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Julie Young
Julie Young
Articles (1588) 

US Indexes Close Higher Wednesday

Biden and Harris inaugurated

The Dow Jones Industrial Average closed at 31,188.38 on Wednesday with a gain of 257.86 points or 0.83%. The S&P 500 closed at 3,851.85 for a gain of 52.94 points or 1.39%. The Nasdaq Composite closed at 13,457.25 for a gain of 260.07 points or 1.97%. The VIX Volatility Index was lower at 21.58 for a loss of 1.66 points or -7.14%.

Wednesday's market movers

U.S. indexes closed with gains Wednesday as investors cheered the Biden and Harris inaugurations. The new presidential administration called for unity and a fresh start for America.

Earnings headlines for the day included:

  • UnitedHealth (NYSE:UNH): Revenue of $65.47 billion increased 7.5% year over year and beat estimates by $490 million. Fourth-quarter GAAP earnings of $2.30 per share beat estimates by 6 cents and non-GAAP earnings of $2.52 beat estimates by 13 cents.
  • Procter & Gamble (NYSE:PG): Revenue of $19.75 billion increased 8.3% year over year and beat estimates by $500 million. Fiscal second-quarter GAAP earnings of $1.47 per share missed estimates by 2 cents and non-GAAP earnings of $1.64 beat estimates by 13 cents.
  • Morgan Stanley (NYSE:MS): Revenue of $13.64 billion increased 25.6% year over year and beat estimates by $2.11 billion. Fourth-quarter GAAP earnings of $1.81 beat estimates by 55 cents and non-GAAP earnings of $1.92 beat estimates by 64 cents.

In other news:

  • President Trump issued 143 pardons and commutations on his last day of office.
  • Pfizer (NYSE:PFE) and BioNtech (BNTX) say their vaccine is effective against a newly publicized U.K. variation of Covid-19.
  • The MBA Mortgage Applications Index decreased 1.9% following an increase of 16.7%. The MBA's average 30-year mortgage rate increased to 2.92% from 2.88%.
  • The NAHB Housing Market Index decreased to 83 in January from 86.
  • The Treasury held auctions for 105-day bills at a rate of 0.085%, 154-day bills at a rate of 0.090% and 20-year bonds at a rate of 1.657%.

Across the board:

Small-cap stocks

In small caps, the Russell 2000 closed at 2,160.62 for a gain of 9.48 points or 0.44%. The S&P 600 closed at 1,229.82 for a gain of 5.52 points or 0.45%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,079.45 for a gain of 79.60 points or 0.53%. The Dow Jones U.S. Small-Cap Value Index closed at 9,742.67 for a gain of 29.97 points or 0.31%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,469.01 for a gain of 24.91 points or 1.02%; the S&P 100 at 1,761.98 for a gain of 30.56 points or 1.77%; the Nasdaq 100 at 13,296.45 for a gain of 299.91 points or 2.31%; the Russell 3000 at 2,322.87 for a gain of 29.63 points or 1.29%; the Russell 1000 at 2,182.14 for a gain of 29.18 points or 1.36%; the Wilshire 5000 at 40,516.54 for a gain of 530.24 points or 1.33%; and the Dow Jones U.S. Select Dividend Index at 723.11 for a loss of 0.58 points or -0.080%.

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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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