U.S. Markets closed

US Indexes Close Higher Wednesday

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·3 min read
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The Dow Jones Industrial Average closed at 27,005.84 on Wednesday with a gain of 165.44 points or 0.62%. The S&P 500 closed at 3,276.02 for a gain of 18.72 points or 0.57%. The Nasdaq Composite closed at 10,706.13 for a gain of 25.76 points or 0.24%. The VIX Volatility Index was lower at 24.41 for a loss of 0.43 points or -1.73%.

Wednesday's Market Movers


Pfizer and BioNTech received a $1.95 billion order from the U.S. government for the partnership's Covid-19 vaccine. Pfizer led gains for the day, up nearly 5% and contributing to the Dow's return for the day.

In the real estate market, existing home sales were up 20.7% in June, helping the real estate sector to lead gains for the day. Across sectors, utilities and materials were also leading gainers.

On the earnings calendar:

  • Microsoft (NASDAQ:MSFT): Revenue of $38.03 billion increased 12.8% year over year and beat estimates by $1.48 billion. Q4 GAAP EPS of $1.46 beat estimates by $0.09.

  • Tesla (NASDAQ:TSLA): Revenue of $6.04 billion decreased -4.9% year over year and beat estimates by $640 million. Q2 GAAP EPS of $0.50 and non-GAAP EPS of $2.18.



On the economic calendar:

  • The MBA Mortgage Applications Index increased 4.1% following an increase of 5.1%. The MBA's average 30-year mortgage rate increased to 3.20% from 3.19%.

  • The FHFA House Price Index decreased -0.3% in May following an increase of 0.1%.

  • Existing home sales increased 20.7% in June to a seasonally adjusted annual rate of 4.72 million.

  • Crude oil inventory increased by 4.9 million barrels, according to the EIA's Weekly Petroleum Status Report.

  • The Treasury held an auction for 20-year bonds at a rate of 1.059%.



In the S&P 100, the following stocks led gains:

  • Pfizer (NYSE:PFE) 4.69%

  • Lockheed Martin (NYSE:LMT) 4.57%

  • McDonald's (NYSE:MCD) 2.74%

  • Coca-Cola (NYSE:KO) 2.69%

  • Ford (NYSE:F) 2.54%

  • General Dynamics (NYSE:GD) 2.52%

  • Target (NYSE:TGT) 2.45%

  • Lowe's (NYSE:LOW) 2.45%

  • Starbucks (NASDAQ:SBUX) 2.39%



Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,490.14 for a gain of 2.63 points or 0.18%. The S&P 600 closed at 860.64 for a gain of 1.26 points or 0.15%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,435.61 for a gain of 45.27 points or 0.44%. The Dow Jones U.S. Small-Cap Value Index closed at 7,045.03 for a gain of 13.89 points or 0.20%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,862.40 for a gain of 14.03 points or 0.76%; the S&P 100 at 1,509.43 for a gain of 6.47 points or 0.43%; the Nasdaq 100 at 10,870.75 for a gain of 37.68 points or 0.35%; the Russell 3000 at 1,913.32 for a gain of 10.82 points or 0.57%; the Russell 1000 at 1,818.73 for a gain of 10.71 points or 0.59%; the Wilshire 5000 at 33,421.40 for a gain of 187.40 points or 0.56%; and the Dow Jones U.S. Select Dividend Index at 599.95 for a gain of 4.06 points or 0.68%.

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This article first appeared on GuruFocus.