U.S. market indexes were mostly lower Thursday. The Dow Jones Industrial Average closed at 26,186.71 for a gain of 37.32 points or 0.14%. The S&P 500 Index closed at 2,821.98 for a loss of -1.83 points or -0.06%. The Nasdaq Composite closed at 7,385.86 for a loss of -25.62 points or -0.35%. The VIX Volatility Index was lower at 13.35 for a loss of -0.19 points or -1.40%.
Thursday’s market movers
Indexes reported potential record losses for the week. Investors await the January jobs report, which will be released on Friday. Treasury yields also moved higher with the 10-year Treasury yield increasing to 3% after signs that the Fed will raise its federal fund rate in March.
Economic reports affecting market trading included the following:
- Preliminary January motor vehicle sales were reported at $16.8 million, down from $17.8 million in December.
- Jobless claims decreased by 1,000 to 230,000.
- Productivity and costs reported a seasonally adjusted annual growth rate of -0.1% for the fourth quarter.
- The PMI Manufacturing Index increased to 55.5 from 55.1.
- The ISM Manufacturing Index decreased to 59.1 from 59.3.
- Construction spending increased 0.7% for the month and 2.6% for the year.
- Freddie Mac’s weekly mortgage survey showed rates rising. The 30-year fixed-rate mortgage average increased to 4.22% from 4.15%. The 15-year fixed-rate mortgage average increased to 3.68% from 3.62%.
In the Dow Jones Industrial Average, the following led gains and losses:
Gains
- Exxon (XOM, Financial) 2.05%
- Goldman Sachs (GS, Financial) 1.64%
- Disney (DIS, Financial) 1.64%
- Johnson & Johnson (JNJ, Financial) 1.32%
Losses
- Intel (INTC, Financial) -1.10%
- 3M (MMM, Financial) -1.05%
- Walmart (WMT, Financial) -1.04%
- Microsoft (MSFT, Financial) -1.01%
In the broad market, financial and energy stocks led gains while real estate and utilities led losses.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1,579.85 for a gain of 4.87 points or 0.31%. The S&P 600 Index closed at 963.92 for a gain of 4.53 points or 0.47%. The Dow Jones Small-Cap Growth TSM Index closed at 9,793.60 for a gain of 21.31 points or 0.22%. The Dow Jones Small-Cap Value TSM Index closed at 10,324.35 for a gain of 17.32 points or 0.17%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,957.25 for a gain of 3.28 points or 0.17%; the S&P 100 Index at 1,252.15 for a gain of 0.73 points or 0.06%; the Russell 3000 Index at 1,664.37 for a loss of -0.31 points or -0.02%; the Russell 1000 Index at 1,560.96 for a loss of -0.70 points or -0.04%; and the Dow Jones U.S. Select Dividend Index at 717.47 for a loss of -2.59 points or -0.36%.
