U.S. market indexes were lower Tuesday. For the day, the Dow Jones Industrial Average closed at 18128.66 for a loss of -200.38 points, or -1.09%. The S&P 500 was also lower, closing at 2136.73 for a loss of -26.93 points, or -1.24%. The Nasdaq Composite closed lower at 5246.79 for a loss of -81.89 points, or -1.54%. The VIX Volatility Index was higher at 15.40 for a gain of 2.02 points, or 15.10%.
In the Dow Jones Industrial Average, stocks leading losses included the following:
UnitedHealth (UNH, Financial) -2.44%
Intel (INTC, Financial) -2.00%
Johnson & Johnson (JNJ, Financial) -1.79%
American Express (AXP, Financial) -1.66%
Microsoft (MSFT, Financial) -1.48%
Leading economic reports on the calendar for Tuesday included the NFIB Small Business Optimism Index and the Labor Market Conditions Index. The NFIB Small Business Optimism Index was just below the previous month's report at 94.1. The Labor Market Conditions Index was lower for the month at -2.2. The previous month’s report showed an Index reading of -0.7.
Stocks were lower Tuesday after Alcoa (AA, Financial) kicked off the earnings season with a revenue and earnings miss. Revenue missed analysts’ expectations by $120 million at $5.21 billion. Earnings missed expectations by three cents at 32 cents. Oil inventory and prices were also a factor as discussions continued regarding an OPEC agreement.
A CNBC report Tuesday provided more details on oil prices and the outlook for the energy market.
Disclosure: I do not own any stocks included in this article.
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