The Dow Jones Industrial Average closed at 26,452.66 on Tuesday with a gain of 67.89 points or 0.26%. The S&P 500 closed at 2,907.06 for a gain of 1.48 points or 0.05%. The Nasdaq Composite closed at 8,000.23 for a gain of 24.21 points or 0.30%. The VIX Volatility Index was lower at 12.25 for a loss of 0.07 points or -0.57%.
Tuesday’s market movers
U.S. stocks closed higher Tuesday with investors continuing to watch the big banks. Big banks kicked off the beginning of the heaviest part of the first-quarter earnings calendar with JPMorgan (JPM, Financial) and Wells Fargo (WFC, Financial) reporting last Friday and Goldman Sachs (GS, Financial) and Citigroup (C, Financial) reporting Monday. Bank of America (BAC, Financial) reported its earnings on Tuesday, beating earnings per share estimates by 4 cents and missing revenue estimates by $240 million. The bank closed with a gain of 0.13%. Morgan Stanley (MS, Financial) will report earnings on Wednesday.
In the Dow Jones, earnings reports were released from UnitedHealth (UNH, Financial), Johnson & Johnson (JNJ, Financial) and IBM (IBM, Financial). Stocks leading gains for the Dow Jones Tuesday included:
- Boeing (BA, Financial) 1.67%
- Caterpillar (CAT, Financial) 1.27%
- American Express (AXP, Financial) 1.22%
Economic reports affecting market trading included the following:
- Industrial production decreased 0.1% in March and 2.8% year over year.
- Manufacturing production was unchanged in March and increased 1% year over year.
- Capacity utilization decreased to 78.8% in March from 79%.
- The NAHB Housing Market Index increased to 63 in April from 62.
Small-cap stocks
In small caps, the Russell 2000 closed at 1,582.79 for a gain of 3.62 points or 0.23%. The S&P 600 closed at 970.12 for a gain of 4.04 points or 0.42%. The Dow Jones Small-Cap Growth TSM Index closed at 10,052.18 for a gain of 14.16 points or 0.14%. The Dow Jones Small-Cap Value TSM Index closed at 9,774.72 for a gain of 40.37 points or 0.41%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,963.52 for a gain of 1.51 points or 0.08%; the S&P 100 at 1,285.10 for a gain of 3.48 points or 0.27%; the Russell 3000 at 1,714.66 for a gain of 0.80 points or 0.05%; the Russell 1000 at 1,611.34 for a gain of 0.53 points or 0.03%; the Wilshire 5000 at 30,047.66 for a gain of 17.11 points or 0.06%; and the Dow Jones U.S. Select Dividend Index at 718.71 for a gain of 2.75 points or 0.38%.
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