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Julie Young
Julie Young
Articles (1594) 

US Stocks Close Mostly Higher Wednesday

Overall changes were mostly flat

The Dow Jones Industrial Average closed at 31,060.47 on Wednesday with a loss of 8.22 points or -0.03%. The S&P 500 closed at 3,809.84 for a gain of 8.65 points or 0.23%. The Nasdaq Composite closed at 13,128.95 for a gain of 56.52 points or 0.43%. The VIX Volatility Index was lower at 22.21 for a loss of 1.12 points or -4.80%.

Wednesday's Market Movers

U.S. stocks closed mostly higher Wednesday. The House of Representatives voted to impeach President Trump for a second time, though Senate Majority Leader McConnell says the Senate will not reconvene early to take up the impeachment vote.

In other news:

  • The U.S. posted another single-day Covid-19 deaths record.
  • The MBA Mortgage Applications Index increased 16.7% following an increase of 1.7%. The MBA's average 30-year mortgage rate increased to 2.88% from 2.86%.
  • The Consumer Price Index increased 0.4% in December following an increase of 0.2%. Year over year, the Consumer Price Index increased 1.4%, up from 1.2%.
  • The Core Consumer Price Index increased 0.1% in December following an increase of 0.2%. Year over year, the Core Consumer Price Index increased 1.6%, unchanged from the previous month's report.
  • Crude oil inventory decreased by 3.2 million barrels, according to the EIA's Weekly Petroleum Status Report.
  • The Treasury held auctions for 105-day bills at a rate of 0.090%, 154-day bills at a rate of 0.090% and 30-year bonds at a rate of 1.825%.
  • The Fed's Beige Book release reported modest economic growth.
  • The Treasury's December Budget Statement showed a deficit of $144 billion following a deficit of $145 billion.

Across the board:

  • Affirm (NASDAQ:AFRM) launched its initial public offering with a 98.45% gain.
  • Intel (NASDAQ:INTC) is replacing its chief executive officer with Pat Gelsinger
  • GameStop (NYSE:GME) gained 57.39%
  • Exela Technologies (NASDAQ:XELA) gained 47.89%
  • Target (NYSE:TGT) showed holiday comparable sales up 17.2% and digital comparable sales up 102%, but the stock was down -1.15% for the day.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 2,111.97 for a loss of 15.99 points or -0.75%. The S&P 600 closed at 1,205.16 for a loss of 10.30 points or -0.85%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,702.20 for a loss of 69.49 points or -0.47%. The Dow Jones U.S. Small-Cap Value Index closed at 9,627.82 for a loss of 87.39 points or -0.90%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,426.08 for a loss of 22.80 points or -0.93%; the S&P 100 at 1,739.67 for a gain of 9.47 points or 0.55%; the Nasdaq 100 at 12,973.63 for a gain of 81.54 points or 0.63%; the Russell 3000 at 2,295.14 for a gain of 2.14 points or 0.093%; the Russell 1000 at 2,157.79 for a gain of 3.34 points or 0.16%; the Wilshire 5000 at 40,021.52 for a gain of 43.96 points or 0.11%; and the Dow Jones US Select Dividend Index at 720.91 for a loss of 0.97 points or -0.13%.

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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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