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Julie Young
Julie Young
Articles (1564) 

US Indexes Close Mostly Higher Wednesday

S&P 500 gained 0.18%

The Dow Jones Industrial Average closed at 29,883.79 on Wednesday with a gain of 59.87 points or 0.20%. The S&P 500 closed at 3,669.01 for a gain of 6.56 points or 0.18%. The Nasdaq Composite closed at 12,349.37 for a loss of 5.74 points or -0.05%. The VIX Volatility Index was higher at 21.17 for a gain of 0.40 points or 1.93%.

Wednesday's market movers

U.S. indexes closed mostly higher Wednesday. Cannabis stocks led sector gains with the House of Representatives voting on the MORE Act to legalize weed this week. Energy stocks were also higher on positive vaccine news. Pfizer (NYSE:PFE) and BioNTech's (BNTX) Covid-19 vaccine was approved for emergency use in the U.K. OPEC+ is also expected to extend its production cuts this week.

In other news:

  • Facebook (NASDAQ:FB) has renamed its cryptocurrency Diem.
  • The MBA Mortgage Applications Index decreased 0.6% following an increase of 3.9%. The MBA's average 30-year mortgage rate was unchanged at 2.92%.
  • ADP's November employment report showed an increase of 307,000 payrolls in the private sector, mostly in line with the estimate of 370,000.
  • The ISM New York Index decreased to 44.2 in November from 65.1.
  • Federal Chair Powell and the Treasury secretary testified before the House Financial Services Committee.
  • Crude oil inventory was down 0.7 million barrels, according to the EIA's Weekly Petroleum Status report.
  • The Treasury held auctions for 105-day bills at a rate of 0.085% and 154-day bills at a rate of 0.090%.
  • The Fed Beige Book showed the pace of recovery increased slightly through the fall but the latest second wave has caused regional problems.

Across the board:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,838.03 for a gain of 1.98 points or 0.11%. The S&P 600 closed at 1,051.69 for a gain of 4.94 points or 0.47%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,680.70 for a loss of 55.37 points or -0.43%. The Dow Jones U.S. Small-Cap Value Index closed at 8,607.64 for a gain of 73.08 points or 0.86%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,191.87 for a loss of -2.63 points or -0.12%; the S&P 100 at 1,685.02 for a gain of 5.53 points or 0.33%; the Nasdaq 100 at 12,456.41 for a gain of 1.08 points or 0.0087%; the Russell 3000 at 2,179.13 for a gain of 2.45 points or 0.11%; the Russell 1000 at 2,061.05 for a gain of 2.32 points or 0.11%; the Wilshire 5000 at 38,060.08 for a gain of 51.89 points or 0.14%; and the Dow Jones U.S. Select Dividend Index at 682.16 for a gain of 5.51 points or 0.81%.

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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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