The Dow Jones Industrial Average closed at 26,548.22 on Tuesday with a loss of 179.32 points or -0.67%. The S&P 500 closed at 2,917.38 for a loss of 27.97 points or -0.95%. The Nasdaq Composite closed at 7,884.72 for a loss of 120.98 points or -1.51%. The VIX Volatility Index was higher at 16.35 for a gain of 1.09 points or 7.14%.
Tuesday’s market movers
U.S. indexes closed lower Tuesday as investors watched affects from new Iran sanctions and awaited the outcome of trade talks between the U.S. and China beginning on Friday. Investors will also be watching comments from Federal Reserve officials leading up to the July Fed policy meeting as interest rate changes will be an influencing factor in risk appetite through the remainder of the year. In the S&P 500, technology and health care stocks led losses for the day after President Trump signed an executive order requiring new disclosures for hospital costs.
Demand for Treasuries increased with the market’s uncertainty. Yields decreased across the longer end of the yield curve, with the 30-year bond’s price increasing 25/32 to a yield of 2.531%.
Economic reports affecting market trading included the following:
- The S&P/Case-Shiller Home Price Index increased 0.8% in April and 2.5% year over year.
- The FHFA House Price Index increased 0.4% in April.
- The Conference Board’s Consumer Confidence Index decreased to 121.5 from 131.3.
- New home sales decreased 7.8% in May to a seasonally adjusted annual rate of 0.626 million.
- The Treasury held auctions for two-year notes at a rate of 1.695%.
In the Dow Jones Industrial Average, the following stocks led losses:
- Microsoft (MSFT, Financial) -3.45%
- Nike (NKE, Financial) -2.38%
- Cisco (CSCO, Financial) -1.74%
- Visa (V, Financial) -1.66%
- Intel (INTC, Financial) -1.40%
- Apple (AAPL, Financial) -1.37%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,520.62 for a loss of 9.46 points or -0.62%. The S&P 600 closed at 922.19 for a loss of 4.40 points or -0.47%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,724.86 for a loss of 76.11 points or -0.78%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,373.64 for a loss of 17.70 points or -0.19%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,901.33 for a loss of 11.32 points or -0.59%; the S&P 100 at 1,288.61 for a loss of 14.21 points or -1.09%; the Russell 3000 at 1,712.11 for a loss of 15.97 points or -0.92%; the Russell 1000 at 1,613.54 for a loss of 15.45 points or -0.95%; the Wilshire 5000 at 29,852.93 for a loss of 281.80 points or -0.94%; and the Dow Jones U.S. Select Dividend Index at 704.34 for a loss of 3.32 points or -0.47%.
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