US Market Indexes Lower, Technology Stock Volatility a Factor

Dow Jones closes at 21310.66

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Jun 27, 2017
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U.S. market indexes were lower Tuesday. For the day, the Dow Jones Industrial Average closed at 21310.66 for a loss of -98.89 points or -0.46%. The S&P 500 closed at 2419.38 for a loss of -19.69 points or -0.81%. The Nasdaq Composite closed at 6146.62 for a loss of -100.53 points or -1.61%. The VIX Volatility Index closed at 11.06 for a gain of 1.16 points or 11.72%.

Tuesday’s market movers

Technology stocks were lower on Tuesday and a delayed health care bill also created uncertainty. Economic reports affecting market trading included the following:

  • The S&P Corelogic Case-Shiller Home Price Index increased 0.3% for the month, which was below consensus of 0.6% and also below the prior month’s increase of 0.5%.
  • The Conference Board’s Consumer Confidence Index increased to 118.9 from 117.6 and was above consensus of 116.7.
  • Federal Reserve Chair Janet Yellen spoke in London with British Academy President Lord Nicholas Stern, discussing important factors for the Fed, including inflation and its balance sheet.

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

Verizon (VZ, Financial) -1.99%

Microsoft (MSFT, Financial) -1.87%

Cisco (CSCO, Financial) -1.49%

General Electric (GE, Financial) -1.45%

In the broad market, technology stocks led losses. The S&P 500 technology sector was down -1.64%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1403.52 for a loss of -13.12 points or -0.93%. The S&P 600 Small-Cap Index closed at 847.58 for a loss of -6.86 points or -0.80%. The Dow Jones Small-Cap Growth TSM Index closed at 8487.03 for a loss of -98.86 points or -1.15%. The Dow Jones Small-Cap Value TSM Index closed at 9481.83 for a loss of -58.30 points or -0.61%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1736.58 for a loss of -14.17 points or -0.81%; the S&P 100 Index at 1066.36 for a loss of -8.90 points or -0.83%; the Russell 3000 Index at 1433.44 for a loss of -12.08 points or -0.84%; the Russell 1000 Index at 1341.03 for a loss of -11.20 points or -0.83%; and the Dow Jones U.S. Select Dividend Index at 661.66 for a loss of -4.32 points or -0.65%.