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Julie Young
Julie Young
Articles (1071) 

US Market Indexes Close Flat on Tuesday

Tech stocks lower

January 29, 2019 | About:

The Dow Jones Industrial Average closed at 24,579.96 on Tuesday with a gain of 51.74 points or 0.21%. The S&P 500 closed at 2,640.00 for a loss of 3.85 points or -0.15%. The Nasdaq Composite closed at 7,028.29 for a loss of 57.39 points or -0.81%. The VIX Volatility Index was higher at 19.24 for a gain of 0.37 points or 1.96%.

Tuesday’s market movers

U.S. market indexes closed flat on Tuesday. Investors were watching fourth-quarter earnings reports, which have mostly overshadowed the short-term reopening of the federal government. The S&P 500 technology sector was down 1.01% with tech giant Nvidia (NASDAQ:NVDA) downgrading its outlook. Dow components Verizon, Pfizer and MMM led the day’s earnings headlines. All three companies beat earnings estimates, but only Pfizer and MMM reported gains.

International concerns were a key factor surrounding global conglomerate estimates as many companies are decreasing their sales outlooks in China. Meanwhile, the U.S. Department of Justice reportedly released new criminal charges against China’s Huawei Technologies. The Federal Reserve also began its two-day January monetary policy meeting, which will convene Wednesday, potentially offering new insight on policy and specifically the central bank’s plans for its balance sheet assets.

Economic reports affecting market trading included the following:

  • The S&P/Case-Shiller Home Price Index decreased 0.1% in November with a 4.7% annual increase.
  • The Conference Board’s Consumer Confidence Index decreased to 120.2 in January from 126.6.
  • The Treasury held auctions for 52-week bills and seven-year notes at rates of 2.515% and 2.625%.

In the Dow Jones Industrial Average, the following stocks led losses and gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,471.41 for a loss of 2.12 points or -0.14%. The S&P 600 closed at 917.07 with no change. The Dow Jones Small-Cap Growth TSM Index closed at 9,241.61 for a loss of 12.07 points or -0.13%. The Dow Jones Small-Cap Value TSM Index closed at 9,412.34 for a gain of 2.38 points or 0.03%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,816.00 for a loss of 0.06 points or -0.01%; the S&P 100 at 1,160.65 for a loss of 3.79 points or -0.33%; the Russell 3000 at 1,559.72 for a loss of 2.23 points or -0.14%; the Russell 1000 at 1,463.29 for a loss of 2.09 points or -0.14%; the Wilshire 5000 at 27,336.81 for a loss of 47.31 points or -0.17%; and the Dow Jones U.S. Select Dividend Index at 668.97 for a gain of 2.26 points or 0.34%.

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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