The Dow Jones Industrial Average closed at 25,119.89 on Tuesday with a gain of 55.53 points or 0.22%. The S&P 500 closed at 2,809.55 for a gain of 11.12 points or 0.40%. The Nasdaq Composite closed at 7,855.12 for a gain of 49.40 points or 0.63%. The VIX Volatility Index was lower at 12.05 for a loss of -0.78 points or -6.08%.
Tuesday’s market movers
U.S. market indexes gained Tuesday with the Nasdaq Composite closing at a new record high. The materials, consumer staples and technology sectors led gains. Investor confidence in the economy’s continued growth and transparency around additional federal funds rate increases fueled stock gains following comments from Fed Chairman Jerome Powell before the Senate.
Positive corporate earnings reports also helped stocks to rally on Tuesday. Notable companies releasing earnings included Goldman Sachs (GS, Financial), Johnson & Johnson (JNJ, Financial), UnitedHealth Group (UNH, Financial) and Netflix (NFLX, Financial).
Economic reports affecting market trading included the following:
- Industrial production reported a 0.6% monthly increase.
- The National Association of Home Builders’ Housing Market Index was unchanged at 68.
- The Treasury held auctions at the following rates: four-week bills 1.880%, 52-week bills 2.335%.
- The Treasury International Capital report showed foreign demand for long-term U.S. securities at $93.9 billion.
In the Dow Jones Industrial Average, the following stocks led gains:
- Johnson & Johnson (JNJ, Financial) 3.56%
- Microsoft (MSFT, Financial) 1.42%
- United Technologies (UTX, Financial) 1.40%
- Coca-Cola (KO, Financial) 1.31%
- Home Depot (HD, Financial) 1.11%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,687.26 for a gain of 8.72 points or 0.52%. The S&P 600 closed at 1,047.63 for a gain of 6.53 points or 0.63%. The Dow Jones Small-Cap Growth TSM Index closed at 10,496.03 for a gain of 82.89 points or 0.80%. The Dow Jones Small-Cap Value TSM Index closed at 10,465.87 for a gain of 19.14 points or 0.18%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,994.74 for a gain of 9.37 points or 0.47%; the S&P 100 at 1,240.90 for a gain of 4.29 points or 0.35%; the Russell 3000 at 1,671.53 for a gain of 7.17 points or 0.43%; the Russell 1000 at 1,559.66 for a gain of 6.58 points or 0.42%; and the Dow Jones U.S. Select Dividend Index at 706.23 for a gain of 0.90 points or 0.13%.
