The Dow Jones Industrial Average closed at 25,080.50 on Wednesday with a loss of 205.99 points or -0.81%. The S&P 500 closed at 2,701.58 for a loss of 20.60 points or -0.76%. The Nasdaq Composite closed at 7136.39 for a loss of 64.48 points or -0.90%. The VIX Volatility Index was higher at 21.09 for a gain of 1.07 points or 5.34%.
Wednesday’s market movers
Large-cap indexes continued to decline, closing lower for a fifth consecutive day. The Consumer Price Index was a significant contributor to the day’s losses, reporting the highest monthly increase in nine months at 0.3% and pushing the annual inflation rate to 2.5%. Oil prices halted their 12-day drop with WTI crude gaining 43 cents to $56.12, but investors are still watching developments on production levels from OPEC, which meets in December.
Risk-off trading continues to be a top factor for equities, although Treasury yields have fallen slightly in November. The yield on the 10-year Treasury was approximately 3.13% Wednesday and the one-year yield was approximately 2.79%. Meanwhile, the S&P 500 is now down 6.5% from its September peak.
Economic reports affecting market trading included the following:
- The Consumer Price Index increased 0.3% in October and reported a 12-month increase of 2.5%.
- The Mortgage Bankers Association’s mortgage applications index was down 3.2% for the week.
In the Dow Jones Industrial Average, the following stocks led losses:
- Travelers (TRV, Financial) -2.71%
- Apple (AAPL, Financial) -2.56%
- JPMorgan (JPM, Financial) -1.78%
- Walmart (WMT, Financial) -1.34%
- Microsoft (MSFT, Financial) -1.31%
Small-cap stocks
In small-caps, the Russell 2000 closed at 1,502.51 for a loss of 12.30 points or -0.81%. The S&P 600 closed at 946.15 for a loss of 7.19 points or -0.75%. The Dow Jones Small-Cap Growth TSM Index closed at 9,335.72 for a loss of 65.99 points or -0.70%. The Dow Jones Small-Cap Value TSM Index closed at 9,592.64 for a loss of 83.77 points or -0.87%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,841.62 for a loss of 10.83 points or -0.58%; the S&P 100 at 1,199.77 for a loss of 9.38 points or -0.78%; the Russell 3000 at 1,590.60 for a loss of 12.30 points or -0.77%; the Russell 1000 at 1,492.16 for a loss of 11.48 points or -0.76%; the Wilshire 5000 at 27,853.78 for a loss of 207.41 points or -0.74%; and the Dow Jones U.S. Select Dividend Index at 689.20 for a loss of 5.33 points or -0.77%.
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