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Julie Young
Julie Young
Articles (701) 

US Market Indexes' Losses Continue After Rate Announcement

Nike leads losing stocks

U.S. market indexes were lower on Thursday.

For the day, the Dow Jones Industrial Average closed at 21,359.90 for a loss of 14.66 points or 0.07%. The Standard & Poor's 500 closed at 2,432.46 for a loss of 5.46 points or 0.22%. The Nasdaq Composite closed at 6,165.50 for a loss of 29.39 points or 0.47%. The VIX Volatility Index was higher for the day at 10.90 for a gain of 0.26 points or 2.44%.

Thursday’s market movers

Stocks continued to report losses following the Fed’s announcement it will increase its federal funds rate and also reduce its balance sheet which will begin to slightly increase fixed-income product yields. Tech stocks also continued to report losses with increased selling from investors.

Economic reports affecting market trading for the day included the following:

  • Jobless claims decreased by 8,000.
  • Import prices decreased -0.3% for the month, and export prices decreased -0.7%.
  • Industrial production was unchanged from the previous month.
  • The Housing Market Index decreased to 67.
  • Weekly Federal Reserve balance sheet data showed total assets of $4.476 trillion, an increase from $4.462 trillion in the previous week.

In the Dow Jones Industrial Average, the following stocks led losses:

In the broad market, materials stocks led losses. Technology stocks were also lower with the S&P 500 technology sector decreasing -0.45%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1,410.08 for a loss of 7.49 points or 0.53%. The S&P 600 Small-Cap Index closed at 856.96 for a loss of 4.19 points or 0.49%. The Dow Jones Small-Cap Growth TSM Index closed at 8,470.00 for a loss of 53.04 points or 0.62%. The Dow Jones Small-Cap Value TSM Index closed at 9,620.03 for a loss of 48.16 points or 0.50%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,753.30 for a loss of 8.36 points or 0.47%; the S&P 100 Index at 1,071.66 for a loss of 2.34 points or 0.22%; the Russell 3000 Index at 1,440.94 for a loss of 3.80 points or 0.26%; the Russell 1000 Index at 1,348.10 for a loss of 3.26 points or 0.24%; and the Dow Jones U.S. Select Dividend Index at 669.33 for a gain of 0.30 points or 0.04%.

About the author:

Julie Young
Julie Young is a financial journalist with comprehensive experience in the financial services industry. She primarily writes about financial market news and economic trends. Julie holds a Master of Science degree in finance from Boston College and a Bachelor of Science degree in finance from the University of Arkansas.

Rating: 5.0/5 (1 vote)

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Comments

Evan Bleker
Evan Bleker - 4 months ago    Report SPAM

Investors should be much more long term than this article implies and I think trading on news is at best a low return strategy.

In general, though, index investing is going to be a devostating long term strategy. You ca't do what everybody else is doing and expect to earn great returns.

https://www.brokenleginvesting.com/passive-index-investing-poverty-in-retirement/

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