The Dow Jones Industrial Average closed at 27,492.63 on Tuesday with a gain of 30.52 points or 0.11%. The S&P 500 closed at 3,074.62 for a loss of 3.65 points or -0.12%. The Nasdaq Composite closed at 8,434.68 for a gain of 1.48 points or 0.02%. The VIX Volatility Index was higher at 13.08 for a gain of 0.25 points or 1.95%.
Tuesday’s market movers
Indexes continued gains Tuesday with news that U.S. and China trade negotiators were considering repealing some tariffs. The Dow Jones reported another record close.
On the earnings calendar, the following companies topped headlines:
- Peloton Interactive (PTON, Financial): Revenue of $228 million increased 103.4% year over year and beat estimates by $28.65 million. The first-quarter GAAP earnings loss of $1.29 per share missed estimates by 81 cents.
- Carl Icahn (Trades, Portfolio)'s Icahn Enterprises (IEP, Financial) reported revenue of $2.32 billion, decreasing -9.7% year over year and missing estimates by $600 million. The third-quarter GAAP earnings loss of 24 cents per share missed estimates by 68 cents.
- Inmode (INMD, Financial) reported earnings of 42 cents per share, beating estimates by 13 cents. The stock gained 20.43%.
- Viking Therapeutics (VKTX, Financial) reported a loss of 8 cents per share, beating estimates by 5 cents. Stock gained 18.90%.
- Veritiv Corp. (VRTV, Financial) reported earnings of 31 cents per share, missing estimates by 26 cents. Stock gained 16.45%.
Economic reports affecting market trading included the following:
- The Job Openings and Labor Turnover Survey showed job openings decreasing to 7.024 million from 7.301 million.
- The Balance of Trade report showed a deficit of $52.5 billion in September. Exports were $206 billion and imports were $258.4 billion.
- The Markit Composite PMI decreased to 50.9 from 51.
- The Markit Services PMI decreased to 50.6 from 50.9.
- The ISM Non-Manufacturing PMI increased to 54.7 in October from 52.6. Separately, the ISM Non-Manufacturing Employment Index increased to 53.7 from 50.4.
- The ISM Non-Manufacturing Business Activity Index increased to 57.0 from 55.2, the ISM Non-Manufacturing Prices Index decreased to 56.6 from 60.0 and the ISM Non-Manufacturing New Orders Index increased to 55.6 from 53.7.
- The Treasury held an auction for 52-week bills at a rate of 1.565% and three-year notes at a rate of 1.630%.
In the S&P 500, industrials led gains and real estate led losses. In the S&P 100, the following stocks led gains and losses:
- Walgreens Boots Alliance (WBA, Financial) 2.62%
- Boeing (BA, Financial) 2.05%
- Exxon (XOM, Financial) 1.98%
- Occidental Petroleum (OXY, Financial) -5.25%
- Mastercard (MA, Financial) -2.65%
- PayPal (PYPL, Financial) -1.77%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,599.61 for a gain of 2.21 points or 0.14%. The S&P 600 closed at 990.18 for a gain of 1.37 points or 0.14%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,138.54 for a gain of 19.52 points or 0.19%. The Dow Jones U.S. Small-Cap Value Index closed at 9,875.62 for a gain of 15.80 points or 0.16%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,999.33 for a gain of 4.23 points or 0.21%; the S&P 100 at 1,369.11 for a loss of 0.26 points or -0.019%; the Nasdaq 100 at 8,210.18 for a loss of 0.49 points or -0.0059%; the Russell 3000 at 1,801.51 for a loss of 1.93 points or -0.11%; the Russell 1000 at 1,697.81 for a loss of 2.11 points or -0.12%; the Wilshire 5000 at 31,446.07 for a loss of 30.85 points or -0.098%; and the Dow Jones U.S. Select Dividend Index at 742.38 for a gain of 0.29 points or 0.039%.
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