The Dow Jones Industrial Average closed at 29,823.92 on Tuesday with a gain of 185.28 points or 0.63%. The S&P 500 closed at 3,662.45 for a gain of 40.82 points or 1.13%. The Nasdaq Composite closed at 12,355.11 for a gain of 156.37 points or 1.28%. The VIX Volatility Index was higher at 20.77 for a gain of 0.20 points or 0.97%.
Tuesday's market movers
U.S. indexes closed with gains to start the month of December. Consumers continued to show resilience in holiday retail shopping online. Optimism over Covid-19 vaccines also carried over into the new month. Both Pfizer (PFE, Financial) and Moderna (MRNA, Financial) have now applied for emergency use authorization for their vaccines with expected approval dates in mid-December.
In other news:
- Salesforce (CRM, Financial) announced earnings and its intended acquisition of Slack (WORK, Financial).
- Fed Chair Jerome Powell and the Treasury secretary presented a quarterly Cares Act report to the Senate Banking Committee.
- Visa (V, Financial) has launched a credit card with bitcoin rewards.
- The Markit Manufacturing PMI increased to 56.7 from 53.4.
- The ISM Manufacturing PMI decreased to 57.5 in November from 59.3. Separately, the ISM Manufacturing Prices Index decreased to 65.4 from 65.5, the ISM Manufacturing New Orders Index decreased to 65.1 from 67.9 and the ISM Manufacturing Employment Index decreased to 48.4 from 53.2.
- Construction spending increased 1.3% in October after a decrease of 0.5%.
- The Treasury held auctions for 119-day bills at a rate of 0.090%, 42-day bills at a rate of 0.080% and 52-week bills at a rate of 0.110%.
Across the board:
- Semiconductors led gains.
- Kohl's Corp. (KSS, Financial) +13.45%
- Western Digital (WDC, Financial) +5.33%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,836.05 for a gain of 16.23 points or 0.89%. The S&P 600 closed at 1,046.75 for a gain of 12.24 points or 1.18%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,736.07 for a gain of 84.46 points or 0.67%. The Dow Jones U.S. Small-Cap Value Index closed at 8,534.55 for a gain of 148.66 points or 1.77%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,194.50 for a gain of 26.00 points or 1.20%; the S&P 100 at 1,679.49 for a gain of 20.72 points or 1.25%; the Nasdaq 100 at 12,455.33 for a gain of 187.01 points or 1.52%; the Russell 3000 at 2,176.68 for a gain of 22.39 points or 1.04%; the Russell 1000 at 2,058.72 for a gain of 21.37 points or 1.05%; the Wilshire 5000 at 38,007.94 for a gain of 406.52 points or 1.08%; and the Dow Jones U.S. Select Dividend Index at 676.65 for a gain of 9.13 points or 1.37%.
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