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Julie Young
Julie Young
Articles (1176) 

US Market Indexes Continue Losses Ahead of China Trade Announcement

S&P 500 down 1.3% for the week

The Dow Jones Industrial Average closed at 25,828.36 on Thursday with a loss of 138.97 points or -0.54%. The S&P 500 closed at 2,870.72 for a loss of 8.70 points or -0.30%. The Nasdaq Composite closed at 7,910.59 for a loss of 32.73 points or -0.41%. The VIX Volatility Index was lower at 19.17 for a loss of 0.23 points or -1.19%.

Thursday’s market movers

U.S. stocks reported a fourth day of losses ahead of a China trade announcement. Headlines are reporting that the U.S. will impose new tariffs on China beginning at 12:01 a.m. Eastern on Friday if an agreement between the two countries is not reached. For the week, the S&P 500 is now down 1.3%.

Stocks leading losses on Thursday included the following:

Economic reports affecting market trading included the following:

  • Mortgage rates were lower according to Freddie Mac’s weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.10%, decreasing from 4.14%. The 15-year fixed-rate mortgage averaged 3.57%, decreasing from 3.60%.
  • Jobless claims decreased to 228,000 from 230,000.
  • The U.S. trade deficit was reported at -$50 billion in March, increasing from -$49.3 billion.
  • The Producer Price Index increased 0.2% in April and 2.2% year over year.
  • Wholesale inventories decreased 0.1% in March after an increase of 0.4% in February.
  • The Treasury held auctions for four-week bills at a rate of 2.385% and 30-year bonds at a rate of 2.892%.

Small-cap stocks

In small caps, the Russell 2000 closed at 1,570.97 for a loss of 4.01 points or -0.25%. The S&P 600 closed at 962.40 for a loss of 1.23 points or -0.13%. The Dow Jones Small-Cap Growth TSM Index closed at 9,981.00 for a loss of 24.49 points or -0.24%. The Dow Jones Small-Cap Value TSM Index closed at 9,668.16 for a loss of 20.31 points or -0.21%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,929.01 for a loss of 3.13 points or -0.16%; the S&P 100 at 1,271.40 for a loss of 5.00 points or -0.39%; the Russell 3000 at 1,694.47 for a loss of 4.26 points or -0.25%; the Russell 1000 at 1,591.81 for a loss of 4.03 points or -0.25%; the Wilshire 5000 at 29,694.09 for a loss of 85.30 points or -0.29%; and the Dow Jones U.S. Select Dividend Index at 701.54 for a loss of 3.23 points or -0.46%.

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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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