The Dow Jones Industrial Average closed at 26,143.05 on Thursday with a loss of 14.11 points or -0.05%. The S&P 500 closed at 2,888.32 for a gain of 0.11 points or 0.01%. The Nasdaq Composite closed at 7,947.36 for a loss of 16.88 points or -0.21%. The VIX Volatility Index was lower at 13.11 for a loss of 0.19 points or -1.43%.
Thursday’s market movers
U.S. market indexes closed lower Thursday. Ongoing trade negotiations with China and now Europe have investors uncertain over final deal agreements. In Europe, leaders also agreed to allow more time for the U.K.'s exit with an extension until Oct. 31. Meanwhile, wavering global economic data overall along with negative corporate earnings estimates reduced risk appetite Thursday. JPMorgan (JPM, Financial) and Wells Fargo (WFC, Financial) will report earnings on Friday, giving some insight into the first quarter's direction. Analysts, however, are already projecting corporate earnings for the S&P 500 collectively to be down -4.2% year over year.
Economic reports affecting market trading included the following:
- Jobless claims decreased to 196,000 from 204,000.
- The Producer Price Index increased 0.6% in March and 2.2% annually.
- The Core Producer Price Index (excluding food and energy) increased 0.3% in March and 2.4% annually.
- The Treasury held auctions for four-week bills at a rate of 2.375% and 30-year bonds at a rate of 2.930%.
- Mortgage rates were slightly higher according to Freddie Mac's weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.12%, increasing from 4.08%. The 15-year fixed-rate mortgage averaged 3.60%, increasing from 3.56%.
In the Dow Jones Industrial Average, the following stocks led losses:
- UnitedHealth (UNH, Financial) -4.38%
- Walgreens Boots Alliance (WBA, Financial) -1.96%
- Pfizer (PFE, Financial) -1.10%
- Merck (MRK, Financial) -1.12%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,578.06 for a loss of 3.49 points or -0.22%. The S&P 600 closed at 965.44 for a loss of 2.00 points or -0.21%. The Dow Jones Small-Cap Growth TSM Index closed at 10,020.15 for a loss of 8.20 points or -0.08%. The Dow Jones Small-Cap Value TSM Index closed at 9,715.35 for a gain of 14.41 points or 0.15%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,949.34 for a gain of 3.90 points or 0.20%; the S&P 100 at 1,272.23 for a loss of 1.56 points or -0.12%; the Russell 3000 at 1,703.28 for a loss of 0.99 points or -0.06%; the Russell 1000 at 1,600.20 for a loss of 0.73 points or -0.05%; the Wilshire 5000 at 29,866.26 for a gain of 5.49 points or 0.02%; and the Dow Jones U.S. Select Dividend Index at 714.67 for a gain of 2.22 points or 0.31%.
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