The Dow Jones Industrial Average closed at 27,781.96 on Thursday with a loss of 1.63 points or -0.01%. The S&P 500 closed at 3,096.63 for a gain of 2.59 points or 0.08%. The Nasdaq Composite closed at 8,479.02 for a loss of 3.08 points or -0.04%. The VIX Volatility Index was higher at 13.01 for a gain of 0.010 points or 0.077%.
Thursday’s market movers
U.S. indexes closed with mixed returns on Thursday. The public impeachment hearings are creating greater uncertainty as new details emerge on the president’s communications with Ukraine. Investors showed concern over progression between the U.S. and China with tariffs and agriculture purchases holding up a new agreement. Tech stocks also faltered after disappointing results Wednesday from Cisco.
On the earnings calendar, Walmart and Nvidia both released results:
- Walmart (WMT, Financial): Revenue of $128 billion increased 2.5% year over year and was in line with guidance. GAAP earnings of $1.15 per share beat estimates by 5 cents and third-quarter non-GAAP earnings per share of $1.16 beat estimates by 7 cents.
- Nvidia (NVDA, Financial): Revenue of $3.01 billion decreased 5.3% year over year and beat estimates by $90 million. GAAP earnings of $1.45 per share beat estimates by 20 cents and third-quarter non-GAAP earnings per share of $1.78 beat estimates by 20 cents.
Economic reports affecting market trading included the following:
- The Producer Price Index (PPI) increased 0.4% in October and 1.1% year over year. The Core PPI increased 0.3% in October and 1.6% year over year.
- Jobless claims increased to 225,000 from 211,000.
- The Treasury held auctions for four-week bills at a rate of 1.565% and eight-week bills at a rate of 1.52%.
- Freddie Mac’s weekly mortgage market survey showed mortgage rates increasing. The 30-year fixed-rate mortgage averaged 3.75%, up from 3.69%. The 15-year fixed-rate mortgage averaged 3.2%, up from 3.13%.
In the S&P 500, real estate led gains and energy led losses. In the S&P 100, the following stocks led gains and losses:
- Netflix (NFLX, Financial) 2.32%
- Target (TGT, Financial) 2.26%
- Lowe's (LOW, Financial) 1.66%
- PayPal (PYPL, Financial) 1.55%
- Cisco (CSCO, Financial) -7.37%
- Kraft Heinz (KHC, Financial) -7.13%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,588.79 for a loss of 0.39 points or -0.02%. The S&P 600 closed at 977.88 for a loss of 1.74 points or -0.18%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,129.65 for a gain of 3.16 points or 0.03%. The Dow Jones U.S. Small-Cap Value Index closed at 9,699.30 for a gain of 5.85 points or 0.06%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,991.48 for a gain of 5.02 points or 0.25%; the S&P 100 at 1,378.39 for a loss of 0.45 points or -0.033%; the Nasdaq 100 at 8,257.83 for a loss of 1.98 points or -0.024%; the Russell 3000 at 1,813.45 for a gain of 1.69 points or 0.093%; the Russell 1000 at 1,710.65 for a gain of 1.71 points or 0.10%; the Wilshire 5000 at 31,630.79 for a gain of 27.29 points or 0.086%; and the Dow Jones U.S. Select Dividend Index at 737.71 for a loss of 0.100 points or -0.014%.
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