U.S. market indexes continued to gain on Tuesday with the Dow Jones and Nasdaq Composite reaching new highs. For the day, the Dow Jones Industrial Average closed at 19974.62 for a gain of 91.56 points or 0.46%. The S&P 500 closed at 2270.76 for a gain of 8.23 points or 0.36%. The Nasdaq Composite closed at 5483.94 for a gain of 26.50 points or 0.49%. The VIX Volatility Index was lower for the day at 11.38 for a loss of -0.33 points or -2.82%.
Tuesday’s market movers
No major economic data was reported on Tuesday. Banking stocks led gains for the day as higher interest rates influenced valuations. Mortgage applications, existing home sales and the EIA’s weekly petroleum status report are all scheduled for Wednesday.
In the Dow Jones Industrial Average, the following stocks led gains:
Caterpillar (CAT, Financial) 1.76%
Goldman Sachs (GS, Financial) 1.68%
JPMorgan (JPM, Financial) 1.29%
Nike reported its second quarter 2017 earnings after the market’s close with a revenue and earnings per share beat. Revenue was $8.18 billion, up 6.4% from the comparable quarter and beating analysts’ expectations by $90 million. Earnings per share increased 11% from the comparable quarter to 50 cents and beat analysts’ expectations by seven cents.
Financial stocks led gains for the day. The S&P 500 financial sector was up 1.24%. Technology was also higher. The S&P 500 technology sector gained 0.37%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1383.96 for a gain of 12.27 points or 0.89%. The S&P 600 Small-Cap Index closed at 854.67 for a gain of 8.83 points or 1.04%. The Dow Jones Small-Cap Growth TSM Index closed at 8116.62 for a gain of 55.43 points or 0.69%. The Dow Jones Small-Cap Value TSM Index closed at 9822.00 for a gain of 83.37 points or 0.86%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1687.03 for a gain of 9.11 points or 0.54%; the S&P 100 Index at 1005.98 for a gain of 3.65 points or 0.36%; the Russell 3000 Index at 1351.50 for a gain of 5.63 points or 0.42%; the Russell 1000 Index at 1259.58 for a gain of 4.73 points or 0.38%; and the Dow Jones U.S. Select Dividend Index at 642.96 for a gain of 2.35 points or 0.37%.
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