The Dow Jones Industrial Average closed at 30,046.24 on Tuesday with a gain of 454.97 points or 1.54%. The S&P 500 closed at 3,635.41 for a gain of 57.82 points or 1.62%. The Nasdaq Composite closed at 12,036.79 for a gain of 156.15 points or 1.31%. The VIX Volatility Index was lower at 21.64 for a loss of 1.02 points or -4.50%.
Tuesday's market movers
The major U.S. indexes closed with more gains Tuesday. Energy stocks led gains as oil prices increased on vaccine and economic optimism. The S&P 500 energy sector gained 5.14%. Investors were also happy to see transition moves by the Trump administration, providing information to the Biden administration. The Dow Jones soared above 30,000 for the first time and closed at 30,046.24.
On the earnings calendar Tuesday:
- Best Buy's (BBY, Financial) earnings reports showed a beat on revenue and an earnings per share beat of 34 cents.
- Dollar Tree (DLTR, Financial): Revenue of $6.18 billion increased 7.5% year over year and beat estimates by $60 million. Third-quarter GAAP earnings of $1.39 per share beat estimates by 23 cents. Stock gained 14%.
- HP (HPQ, Financial): Revenue of $15.26 billion decreased 1.0% year over year and beat estimates by $540 million. Fourth-quarter GAAP earnings of 49 cents beat estimates by 2 cents and non-GAAP earnings of 62 cents beat estimates by 10. Results showed strong personal computer and printer sales. Stock gained 2.6%.
In other news:
- Tesla (TSLA, Financial) gained 6%, increasing its year-to-date gain to 564%.
- Tilray (TLRY, Financial) +17.22%
- The S&P/Case-Shiller Home Price Index increased 1.2% in September following an increase of 1.2%. Year over year, the Index increased 6.6%.
- The FHFA House Price Index increased 1.7% in September following an increase of 1.5%. Year over year, the Index increased 9.1%.
- The Conference Board's Consumer Confidence Index decreased to 96.1 in November from 101.4.
- The Richmond Fed Manufacturing Index decreased to 15 in November from 29.
- The Treasury held auctions for 118-day bills at a rate of 0.090%, 41-day bills at a rate of 0.075%, seven-year notes at a rate of 0.653% and two-year notes at a rate of 0.053%.
Small-cap stocks
In small caps, the Russell 2000 closed at 1,853.53 for a gain of 35.23 points or 1.94%. The S&P 600 closed at 1,069.41 for a gain of 26.38 points or 2.53%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,665.69 for a gain of 103.80 points or 0.83%. The Dow Jones U.S. Small-Cap Value Index closed at 8,796.83 for a gain of 289.09 points or 3.40%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,217.84 for a gain of 36.24 points or 1.66%; the S&P 100 at 1,662.49 for a gain of 28.21 points or 1.73%; the Nasdaq 100 at 12,079.81 for a gain of 173.87 points or 1.46%; the Russell 3000 at 2,160.58 for a gain of 33.39 points or 1.57%; the Russell 1000 at 2,041.22 for a gain of 31.06 points or 1.55%; the Wilshire 5000 at 37,726.41 for a gain of 587.95 points or 1.58%; and the Dow Jones U.S. Select Dividend Index at 693.81 for a gain of 21.56 points or 3.21%.
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