US Market Indexes Continue Gains for the New Year
- By Julie Young
U.S. market indexes were higher again on Wednesday with the Dow Jones Industrial Average now within 60 points of 20000. For the day, the Dow Jones Industrial Average closed at 19942.16 for a gain of 60.40 points or 0.30%. The S&P 500 closed at 2270.75 for a gain of 12.92 points or 0.57%. The Nasdaq Composite closed at 5477.00 for a gain of 47.92 points or 0.88%. The VIX Volatility Index was lower for the day at 11.86 for a loss of -0.99 or -7.70%.
Warning! GuruFocus has detected 2 Warning Sign with CAH. Click here to check it out.
The intrinsic value of NKE
Wednesday's market movers
The Federal Reserve's meeting minutes helped stocks to gain on Wednesday with aggressive plans for rate increases signaling positive economic growth. Other economic reports affecting trading for the day included the following:
Auto sales were on track with the consensus of 17.7 million SAAR.
Mortgage applications and refinancings reported by the Mortgage Bankers Association were lower for the week. Mortgage applications were down -12% and refinancings were down -22%.
In the Dow Jones Industrial Average, the following stocks led gains:
Nike (NKE) 2.10%
American Express (AXP) 1.64%
Disney (DIS) 1.28%
IBM (IBM) 1.24%
In the broad market, materials and consumer discretionary led gains. Technology was also higher with the S&P 500 technology sector up 0.35%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1387.95 for a gain of 22.46 points or 1.64%. The S&P 600 Small-Cap Index closed at 857.37 for a gain of 14.01 points or 1.66%. The Dow Jones Small-Cap Growth TSM Index closed at 8155.91 for a gain of 148.54 points or 1.86%. The Dow Jones Small-Cap Value TSM Index closed at 9877.40 for a gain of 141.24 points or 1.45%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1695.83 for a gain of 25.93 points or 1.55%; the S&P 100 Index at 1003.87 for a gain of 3.27 points or 0.33%; the Russell 3000 Index at 1352.98 for a gain of 10.29 points or 0.77%; the Russell 1000 Index at 1260.75 for a gain of 8.65 points or 0.69%; and the Dow Jones U.S. Select Dividend Index at 641.22 for a gain of 3.71 points or 0.58%.
Start a free 7-day trial of Premium Membership to GuruFocus.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 2 Warning Sign with CAH. Click here to check it out.
The intrinsic value of NKE
