The Dow Jones Industrial Average closed at 25,439.39 on Thursday with a loss of 103.88 points or -0.41%. The S&P 500 closed at 2,745.73 for a loss of 7.30 points or -0.27%. The Nasdaq Composite closed at 7,426.95 for a gain of 6.58 points or 0.09%. The VIX Volatility Index was higher at 16.24 for a gain of 0.59 points or 3.77%.
Thursday’s market movers
Large-cap indexes closed lower Thursday ahead of an anticipated national emergency announcement by the president. President Donald Trump is expected to sign Congress’ spending deal, keeping the government from another shutdown. Simultaneously, the Trump administration has also reported it will declare a national emergency to cover the remaining funds requested for border wall construction. The spending deal includes seven spending bills totaling $333 billion and $1.38 billion for border wall funding. Funding for the national emergency is uncertain.
On Thursday, Treasury yields were mostly lower across the yield curve with the 30-year bond yield decreasing to 2.997%. The U.S. dollar was lower across most all major currencies and the U.S. Dollar Index decreased 0.16% to 97.04.
Economic reports affecting market trading included the following:
- Jobless claims increased to 239,000.
- Retail sales disappointed investors and raised concerns of economic contraction. Retail sales were down 1.2% in December. Year-over-year retail sales increased 2.3%, down from 4.1%.
- The Producer Price Index decreased 0.1% in January and had a year-over-year increase of 2%.
- Business inventories decreased 0.1% in November.
- The Treasury held an auction for four-week bills at a rate of 2.395%.
- Mortgage rates fell to a 12-month low, according to Freddie Mac’s weekly mortgage market report. The 30-year fixed-rate mortgage averaged 4.37%, decreasing from 4.41%. The 15-year fixed-rate mortgage averaged 3.81%, decreasing from 3.84%.
In the Dow Jones Industrial Average, the following stocks led losses:
- Coca-Cola (KO, Financial) -8.34%
- 3M (MMM, Financial) -1.61%
- Goldman Sachs (GS, Financial) -1.11%
- DowDuPont (DWDP, Financial) -0.90%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,545.11 for a gain of 2.16 points or 0.14%. The S&P 600 closed at 961.15 for a gain of 2.05 points or 0.21%. The Dow Jones Small-Cap Growth TSM Index closed at 9,742.26 for a gain of 16.47 points or 0.17%. The Dow Jones Small-Cap Value TSM Index closed at 9,684.40 for a loss of 25.93 points or -0.27%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,891.66 for a loss of 1.62 points or -0.09%; the S&P 100 at 1,204.80 for a loss of 4.00 points or -0.33%; the Russell 3000 at 1,625.48 for a loss of 3.52 points or -0.22%; the Russell 1000 at 1,524.08 for a loss of 3.73 points or -0.24%; the Wilshire 5000 at 28,493.33 for a loss of 55.20 points or -0.19%; and the Dow Jones U.S. Select Dividend Index at 686.88 for a loss of 3.82 points or -0.55%.
