The Dow Jones Industrial Average closed at 31,493.34 on Thursday with a loss of 119.68 points or -0.38%. The S&P 500 closed at 3,913.97 for a loss of 17.36 points or -0.44%. The Nasdaq Composite closed at 13,865.36 for a loss of 100.14 points or -0.72%. The VIX Volatility Index was higher at 22.49 for a gain of 0.99 points or 4.60%.
Thursday's Market Movers
U.S. stocks continued their selloff trend, with the S&P 500 closing lower for a third day. Energy led the day's losses. Top names across the board included:
GameStop (GME, Financial) was down -11.43% as Congress held a hearing and listened to testimonies on the stock's recent trading phenomena. Representatives included executives from Robinhood, Reddit, Citadel and Melvin Capital, as well as Reddit commentor Keith Gill.
On the earnings calendar:
- Walmart (WMT, Financial): Revenue of $152.1 billion increased 7.3% year over year and beat estimates by $5.06 billion. Q4 GAAP EPS of -$0.74 missed estimates by $2.24 and non-GAAP EPS of $1.39 missed estimates by $0.12.
- Roku (ROKU, Financial): Revenue of $649.9 million increased 58.0% year over year and beat estimates by $33.4 million. Q4 GAAP EPS of $0.49 beat estimates by $0.54.
On the economic calendar:
- Building permits increased 10.4% in January following an increase of 4.2%. The seasonally adjusted annual rate for building permits increased to 1.881 million from 1.704 million.
- January export and import prices were released. Export prices increased 2.5% in January and 2.3% year over year. Import prices increased 1.4% in January and 0.9% year over year.
- Housing starts decreased by -6% in January following an increase of 8.2%. The seasonally adjusted annual rate for housing starts decreased to 1.58 million from 1.68 million.
- The Philadelphia Fed Manufacturing Index decreased to 23.1 in February from 26.5.
- 861,000 Americans filed for jobless claims, up from 848,000. Continuing jobless claims were 4.494 million, down from 4.558 million.
- Crude oil inventory decreased by -7.4 million barrels, according to the EIA's Weekly Petroleum Status Report.
- The Treasury held auctions for four-week bills at a rate of 0.025%, eight-week bills at a rate of 0.030% and 30-year TIPS at a rate of -0.040%.
- Freddie Mac released its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 2.81%, up from 2.73%. The 15-year fixed-rate mortgage averaged 2.21%, up from 2.19%.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,218.39 for a loss of 37.72 points or -1.67%. The S&P 600 closed at 1,267.12 for a loss of 19.70 points or -1.53%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,339.27 for a loss of 244.29 points or -1.57%. The Dow Jones U.S. Small-Cap Value Index closed at 9,997.66 for a loss of 158.10 points or -1.56%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,496.65 for a loss of 28.96 points or -1.15%; the S&P 100 at 1,793.98 for a loss of 9.16 points or -0.51%; the Nasdaq 100 at 13,637.51 for a loss of 62.20 points or -0.45%; the Russell 3000 at 2,366.09 for a loss of 13.47 points or -0.57%; the Russell 1000 at 2,221.43 for a loss of 10.79 points or -0.48%; the Wilshire 5000 at 41,287.18 for a loss of 231.13 points or -0.56%; and the Dow Jones US Select Dividend Index at 741.77 for a loss of 3.35 points or -0.45%.
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