18.
  • Fed Chair Powell commented that the Fed and government overall need to continue to support economic stimulus. Powell is also appearing on Capitol Hill Wednesday and Thursday.
  • The Treasury held an auction for 119-day bills at a rate of 0.095%, 42-day bills at a rate of 0.085% and two-year notes at a rate of 0.136%.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,496.96 for a gain of 11.71 points or 0.79%. The S&P 600 closed at 846.18 for a gain of 5.65 points or 0.67%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,600.58 for a gain of 129.11 points or 1.23%. The Dow Jones U.S. Small-Cap Value Index closed at 6,754.10 for a gain of 0.99 points or 0.01%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,833.72 for a gain of 13.02 points or 0.72%; the S&P 100 at 1,538.48 for a gain of 19.08 points or 1.26%; the Nasdaq 100 at 11,186.37 for a gain of 206.15 points or 1.88%; the Russell 3000 at 1,941.21 for a gain of 18.93 points or 0.98%; the Russell 1000 at 1,846.39 for a gain of 18.22 points or 1.00%; the Wilshire 5000 at 33,882.43 for a gain of 332.86 points or 0.99%; and the Dow Jones US Select Dividend Index at 580.40 for a loss of 1.72 points or -0.30%.

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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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