The Dow Jones Industrial Average closed at 24,874.64 on Tuesday with a gain of 431.72 points or 1.77%. The S&P 500 closed at 2,682.63 for a gain of 41.38 points or 1.57%. The Nasdaq Composite closed at 7,161.65 for a gain of 111.36 points or 1.58%. The VIX Volatility Index was lower at 23.35 for a loss of -1.35 points or -5.47%.
Tuesday’s market movers
U.S. market indexes rallied on Tuesday following a strong downside reversal on Monday after rumors of imposing the threatened $267 billion tariffs on Chinese goods was discussed by Bloomberg. In a Fox News interview after hours Monday, the president calmed some of investors’ fears with comments stating the potential for a great deal.
Earnings also contributed to Tuesday’s gains. Pioneer Energy (PES, Financial) gained 32.59% after beating earnings estimates by 7 cents. Coca-Cola (KO, Financial) also gained 2.56% after a 3 cent earnings beat.
Economic reports affecting market trading included the following:
- The S&P/Case-Shiller Home Price Index reported a 5.5% annual increase in August.
- The Conference Board’s Consumer Confidence Index increased to 137.9 from 136.0.
- The Treasury held a four-week bill auction at a rate of 2.165%.
In the Dow Jones Industrial Average, the following stocks led gains:
- Intel (INTC, Financial) 5.59%
- Boeing (BA, Financial) 4.27%
- Nike (NKE, Financial) 3.21%
- Caterpillar (CAT, Financial) 3.05%
- McDonald's (MCD, Financial) 3.04%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,506.64 for a gain of 29.33 points or 1.99%. The S&P 600 closed at 950.90 for a gain of 20.81 points or 2.24%. The Dow Jones Small-Cap Growth TSM Index closed at 9,345.38 for a gain of 187.15 points or 2.04%. The Dow Jones Small-Cap Value TSM Index closed at 9,522.96 for a gain of 140.28 points or 1.50%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,819.53 for a gain of 30.94 points or 1.73%; the S&P 100 at 1,193.70 for a gain of 16.01 points or 1.36%; the Russell 3000 at 1,580.74 for a gain of 25.04 points or 1.61%; the Russell 1000 at 1481.86 for a gain of 23.05 points or 1.58%; the Wilshire 5000 at 27,669.64 for a gain of 441.57 points or 1.62%; and the Dow Jones U.S. Select Dividend Index at 687.24 for a gain of 8.96 points or 1.32%.
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