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Julie Young
Julie Young
Articles (1177) 

US Market Indexes Close Lower for a 2nd Day on Wednesday

Dow Jones down 0.87%

May 29, 2019 | About:

The Dow Jones Industrial Average closed at 25,126.41 on Wednesday with a loss of 221.36 points or -0.87%. The S&P 500 closed at 2,783.02 for a loss of -19.37 points or -0.69%. The Nasdaq Composite closed at 7,547.31 for a loss of 60.04 points or -0.79%. The VIX Volatility Index was higher at 17.82 for a gain of 0.32 points or 1.83%.

Wednesday’s market movers

Stocks closed lower for a second day on Wednesday as investors continued selling and showed low appetite for risk. Chinese headlines said the country was considering integration of rare earth metals in its trade negotiations with the U.S. In the U.S., investors were also watching Robert Mueller’s first public statement on the Mueller investigation into Russian interference in the 2016 election.

Economic reports affecting market trading included the following:

  • The MBA Mortgage Applications Index decreased 3.3% and the MBA’s 30-year mortgage rate average was unchanged at 4.33%.
  • The Treasury held an auction for seven-year notes at a rate of 2.144% .
  • The Energy Information Administration’s Weekly Petroleum Status Report showed oil inventories increased to 1,121.6 million barrels from 1,118.0 million barrels.

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

Small-cap stocks

In small caps, the Russell 2000 closed at 1,489.84 for a loss of 14.17 points or -0.94%. The S&P 600 closed at 904.09 for a loss of 7.70 points or -0.84%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,486.41 for a loss of 86.30 points or -0.90%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,205.70 for a loss of 50.69 points or -0.55%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,832.77 for a loss of 11.40 points or -0.62%; the S&P 100 at 1,231.97 for a loss of 9.02 points or -0.73%; the Russell 3000 at 1,638.06 for a loss of 11.69 points or -0.71%; the Russell 1000 at 1,541.07 for a loss of 10.73 points or -0.69%; the Wilshire 5000 at 28,583.25 for a loss of 205.59 points or -0.71%; and the Dow Jones U.S. Select Dividend Index at 676.10 for a loss of 4.29 points or -0.63%.

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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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