The Dow Jones Industrial Average closed at 25,199.29 on Wednesday with a gain of 79.40 points or 0.32%. The S&P 500 closed at 2,815.62 for a gain of 6.07 points or 0.22%. The Nasdaq Composite closed at 7,854.44 for a loss of -0.67 points or -0.01%. The VIX Volatility Index was lower at 12.05 for a loss of -0.01 points or -0.08%.
Wednesday’s market movers
U.S. market indexes were mostly higher Wednesday while the Nasdaq Composite retreated following Tuesday’s record high. Investors continued to remain generally optimistic on the economy following the Federal Reserve’s Beige Book and a second day of comments from Fed Chairman Jerome Powell. Positive second-quarter earnings also contributed to the gains. Technology stocks were lower across the market with the Nasdaq ending down -0.01% and the S&P 500 technology sector reporting a loss of -0.16%.
Economic reports affecting market trading included the following:
- The Mortgage Bankers Association’s mortgage applications index decreased -2.5% for the week.
- Housing starts decreased to a seasonally adjusted annual rate of 1.173 million.
- The EIA Petroleum Status report showed an increase of 5.8 million barrels in oil inventory for the week.
- The Fed released its Beige Book, which showed the economy’s rating slipping to modest-to-moderate after an upgrade in May.
In the Dow Jones Industrial Average, the following stocks led gains:
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,691.87 for a gain of 4.61 points or 0.27%. The S&P 600 closed at 1,052.13 for a gain of 4.50 points or 0.43%. The Dow Jones Small-Cap Growth TSM Index closed at 10,526.73 for a gain of 30.70 points or 0.29%. The Dow Jones Small-Cap Value TSM Index closed at 10,503.17 for a gain of 37.30 points or 0.36%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,001.25 for a gain of 6.51 points or 0.33%; the S&P 100 at 1,242.60 for a gain of 1.70 points or 0.14%; the Russell 3000 at 1,675.46 for a gain of 3.93 points or 0.24%; the Russell 1000 at 1,563.28 for a gain of 3.62 points or 0.23%; and the Dow Jones U.S. Select Dividend Index at 705.90 for a loss of -0.33 points or -0.05%.
