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Julie Young
Julie Young
Articles (1527) 

US Indexes Close Lower Tuesday

S&P 500 down -0.63%

The Dow Jones Industrial Average closed at 28,679.81 on Tuesday with a loss of 157.71 points or -0.55%. The S&P 500 closed at 3,511.93 for a loss of 22.29 points or -0.63%. The Nasdaq Composite closed at 11,863.90 for a loss of 12.36 points or -0.10%. The VIX Volatility Index was higher at 26.07 for a gain of 1.0 point or 3.99%.

Tuesday's Market Movers

U.S. indexes closed lower Tuesday. Across sectors, the Nasdaq Biotech Index led gains and the S&P 500 financials sector led losses.

Bank earnings kicked off with reports from JPMorgan (NYSE:JPM) and Citigroup (NYSE:C):

  • JPMorgan: Revenue of $29.15 billion decreased -3.0% year over year and beat estimates by $960 million. Q3 GAAP EPS of $2.92 beat estimates by $0.73.
  • Citigroup: Revenue of $17.3 billion decreased -6.8% year over year and beat estimates by $120 million. Q3 GAAP EPS of $1.40 beat estimates by $0.49.

Johnson and Johnson (NYSE:JNJ) also released earnings. The day's releases included the announcement of a pause for the company's Covid-19 drug trials due to an unexplained illness. Q3 revenue was $21.08 billion, an increase of 1.7% year over year and a beat of $930 million. GAAP EPS of $1.33 missed estimates by $0.37 and Q3 non-GAAP EPS of $2.20 beat estimates by $0.22.

Other stock highlights included:

  • Amazon (NASDAQ:AMZN) up 0.02% on its first day of Prime Day sales.
  • Apple (NASDAQ:AAPL) down -2.65% with the launch of its 5G iPhone 12.
  • Boeing (NYSE:BA) down -3.13% with tariffs approved in the European Union.

Across the board, the following stocks reported leading gains and losses for the day:

Economic reports affecting market trading included the following:

  • The NFIB Business Optimism Index increased to 104 in September from 100.2.
  • The Consumer Price Index increased 0.2% in September and 1.4% year over year. The Consumer Price Index excluding food and energy increased 0.2% in September and 1.7% year over year.
  • The Treasury held auctions for three-month bills at a rate of 0.105% , six-month bills at a rate of 0.115%, 119-day bills at a rate of 0.110% and 43-day bills at a rate of 0.095%.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,636.85 for a loss of 12.21 points or -0.74%. The S&P 600 closed at 922.27 for a loss of 10.51 points or -1.13%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,631.78 for a loss of 2.54 points or -0.02%. The Dow Jones U.S. Small-Cap Value Index closed at 7,301.68 for a loss of 138.37 points or -1.86%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,993.07 for a loss of 16.00 points or -0.80%; the S&P 100 at 1,628.50 for a loss of -9.05 points or -0.55%; the Nasdaq 100 at 12,083.17 for a loss of 4.93 points or -0.041%; the Russell 3000 at 2,066.54 for a loss of 11.14 points or -0.54%; the Russell 1000 at 1,962.40 for a loss of 10.33 points or -0.52%; the Wilshire 5000 at 36,062.77 for a loss of 207.15 points or -0.57%; and the Dow Jones US Select Dividend Index at 615.51 for a loss of 9.06 points or -1.45%.

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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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