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Julie Young
Julie Young
Articles (1527) 

US Indexes Rebound and Close Higher Wednesday

Dow Jones gains 1.91%

The Dow Jones Industrial Average closed at 28,303.46 on Wednesday with a gain of 530.70 points or 1.91%. The S&P 500 closed at 3,419.45 for a gain of 58.50 points or 1.74%. The Nasdaq Composite closed at 11,364.60 for a gain of 210.00 points or 1.88%. The VIX Volatility Index was lower at 28.06 for a loss of 1.42 points or -4.82%.

Wednesday's Market Movers

U.S. indexes rebounded Wednesday, after President Trump changed his rhetoric slightly on economic stimulus. In the tech sector, a Congressional antitrust subcommittee released a report suggesting antitrust actions needed for Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB). The companies had the following returns for the day:

  • Facebook: -0.30%
  • Alphabet Class C: 0.36%
  • Alphabet Class A: 0.55%
  • Apple: 1.69%
  • Amazon: 3.19%

Across other sectors, materials, consumer discretionary and biotech all posted strong gains for the day. Across the board, the following stocks led gains:

In other news:

  • The MBA Mortgage Applications Index increased 4.6% following a decrease of -4.8%. The MBA's average 30-year mortgage rate decreased to 3.01% from 3.05%.
  • Crude oil inventory decreased -0.6 million barrels, according to the EIA's Weekly Petroleum Status report.
  • The Treasury held auctions for 105-day bills at a rate of 0.100%, 154-day bills at a rate of 0.110% and 10-year notes at a rate of 0.765%.
  • The Federal Open Market Committee released the minutes from its September meeting. The minutes reported positive economic data with activity better than expected.
  • Consumer credit outstanding decreased by -$7.22 billion in August following an increase of $12.25 billion.
  • Citigroup must pay a $400 million regulatory fine for risk-management deficiencies.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,611.04 for a gain of 33.75 points or 2.14%. The S&P 600 closed at 908.49 for a gain of 13.23 points or 1.48%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,331.06 for a gain of 245.36 points or 2.21%. The Dow Jones U.S. Small-Cap Value Index closed at 7,288.06 for a gain of 128.82 points or 1.80%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,971.12 for a gain of 34.27 points or 1.77%; the S&P 100 at 1,577.80 for a gain of 27.65 points or 1.78%; the Nasdaq 100 at 11,503.19 for a gain of 211.92 points or 1.88%; the Russell 3000 at 2,013.44 for a gain of 35.14 points or 1.78%; the Russell 1000 at 1,910.77 for a gain of 32.93 points or 1.75%; the Wilshire 5000 at 35,129.16 for a gain of 607.45 points or 1.76%; and the Dow Jones US Select Dividend Index at 612.93 for a gain of 10.97 points or 1.82%.

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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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