U.S. market indexes were mostly lower Wednesday. The Dow Jones Industrial Average closed at 23,924.98 for a loss of -174.07 points or -0.72%. The S&P 500 closed at 2,635.67 for a loss of -19.13 points or -0.72%. The Nasdaq Composite closed at 7,100.90 for a loss of -29.81 points or -0.42%. The VIX Volatility Index was higher at 15.97 for a gain of 0.48 points or 3.10%.
Wednesday’s Market Movers
The Federal Open Market Committee gave an update and reported that it would keep interest rates unchanged at 1.50% to 1.75% after finishing its May meeting on Wednesday. U.S. market indexes closed lower following the announcement with the consumer staples and health care sectors leading losses.
Economic reports affecting market trading included the following:
- The Mortgage Bankers Association’s mortgage applications index decreased by -2.5%.
- The ADP Employment report showed an increase of 204,000 jobs in the private sector.
- The EIA petroleum status report showed an increase of 6.2 million barrels of oil inventory for the week.
In the Dow Jones Industrial Average, the following stocks led losses:
Verizon (VZ, Financial) -2.19%
Cisco (CSCO, Financial) -2.16%
Travelers (TRV, Financial) -2.11%
Johnson & Johnson (JNJ, Financial) -1.99%
Intel (INTC, Financial) -1.91%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,554.92 for a gain of 4.57 points or 0.29%. The S&P 600 closed at 953.41 for a gain of 1.53 points or 0.16%. The Dow Jones Small-Cap Growth TSM Index closed at 9,600.82 for a gain of 19.87 points or 0.21%. The Dow Jones Small-Cap Value TSM Index closed at 9,924.84 for a loss of -3.74 points or -0.04%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,875.83 for a loss of -3.74 points or -0.20%; the S&P 100 at 1,156.64 for a loss of -7.76 points or -0.67%; the Russell 3000 at 1,564.57 for a loss of -9.61 points or -0.61%; the Russell 1000 at 1,461.84 for a loss of -10.10 points or -0.69%; and the Dow Jones US Select Dividend Index at 684.48 for a loss of -1.80 points or -0.26%.
