U.S. market indexes were mixed on Wednesday. The Dow Jones Industrial Average closed at 23,435.01 for a gain of 57.77 points or 0.25%. The S&P 500 closed at 2,579.36 for a gain of 4.10 points or 0.16%. The Nasdaq Composite closed at 6,716.53 for a loss of -11.14 points or -0.17%. The VIX Volatility Index was lower for the day at 10.13 for a loss of -0.05 points or -0.49%.
Wednesday’s market movers
Large-cap stocks led gains on Wednesday after the Federal Open Market Committee reported it would keep the federal funds rate unchanged.
Economic reports affecting market trading included the following:
- Motor vehicle sales for October were reported on Wednesday. Preliminary numbers show sales matching September's record-high levels.
- The Mortgage Bankers Association’s mortgage applications index was lower for the week, down -2.6%.
- The ADP private sector employment report showed an increase of 235,000 jobs in the private sector, which was above consensus of 210,000.
- The Purchasing Managers Manufacturing Index increased to 54.6 from 53.1.
- The Institute for Supply Management Index decreased to 58.7 from 60.08.
- Construction spending increased 0.3% for the month and 2.0% for the year.
In the Dow Jones Industrial Average, the following stocks led gains:
Walt Disney (DIS, Financial) 1.25%
Travelers (TRV, Financial) 0.77%
Wal-Mart (WMT, Financial) 0.72%
Procter & Gamble (PG, Financial) 0.64%
In the broad market, energy and materials led gains. S&P 500 technology stocks gained with an increase of 0.02%.
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,492.77 for a loss of -10.00 points or -0.67%. The S&P 600 closed at 906.42 for a loss of -5.62 points or -0.62%. The Dow Jones Small-Cap Growth TSM Index closed at 9,077.46 for a loss of -55.48 points or -0.61%. The Dow Jones Small-Cap Value TSM Index closed at 10,002.59 for a loss of -29.69 points or -0.30%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,830.10 for a loss of -5.00 points or -0.27%; the S&P 100 Index at 1,140.13 for a gain of 3.30 points or 0.29%; the Russell 3000 Index at 1,527.51 for a gain of 1.02 points or 0.07%; the Russell 1000 Index at 1,429.22 for a gain of 1.82 points or 0.13%; and the Dow Jones U.S. Select Dividend Index at 677.60 for a loss of -1.12 points or -0.17%.
