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Julie Young
Julie Young
Articles (1117) 

US Market Indexes Close Mostly Lower on Thursday, Tech Stocks Gain

S&P 500 closes at 2,853.58 with a loss of -0.14%

August 09, 2018 | About:

The Dow Jones Industrial Average closed at 25,509.23 on Thursday with a loss of -74.52 points or -0.29%. The S&P 500 closed at 2,853.58 for a loss of -4.12 points or -0.14%. The Nasdaq Composite closed at 7,891.78 for a gain of 3.46 points or 0.04%. The VIX Volatility Index was higher at 11.24 for a gain of 0.39 points or 3.59%

Thursday’s market movers

The Nasdaq Composite reported its eighth day of consecutive gains while large-cap stocks saw resistance. The S&P 500 technology sector reported a gain of 0.04%. Sectors leading losses in the broad market included energy, financials and industrials.

Economic reports affecting market trading included the following:

  • Jobless claims decreased by -6,000 to 213,000.
  • The Producer Price Index reported an increase of 3.3% for the year.
  • Wholesale inventories increased 0.1%.
  • Fed balance sheet assets decreased by -$22 billion to $4.256 trillion.
  • The Treasury held a 30-year bond auction with rates of 3.090%.
  • The Freddie Mac weekly mortgage market survey showed mortgage rates decreasing. The 30-year fixed-rate mortgage average decreased to 4.59% from 4.60%. The 15-year fixed-rate mortgage average decreased to 4.05% 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 1,690.89 for a gain of 4.01 points or 0.24%. The S&P 600 closed at 1,063.10 for a gain of 0.88 points or 0.08%. The Dow Jones Small-Cap Growth TSM Index closed at 10,493.18 for a gain of 38.52 points or 0.37%. The Dow Jones Small-Cap Value TSM Index closed at 10,589.39 for a loss of -17.67 points or -0.17%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,007.83 for a loss of -2.14 points or -0.11%; the S&P 100 at 1,265.06 for a loss of -1.64 points or -0.13%; the Russell 3000 at 1,694.54 for a loss of -1.41 points or -0.08%; the Russell 1000 at 1,582.65 for a loss of -1.73 points or -0.11%; and the Dow Jones U.S. Select Dividend Index at 715.32 for a gain of 1.08 points or 0.15%.

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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