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Julie Young
Julie Young
Articles (1052) 

US Market Indexes Mostly Higher Wednesday

S&P 500 closes at 2,722.46 with a gain of 0.41%

May 16, 2018 | About:

U.S. market indexes were higher on Wednesday. The Dow Jones Industrial Average closed at 24,768.93 for a gain of 62.52 points or 0.25%. The S&P 500 closed at 2,722.46 for a gain of 11.01 points or 0.41%. The Nasdaq Composite closed at 7,398.30 for a gain of 46.67 points or 0.63%. The VIX Volatility Index was lower at 13.49 for a loss of -1.14 points or -7.79%.

Wednesday’s market movers

The small-cap Russell 2000 Index reached a new high on Wednesday as stocks gained. Retailers helped to push stocks higher with Macy’s reporting a 10.83% gain after strong earnings. Sectors leading gains on Wednesday included materials and consumer discretionary.

Economic reports affecting market trading included the following:

  • The Mortgage Bankers Association’s mortgage applications index decreased -2.7%.
  • Housing starts decreased to a seasonally adjusted annual rate of 1.287 million.
  • Industrial production reported a monthly increase of 0.7%.
  • The EIA Petroleum Status report showed a decrease of -1.4 million barrels in oil inventory for the week.

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

Nike (NYSE:NKE) 2.53%

General Electric (NYSE:GE) 2.07%

Disney (NYSE:DIS) 2.01%

Small-cap stocks

In small-caps, the Russell 2000 closed at 1,616.37 for a gain of 16.03 points or 1.00%. The S&P 600 closed at 994.09 for a gain of 11.66 points or 1.19%. The Dow Jones Small-Cap Growth TSM closed at 10,037.46 for a gain of 96.17 points or 0.97%. The Dow Jones Small-Cap Value TSM closed at 10,245.08 for a gain of 82.61 points or 0.81%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,943.81 for a gain of 13.14 points or 0.68%; the S&P 100 at 1,197.26 for a gain of 4.45 points or 0.37%; the Russell 3000 at 1,617.03 for a gain of 7.39 points or 0.46%; the Russell 1000 at 1,510.12 for a gain of 6.21 points or 0.41%; and the Dow Jones U.S. Select Dividend Index at 694.94 for a gain of 2.48 points or 0.36%.

About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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