U.S. market indexes were lower Thursday. The Dow Jones Industrial Average closed at 24,811.76 for a loss of -75.05 points or -0.30%. The S&P 500 closed at 2,727.76 for a loss of -5.53 points or -0.20%. The Nasdaq Composite closed at 7,424.43 for a loss of -1.53 points or -0.02%. The VIX Volatility Index was lower at 12.53 for a loss of -0.05 points or -0.40%.
Thursday’s market movers
Retail stocks were lower Thursday, contributing to broad market losses. Gap (GPS, Financial) traded lower after missing revenue and earnings estimates. Best Buy (BBY, Financial) was also lower Thursday despite beating expectations with store closings contributing to some of the losses.
Energy and financial stocks led losses overall. Oil was also a factor, decreasing to $70.70 with continued geopolitical tensions and a canceled meeting with North Korea.
Economic reports affecting market trading included the following:
- Jobless claims increased 11,000 to 234,000.
- The FHFA House Price Index was up 0.1% for the month and 6.7% for the year.
- Existing home sales decreased to a seasonally adjusted annual rate of 5.460 million.
- The Fed reported balance sheet assets of $4.337 trillion, a decrease of -$0.3 billion from the previous week
- Mortgage rates were higher according to Freddie Mac’s weekly mortgage rate survey. The 30-year fixed-rate mortgage averaged 4.66%, increasing from 4.61%. The 15-year fixed-rate mortgage averaged 4.15% for the week, increasing from 4.08%.
In the Dow Jones Industrial Average, the following stocks led losses
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,628.22 for a gain of 0.61 points or 0.04%. The S&P 600 closed at 1,005.10 for a gain of 0.43 points or 0.04%. The Dow Jones Small-Cap Growth TSM Index closed at 10,078.58 for a loss of -0.78 points or -0.01%. The Dow Jones Small-Cap Value TSM Index closed at 10,325.62 for a gain of 0.52 points or 0.01%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,951.55 for a gain of 1.02 points or 0.05%; the S&P 100 at 1,197.68 for a loss of -3.78 points or -0.31%; the Russell 3000 at 1,621.37 for a loss of -2.63 points or -0.16%; the Russell 1000 at 1,513.57 for a loss of -2.71 points or -0.18%; and the Dow Jones U.S. Select Dividend Index at 698.90 for a gain of 1.12 points or 0.16%.
