The Dow Jones Industrial Average closed at 27,140.98 on Thursday with a loss of 128.99 points or -0.47%. The S&P 500 closed at 3,003.67 for a loss of 15.89 points or -0.53%. The Nasdaq Composite closed at 8,238.54 for a loss of 82.96 points or -1.00%. The VIX Volatility Index was higher at 12.79, gaining 0.72 points or 5.97%.
Thursday’s market movers
U.S. indexes pared some gains after a three-day earnings-fueled rally to start the week. The Dow Jones continued to fall after a big earnings miss from Caterpillar (CAT, Financial). In the S&P 500, energy, materials and technology led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- Dow (DOW, Financial) -3.75%
- Boeing (BA, Financial) -3.75%
- Intel (INTC, Financial) -1.38%
- Coca-Cola (KO, Financial) -1.26%
Earnings headlines Thursday included the following:
- Tesla Inc. (TSLA, Financial): Results released Wednesday after the closing bell. Revenue missed estimates. GAAP earnings per share missed estimates by 68 cents.
- Dow Inc. (DOW, Financial): Missed revenue estimates. Earnings beat by 2 cents.
- 3M Co. (MMM, Financial): Beat revenue estimates. Earnings beat by 3 cents.
- LendingTree Inc. (TREE, Financial): Beat revenue estimates. Earnings missed estimates by 22 cents.
- Amazon.com Inc. (AMZN, Financial): After market closed on Thursday. Beat on revenue. Earnings missed by 36 cents.
- Alphabet Inc. (GOOGL, Financial) (GOOG, Financial): After the market closed on Thursday. Beat revenue estimates. Earnings beat by $2.75.
- Intel Corp. (INTC, Financial): After market close on Thursday. Beat revenue estimates. Earnings beat by 22 cents.
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 3.75%, decreasing from 3.81%. The 15-year fixed-rate mortgage averaged 3.18%, decreasing from 3.23%.
- Durable goods orders increased 2% in June following a 2.3% decrease. Durable goods orders, excluding transportation, increased 1.2% in June following an increase of 0.5%. Durable goods orders, excluding defense, increased 3.1% in June following a decrease of 1.2%. Durable goods inventories increased 0.3% in June following an increase of 0.5%.
- Jobless claims decreased to 206,000 from 216,000.
- The goods trade balance showed a deficit of $74.17 billion in June following a deficit of $75.05 billion.
- The Treasury held auctions for four-week bills at a rate of 2.110%, eight-week bills at a rate of 2.140% and seven-year notes at a rate of 1.967%.
Small-cap stocks
In small caps, the Russell 2000 closed at 1,561.44 for a loss of 18.98 points or -1.20 %. The S&P 600 closed at 953.10 for a loss of 9.74 points or -1.01%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,124.00 for a loss of 105.74 points or -1.03%. The Dow Jones U.S. Small-Cap Value Index closed at 9,571.64 for a loss of -79.79 points or -0.83%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,964.87 for a loss of 18.93 points or -0.95%; the S&P 100 at 1,328.08 for a loss of 6.41 points or -0.48%; the Nasdaq 100 at 7,929.87 for a loss of 80.74 points or -1.01%; the Russell 3000 at 1,765.60 for a loss of 10.82 points or -0.61%; the Russell 1000 at 1,664.44 for a loss of 9.49 points or -0.57%; the Wilshire 5000 at 30,792.72 for a loss of 185.61 points or -0.60%; and the Dow Jones U.S. Select Dividend Index at 720.72 for a loss of 3.63 points or -0.50%.
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