The Dow Jones Industrial Average closed at 34,060.66 on Tuesday with a loss of 267.13 points or -0.78%. The S&P 500 closed at 4,127.83 for a loss of 35.46 points or -0.85%. The Nasdaq Composite closed at 13,303.64 for a loss of 75.41 points or -0.56%. The VIX Volatility Index was higher at 21.34 for a gain of 1.62 points or 8.22%.
Tuesday's market movers
The major U.S. indexes ended lower again Tuesday. Risk appetite for stocks was down as investors see uncertainty in the economy's recovery, inflation rates and potential actions by the Federal Reserve. Large retailers began to signal the end of the first-quarter earnings season.
- Walmart (WMT, Financial): Revenue of $138.3 billion increased 2.7% year over year and beat estimates by $6.17 billion. First-quarter GAAP earnings of 97 cents per share missed estimates by 26 cents and non-GAAP earnings of $1.69 beat estimates by 48 cents. Stock gained 2.15%.
- Home Depot (HD, Financial): Revenue of $37.5 billion increased 32.7% year over year and beat estimates by $3.01 billion. First-quarter GAAP earnings of $3.86 per share beat estimates by 84 cents. Stock down 1.02%.
- Macy's (M, Financial): Revenue of $4.71 billion increased 56.0% year over year and beat estimates by $420 million. First-quarter GAAP earnings of 32 cents per share beat estimates by 79 cents and non-GAAP earnings of 39 cents beat estimates by 77 cents. Stock down 0.37%.
In other news:
- The April New Residential Construction report was released. Building permits increased 0.3% in April following an increase of 1.7%. Housing starts decreased 9.5% following an increase of 19.8%.
- The Treasury held auctions for 52-week bills at a rate of 0.055% and 42-day bills at a rate of 0.005%.
- Google began its I/O Conference for developers.
- Global X Cannabis ETF (POTX, Financial) rose 4.31%.
- The 10-year Treasury yield was mostly unchanged at 1.64%.
- The Grayscale Digital Fund (GDLC, Financial) was down 3.57% and the Bitwise 10 Crypto Index Fund (BITW, Financial) was down 2.78% as global crypto mining energy consumption remains a top headline for investors.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,210.88 for a loss of 16.24 points or -0.73%. The S&P 600 closed at 1,341.76 for a loss of 15.07 points or -1.11%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,307.06 for a loss of 35.90 points or -0.25%. The Dow Jones U.S. Small-Cap Value Index closed at 11,389.78 for a loss of 143.51 points or -1.24%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,690.46 for a loss of 28.04 points or -1.03%; the S&P 100 at 1,868.68 for a loss of 15.88 points or -0.84%; the Nasdaq 100 at 13,217.68 for a loss of 95.23 points or -0.72%; the Russell 3000 at 2,461.21 for a loss of 19.07 points or -0.77%; the Russell 1000 at 2,318.11 for a loss of 18.02 points or -0.77%; the Wilshire 5000 at 43,038.23 for a loss of 332.84 points or -0.77%; and the Dow Jones US Select Dividend Index at 867.66 for a loss of 9.85 points or -1.12%.
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