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Julie Young
Julie Young
Articles (752) 

US Market Indexes Report New Highs on Wednesday

Dow Jones, S&P 500 and Nasdaq Composite reach new highs

The U.S. market’s three leading indexes all reported new highs on Wednesday. The Dow Jones Industrial Average closed at 22,872.89 for a gain of 42.21 points or 0.18%. The S&P 500 closed at 2,555.24 for a gain of 4.60 points or 0.18%. The Nasdaq Composite closed at 6,603.55 for a gain of 16.30 points or 0.25%. The VIX Volatility Index was lower for the day at 9.76 for a loss of -0.32 points or -3.17%.

Wednesday’s market movers

Indexes reached new highs with a positive outlook for earnings and the Federal Reserve’s minutes showing one more likely rate increase.

Economic reports affecting market trading on Wednesday included the following:

  • The Mortgage Bankers Association’s mortgage applications index decreased -2.1%.
  • The Federal Open Market Committee released its September meeting minutes. The Fed kept the federal funds rate unchanged and reported it would take steps to begin reducing the $4.5 trillion balance sheet. It plans to limit the reinvestment of maturing Treasuries and mortgage-backed securities.

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

Johnson & Johnson (NYSE:JNJ) 1.99%

Wal-Mart (NYSE:WMT) 1.82%

McDonald's (NYSE:MCD) 1.56%

Visa (NYSE:V) 1.03%

DuPont (NYSE:DD) 0.89%

Exxon Mobil (NYSE:XOM) 0.44%

Coca-Cola (NYSE:KO) 0.44%

Apple (NASDAQ:AAPL) 0.40%

In the broad market, real estate and utilities led gains. Technology was also higher with the S&P 500 technology sector gaining 0.37%.

Small-cap stocks

In small-caps, the Russell 2000 closed at 1,506.92 for a loss of -1.08 points or -0.07%. The S&P 600 closed at 910.54 for a loss of -1.96 points or -0.21%. The Dow Jones Small-Cap Growth TSM Index closed at 9,122.45 for a loss of -6.40 points or -0.07%. The Dow Jones Small-Cap Value TSM Index closed at 10,073.49 for a loss of -3.79 points or -0.04%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,819.74 for a gain of 1.16 points or 0.06%; the S&P 100 Index at 1,128.89 for a gain of 2.40 points or 0.21%; the Russell 3000 Index at 1,516.29 for a gain of 2.33 points or 0.15%; the Russell 1000 Index at 1,416.75 for a gain of 2.44 points or 0.17%; and the Dow Jones U.S. Select Dividend Index at 679.58 for a gain of 1.22 points or 0.18%.

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.

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