The Dow Jones Industrial Average closed at 27,452.66 on Tuesday with a loss of 131.40 points or -0.48%. The S&P 500 closed at 3,335.47 for a loss of 16.13 points or -0.48%. The Nasdaq Composite closed at 11,085.25 for a loss of 32.28 points or -0.29%. The VIX Volatility Index was higher at 26.27 for a gain of 0.08 points or 0.31%.
Tuesday's market movers
U.S. indexes ended a three-day rally, closing lower Tuesday. Globally, coronavirus deaths surpassed the one million mark. Uncertainty also continued over economic stimulus from Congress. On Tuesday evening, investors will see the first presidential debate between Trump and Biden.
Across sectors, energy led losses as oil price demand worries have been closely tied to pandemic concerns. Semiconductors and biotech showed gains. Stock highlights for the day included:
- Micron Technology (MU, Financial) reported earnings. Revenue of $6.06 billion increased 24.4% and beat estimates by $170 million. Fiscal fourth-quarter GAAP earnings of 87 cents per share missed estimates by 3 cents and non-GAAP earnings of $1.08 beat estimates by 11 cents. The stock gained 1.99%.
- Paycom Software (PAYC, Financial) led gains in the S&P 500 with a return of 4.47%. Apache Corp. (APA, Financial) led losses with a return of -7.11%.
Economic reports affecting market trading included the following:
- The international goods trade balance for August showed a deficit of $82.94 billion, following a report of -$80.11 billion.
- Wholesale inventories increased 0.5% in August following a decrease of 0.1%.
- Retail inventories increased 0.8% in August.
- The S&P/Case-Shiller Home Price Index increased 0.6% in July and 3.9% year over year.
- The Conference Board's Consumer Confidence Index increased to 101.8 in September from 86.3.
- The Treasury held auctions for 119-day bills at a rate of 0.090% and 42-day bills at a rate of 0.085%.
Small-cap stocks
In small caps, the Russell 2000 closed at 1,504.73 for a loss of 5.62 points or -0.37%. The S&P 600 closed at 853.35 for a loss of 4.72 points or -0.55%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,654.06 for a loss of 9.50 points or -0.09%. The Dow Jones U.S. Small-Cap Value Index closed at 6,771.59 for a loss of 82.34 points or -1.20%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,848.79 for a loss of 11.48 points or -0.62%; the S&P 100 at 1,545.72 for a loss of 7.29 points or -0.47%; the Nasdaq 100 at 11,322.95 for a loss of 41.50 points or -0.37%; the Russell 3000 at 1,953.05 for a loss of 9.11 points or -0.46%; the Russell 1000 at 1,857.75 for a loss of 8.77 points or -0.47%; the Wilshire 5000 at 34,105.77 for a loss of 165.50 points or -0.48%; and the Dow Jones U.S. Select Dividend Index at 581.09 for a loss of 6.17 points or -1.05%.
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