The Dow Jones Industrial Average closed at 26,246.96 on Tuesday with a gain of 184.84 points or 0.71%. The S&P 500 closed at 2,904.31 for a gain of 15.51 points or 0.54%. The Nasdaq Composite closed at 7,956.11 for a gain of 60.32 points or 0.76%. The VIX Volatility Index was lower at 12.98 for a loss of -0.70 points or -5.12%.
Tuesday’s market movers
The Trump administration announced Monday evening that another $200 billion in imported Chinese goods would be taxed beginning Sept. 24. China immediately retaliated Tuesday, announcing additional tariffs on $60 billion of U.S. imports. The trade announcements come ahead of preliminary proposals for trade negotiations between the U.S. and China later in the month. Increased tensions between the two countries could result in rate increases in 2019 and an additional tax on $267 billion worth of imports for China.
Despite the trade announcements, U.S. market indexes closed with gains Tuesday after ending slightly lower on Monday. Sectors reporting the greatest gains included consumer discretionary, industrial, energy and technology. Top contributors included California Resources (CRC, Financial) and Tilray (TLRY, Financial).
Economic reports affecting market trading included the following:
- The National Association of Home Builders’ Housing Market Index was unchanged at 67.
- The Treasury held an auction for four-week bills at a rate of 2.020%.
In the Dow Jones Industrial Average, the following stocks led gains:
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,711.91 for a gain of 8.36 points or 0.49%. The S&P 600 closed at 1,077.96 for a gain of 2.75 points or 0.26%. The Dow Jones Small-Cap Growth TSM Index closed at 10,721.71 for a gain of 63.70 points or 0.60%. The Dow Jones Small-Cap Value TSM Index closed at 10,571.35 for a loss of -0.51 points or -0.01%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,037.03 for a gain of 8.54 points or 0.42%; the S&P 100 at 1,284.92 for a gain of 7.35 points or 0.58%; the Russell 3000 at 1,724.00 for a gain of 9.02 points or 0.53%; the Russell 1000 at 1,610.81 for a gain of 8.48 points or 0.53%; the Wilshire 5000 at 30,226.39 for a gain of 157.67 points or 0.52%; and the Dow Jones U.S. Select Dividend Index at 726.57 for a gain of 0.83 points or 0.11%.
