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Julie Young
Julie Young
Articles (1563) 

US Indexes End Lower Tuesday

Retail sales increased 0.3% in October

The Dow Jones Industrial Average closed at 29,783.35 on Tuesday with a loss of 167.09 points or -0.56%. The S&P 500 closed at 3,609.53 for a loss of 17.38 points or -0.48%. The Nasdaq Composite closed at 11,899.34 for a loss of 24.79 points or -0.21%. The VIX Volatility Index was higher at 22.74 for a gain of 0.29 points or 1.29%.

Tuesday's market movers

The major U.S. indexes ended lower Tuesday after new highs Monday from the Dow Jones and S&P 500. Investors were watching the October retail sales report and earnings reports from Walmart, Home Depot and Kohl's.

  • Retail sales increased 0.3% in October following an increase of 1.6% and were just below estimates. Retail sales excluding autos increased 0.2% following an increase of 1.2%. Investors were concerned about a potentially softer-than-expected fourth quarter.
  • Walmart (NYSE:WMT): Revenue of $134.71 billion increased 5.2% year over year and beat estimates by $3.18 billion. Third-quarter GAAP earnings of $1.80 per share beat estimates by 60 cents and non-GAAP earnings of $1.34 beat estimates by 15 cents.
  • Home Depot (NYSE:HD): Revenue of $33.54 billion increased 23.2% year over year and beat estimates by $1.74 billion. Third-quarter GAAP earnings of $3.18 beat estimates by 15 cents.
  • Kohl's (NYSE:KSS): Revenue of $3.98 billion decreased 14.0% year over year and beat estimates by $90 million. The third-quarter GAAP loss of 8 cents per share beat estimates by 39 cents and non-GAAP earnings of 1 cent beat estimates by 44 cents.

In other news:

  • Tesla (NASDAQ:TSLA) will be added to the S&P 500.
  • Pfizer (NYSE:PFE) announced some distribution plans for a Covid-19 vaccine and said they could apply for emergency use authorization by the end of November.
  • Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) chief executives testified before Congress.
  • Amazon (NASDAQ:AMZN) announced the launch of a pharmacy business.
  • Business inventories increased 0.7% in September following an increase of 0.3%.
  • Export and import prices were released. Export prices increased 0.2% in October and decreased 1.6% year over year. Import prices decreased 0.1% in October and decreased 1% year over year.
  • The Federal Reserve released its Industrial Production and Capacity Utilization. Industrial production increased 1.1% in October and decreased 5.3% year over year. Manufacturing production increased 1% in October and decreased 3.9% year over year. Capacity utilization increased to 72.8% in October from 72%.
  • The NAHB Housing Market Index increased to 90 in November from 85.
  • The Treasury held auctions for 119-day bills at a rate of 0.095% and 42-day bills at a rate of 0.095%.
  • The September Treasury International Capital report was released. Overall net capital flows were -$79.9 billion. Foreign bond investments were $22.5 billion and net long-term Treasury international capital flows were $108.9 billion.

Across the board:

  • Utilities and semiconductors led losses.
  • Cannabis stocks led gains.
  • Kohl's (NYSE:KSS) +11.59%
  • Tesla (NASDAQ:TSLA) +8.21%
  • Walgreens (NASDAQ:WBA) and CVS (NYSE:CVS) were lower after Amazon's pharmacy news.

Small-cap stocks

In small caps, the Russell 2000 closed at 1,791.91 for a gain of 6.57 points or 0.37%. The S&P 600 closed at 1,028.57 for a gain of 5.05 points or 0.49%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,322.72 for a gain of 53.80 points or 0.44%. The Dow Jones U.S. Small-Cap Value Index closed at 8,397.54 for a gain of 29.48 points or 0.35%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,159.63 for a gain of 4.08 points or 0.19%; the S&P 100 at 1,653.45 for a loss of 8.07 points or -0.49%; the Nasdaq 100 at 11,977.49 for a loss of 35.90 points or -0.30%; the Russell 3000 at 2,133.08 for a loss of 5.43 points or -0.25%; the Russell 1000 at 2,018.03 for a loss of 5.96 points or -0.29%; the Wilshire 5000 at 37,279.00 for a loss of 100.32 points or -0.27%; and the Dow Jones U.S. Select Dividend Index at 671.18 for a loss of 2.23 points or -0.33%.

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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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