The Dow Jones Industrial Average closed at 30,068.81 on Wednesday with a loss of 105.07 points or -0.35%. The S&P 500 closed at 3,672.82 for a loss of 29.43 points or -0.79%. The Nasdaq Composite closed at 12,338.95 for a loss of 243.82 points or -1.94%. The VIX Volatility Index was higher at 22.28 for a gain of 1.60 points or 7.74%.
Wednesday's market movers
U.S. indexes closed lower Wednesday. Positive vaccine news continued. Pfizer's (PFE, Financial) vaccine was approved for use in Canada. The U.K. continued its distribution, though some allergic reactions are being investigated and a report was released that medical vaccine information may have been hacked in Europe. United Arab Emirates news also reported that a China vaccine has been found to be 86% effective.
Tech stocks led the day's losses. Facebook (FB, Financial) is being sued by the Federal Trade Commission and several states for antitrust violations.
In other news:
- DoorDash (DASH, Financial) launched its initial public offering with a gain of approximately 86%.
- The Treasury secretary has proposed a $916 billion Covid relief bill which includes direct payments to Americans.
- The MBA Mortgage Applications Index decreased 1.2% following a decrease of 0.6%. The MBA's average 30-year mortgage rate decreased to 2.90% from 2.92%.
- The Job Openings and Labor Turnover Survey showed job openings of 6.652 million in October, up from 6.494 million.
- Wholesale inventories increased 1.1% in October following an increase of 0.9%.
- Crude oil inventory was up 15.1 million barrels, according to the EIA's Weekly Petroleum Status Report.
- The Treasury held auctions for 154-day bills at a rate of 0.090%, 105-day bills at a rate of 0.085% and 10-year notes at a rate of 0.951%.
Across the board:
- Cardtronics PLC (CATM, Financial) +31.85%
- Cytokinetics (CYTK, Financial) +22.87%
- Rocket Pharmaceuticals (RCKT, Financial) +83.39%
- Sellas Life Sciences Group (SLS, Financial) +73.17%
- MTS Systems Corporation (MTSC, Financial) +51.84%
- Lowe`s (LOW, Financial) +5.88%
- Cannabis and semiconductors led losses
Small-cap stocks
In small caps, the Russell 2000 closed at 1,902.15 for a loss of 15.63 points or -0.82%. The S&P 600 closed at 1,089.84 for a loss of 0.94 points or -0.086%. The Dow Jones U.S. Small-Cap Growth Index closed at 13,117.52 for a loss of 156.69 points or -1.18%. The Dow Jones U.S. Small-Cap Value Index closed at 8,910.04 for a gain of 14.78 points or 0.17%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,240.49 for a loss of 9.08 points or -0.40%; the S&P 100 at 1,681.08 for a loss of 14.96 points or -0.88%; the Nasdaq 100 at 12,364.64 for a loss of 271.08 points or -2.15%; the Russell 3000 at 2,190.52 for a loss of 20.42 points or -0.92%; the Russell 1000 at 2,067.83 for a loss of 19.43 points or -0.93%; the Wilshire 5000 at 38,249.07 for a loss of 354.07 points or -0.92%; and the Dow Jones U.S. Select Dividend Index at 692.27 for a gain of 0.74 points or 0.11%.
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