The Dow Jones Industrial Average closed at 30,335.67 on Tuesday with a loss of 68.30 points or -0.22%. The S&P 500 closed at 3,727.04 for a loss of 8.32 points or -0.22%. The Nasdaq Composite closed at 12,850.22 for a loss of 49.20 points or -0.38%. The VIX Volatility Index was higher at 23.08 for a gain of 1.38 points or 6.36%.
Tuesday's market movers
U.S. stocks ended lower Tuesday. The House of Representatives passed a bill late Monday to increase stimulus checks to $2,000. Leaders in the Senate considered the possibility of an immediate vote on Tuesday, but objection from the majority leader kept the Senate from voting. It's unclear when the Senate will vote on the stimulus bill. The stimulus voting uncertainty also adds to the uncertain timing of the $600 stimulus bill that has already been passed. The Treasury secretary has not given clear details on when direct payments will begin. It seems the Treasury is planning to go ahead with $600 payments regardless of the $2,000 stimulus bill voting. Since Friday is a federal holiday, most headlines are suggesting as soon as early next week for the $600 direct deposit payments.
In other news:
- The S&P/Case-Shiller Home Price Index increased 1.3% in October and 7.9% year over year.
- The Treasury held auctions for 42-day bills at a rate of 0.085%, 119-day bills at a rate of 0.095%, 52-week bills at a rate of 0.110% and 7-year notes at a rate of 0.662%.
- The Federal Reserve extended the expiration of its Main Street lending program to Jan. 8.
- The House of Representatives voted to override the recent defense bill veto.
- Cannabis and biotech led the day's losses.
- BioNano Genomics (BNGO, Financial) +50.42%
- Intel (INTC, Financial) +4.93%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,959.36 for a loss of 36.89 points or -1.85%. The S&P 600 closed at 1,107.35 for a loss of 17.59 points or -1.56%. The Dow Jones U.S. Small-Cap Growth Index closed at 13,685.99 for a loss of 244.79 points or -1.76%. The Dow Jones U.S. Small-Cap Value Index closed at 8,931.93 for a loss of 126.24 points or -1.39%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,283.99 for a loss of 25.53 points or -1.11%; the S&P 100 at 1,713.22 for a loss of 1.99 points or -0.12%; the Nasdaq 100 at 12,843.49 for a gain of 4.63 points or 0.036%; the Russell 3000 at 2,232.01 for a loss of 8.84 points or -0.39%; the Russell 1000 at 2,105.45 for a loss of 6.17 points or -0.29%; the Wilshire 5000 at 38,946.38 for a loss of 142.18 points or -0.36%; and the Dow Jones U.S. Select Dividend Index at 677.82 for a loss of 4.50 points or -0.66%.
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