The Dow Jones Industrial Average closed at 29,397.63 on Wednesday with a loss of 23.29 points or -0.08%. The S&P 500 closed at 3,572.66 for a gain of 27.13 points or 0.77%. The Nasdaq Composite closed at 11,786.43 for a gain of 232.57 points or 2.01%. The VIX Volatility Index was lower at 23.45 for a loss of 1.35 points or -5.44%.
Wednesday's Market Movers
U.S. indexes closed mostly higher on Wednesday with some slower activity due to the Veterans Day holiday. Pfizer (PFE, Financial) and BioNTech (BNTX) reached a deal to provide their vaccine in Europe. In the U.S., announcements suggest the Pfizer vaccine could potentially be vetted by regulators within weeks.
On the earnings calendar:
- Vroom (VRM, Financial): Revenue of $323 million decreased -5.1% year over year and beat estimates by $11.77 million. Q3 GAAP EPS of -$0.31 beat estimates by $0.07 and non-GAAP EPS of -$0.29 beat estimates by $0.07.
- Lemonade (LMND, Financial): Revenue of $17.8 million decreased -6.3% year over year and beat estimates by $3.07 million. Q3 GAAP EPS of -$0.57 beat estimates by $0.08.
Across the board:
- Technology stocks led gains for the day, with the PHLX Semiconductors Index up 3.60%
- Coty (COTY, Financial) +8.18%
- News Corp. (NWSA, Financial) +5.72%
- Qualcomm (QCOM, Financial) +5.41%
- Lands' End (LE, Financial) +16.88%
- Upwork (UPWK, Financial) +14.19%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,736.94 for a loss of 0.074 points or -0.0043%. The S&P 600 closed at 989.44 for a loss of 6.56 points or -0.66%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,047.48 for a gain of 101.47 points or 0.85%. The Dow Jones U.S. Small-Cap Value Index closed at 8007.25 for a loss of 116.15 points or -1.43%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,106.37 for a loss of 2.04 points or -0.097%; the S&P 100 at 1,640.63 for a gain of 17.63 points or 1.09%; the Nasdaq 100 at 11,892.93 for a gain of 268.64 points or 2.31%; the Russell 3000 at 2,105.15 for a gain of 16.28 points or 0.78%; the Russell 1000 at 1,993.93 for a gain of 16.42 points or 0.83%; the Wilshire 5000 at 36,785.57 for a gain of 287.28 points or 0.79%; and the Dow Jones US Select Dividend Index at 655.69 for a loss of 5.67 points or -0.86%.
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