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US Indexes Close Higher Tuesday, Best Buy Rises 10%

The Dow Jones Industrial Average closed at 28,121.68 on Tuesday with a gain of 55.21 points or 0.20%. The S&P 500 closed at 3,140.52 for a gain of 6.88 points or 0.22%. The Nasdaq Composite closed at 8,647.93 for a gain of 15.44 points or 0.18%. The VIX Volatility Index was lower at 11.70 for a loss of 0.17 points or -1.43%.

Tuesday's market movers

U.S. indexes posted another day of new closing highs Tuesday with all major indexes reporting gains. Investors continued to be optimistic on China trade. Best Buy (NYSE:BBY) also reported earnings in the last of the announcements for retail companies, bringing an end to the third-quarter earnings season reports.

Best Buy's results included the following:

  • Third-quarter revenue of $9.76 billion increased 1.8% year over year and beat estimates by $50 million
  • GAAP earnings of $1.10 per share beat estimates by 7 cents.
  • Non-GAAP earnings of $1.13 per share beat estimates by 10 cents.
  • Stock gained 9.86%.

Economic reports affecting market trading included the following:

  • The goods trade balance was -$66.53 billion in October.
  • Wholesale inventories increased 0.2% in October following a decrease of 0.7%.
  • The S&P/Case-Shiller Home Price Index increased 0.1% in September and 2.1% year over year.
  • The FHFA House Price Index increased 0.6% in September following an increase of 0.2%.
  • New home sales decreased 0.7% in October following an increase of 4.5%. The seasonally adjusted annual rate of new home sales in October was 0.733 million.
  • The Conference Board's Consumer Confidence Index decreased to 125.5 in November from 126.1.
  • The Treasury held an auction for five-year notes at a rate of 1.587%

In the S&P 500, consumer staples and consumer discretionary led gains. In the Dow Jones Industrial Average, the following stocks led gains:

  • Merck (NYSE:MRK) 1.90%
  • Procter & Gamble (NYSE:PG) 1.42%
  • Coca-Cola (NYSE:KO) 1.28%
  • Disney (NYSE:DIS) 1.27%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,624.23 for a gain of 2.33 points or 0.14%. The S&P 600 closed at 995.57 for a loss of 0.29 points or -0.029%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,390.95 for a gain of 21.54 points or 0.21%. The Dow Jones U.S. Small-Cap Value Index closed at 9,726.95 for a loss of 2.44 points or -0.03%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,018.02 for a gain of 8.32 points or 0.41%; the S&P 100 at 1,397.76 for a gain of 2.76 points or 0.20%; the Nasdaq 100 at 8,385.74 for a gain of 13.82 points or 0.17%; the Russell 3000 at 1,842.18 for a gain of 4.27 points or 0.23%; the Russell 1000 at 1,737.00 for a gain of 4.13 points or 0.24%; the Wilshire 5000 at 32,119.64 for a gain of 73.85 points or 0.23%; and the Dow Jones U.S. Select Dividend Index at 738.26 for a loss of 0.72 points or -0.097%.

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This article first appeared on GuruFocus.