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Julie Young
Julie Young
Articles (1526) 

US Indexes End Higher Tuesday

S&P 500 gains 0.47%

The Dow Jones Industrial Average closed at 28,308.79 on Tuesday with a gain of 113.37 points or 0.40%. The S&P 500 closed at 3,443.12 for a gain of 16.20 points or 0.47%. The Nasdaq Composite closed at 11,516.49 for a gain of 37.61 points or 0.33%. The VIX Volatility Index was higher at 29.35 for a gain of 0.17 points or 0.58%.

Tuesday's market movers

U.S. indexes ended the day higher after reports showed Pelosi and the Treasury secretary closer to a stimulus deal agreement. The Nasdaq Biotech Index ended with a loss of approximately 0.70%. Moderna (MRNA) has announced it could be able to match an emergency vaccine authorization timeline similar to Pfizer (PFE), making the two companies frontrunners for a November-December approval.

Alphabet's shares (NASDAQ:GOOG)(NASDAQ:GOOGL) both gained approximately 1.4% despite a legal filing from the U.S. Justice Department and 11 states against the company. The filing begins a long journey of legal proceedings in which the Justice Department is looking for a ruling that would require spinoffs of the company to divest its power.

On the third-quarter earnings calendar:

  • Procter & Gamble (NYSE:PG): Revenue of $19.32 billion increased 8.5% year over year and beat estimates by $930 million. First-quarter GAAP earnings of $1.63 per share beat estimates by 20 cents.
  • Travelers (NYSE:TRV): Earned premiums of $7.38 billion increased 2.8% year over year and beat estimates by $60 million. Third-quarter GAAP earnings of $3.23 per share missed estimates by 1 cent and non-GAAP earnings of $3.12 beat estimates by 5 cents.
  • Netflix (NASDAQ:NFLX): Revenue of $6.44 billion increased 22.7% year over year and beat estimates by $60 million. Third-quarter GAAP earnings of $1.74 per share missed estimates by 39 cents.

In other news:

  • The September Residential Construction report was released. September housing starts increased 1.9% to a seasonally adjusted annual rate of 1.415 million. September building permits increased 5.2% to a seasonally adjusted annual rate of 1.553 million.
  • Intel (NASDAQ:INTC) announced the sale of its NAND memory business and reported a 2.1% loss for the day.
  • The Treasury held auctions for 119-day bills at a rate of 0.105% and 42-day bills at a rate of 0.090%.
  • New Jersey Governor Murphy is leading a charge for all electric vehicles in the state, jumping on the California bandwagon with a 100% electric vehicle target for 2035.

Across the board, the energy sector led the day's gains:

  • Avis Budget Group (CAR) +9.49%
  • General Motors (GM) +6.75%
  • Noble Energy (NBL) -100.00%
  • Alexandria Advantage (AAWC) -12.06%
  • IBM (IBM) -6.54%
  • Travelers (NYSE:TRV) +5.43%
  • Walgreens (WBA) +1.41%
  • Apple (AAPL) +1.32%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,617.71 for a gain of 4.08 points or 0.25%. The S&P 600 closed at 919.25 for a gain of 6.16 points or 0.67%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,420.81 for a loss of 18.37 points or -0.16%. The Dow Jones U.S. Small-Cap Value Index closed at 7,318.93 for a gain of 79.38 points or 1.10%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,984.26 for a gain of 10.45 points or 0.53%; the S&P 100 at 1,590.19 for a gain of 7.87 points or 0.50%; the Nasdaq 100 at 11,677.84 for a gain of 43.49 points or 0.37%; the Russell 3000 at 2,027.26 for a gain of 7.75 points or 0.38%; the Russell 1000 at 1,924.22 for a gain of 7.51 points or 0.39%; the Wilshire 5000 at 35,360.16 for a gain of 146.59 points or 0.42%; and the Dow Jones U.S. Select Dividend Index at 615.45 for a gain of 3.59 points or 0.59%.

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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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