US Indexes Close Lower Thursday
The Dow Jones Industrial Average closed at 26,652.33 on Thursday with a loss of 353.51 points or -1.31%. The S&P 500 closed at 3,235.66 for a loss of 40.36 points or -1.23%. The Nasdaq Composite closed at 10,461.42 for a loss of 244.71 points or -2.29%. The VIX Volatility Index was higher at 26.02 for a gain of 1.70 points or 6.99%.
Thursday's Market Movers
U.S. indexes closed lower Thursday after rallying to start the week. Investors were concerned over a rise in jobless claims.
On the earnings calendar:
Dow Inc. (NYSE:DOW): Revenue of $8.35 billion decreased -24.2% year over year and beat estimates by $400 million. Q2 GAAP EPS of -$0.31 beat estimates by $0.08 and non-GAAP EPS of -$0.26 missed estimates by $0.01.
Travelers (NYSE:TRV): Earned premiums of $6.96 billion decreased -0.3% year over year and missed estimates by $180 million. Q2 GAAP EPS of -$0.16 beat estimates by $0.02 and non-GAAP EPS of -$0.20 was in line with estimates.
AT&T (T): Revenue of $40.95 billion decreased -9.0% year over year and was in line with estimates. Q2 GAAP EPS of $0.17 missed estimates by $0.38 and non-GAAP EPS of $0.83 beat estimates by $0.04.
Twitter (TWTR): Revenue of $683.44 million decreased -18.7% year over year and missed estimates by $24.51 million. Q2 GAAP EPS of -$1.56 missed estimates by $1.41 and non-GAAP EPS of -$0.16 missed estimates by $0.16.
Intel (INTC): Revenue of $19.7 billion increased 19.4% year over year and beat estimates by $1.15 billion. Q2 GAAP EPS of $1.19 beat estimates by $0.15 and non-GAAP EPS of $1.23 beat estimates by $0.12.
On the economic calendar:
1.416 million Americans filed for jobless claims, an increase from the previous week's 1.307 million. Continuing jobless claims were lower at 16.197 million versus 17.304 million in the previous week.
The Conference Board's Leading Economic Indicators Index increased 2% in June following an increase of 3.2%.
The Kansas Fed Manufacturing Index increased to 7 in July from 2.
The Treasury held auctions for four-week bills at a rate of 0.080%, eight-week bills at a rate of 0.100% and 10-year TIPS at a rate of -0.930%.
Mortgage rates were slightly higher according to Freddie Mac's weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.01%, up from 2.98%. The 15-year fixed-rate mortgage averaged 2.54%, up from 2.48%.
Across sectors, technology, biotech and semiconductors led losses. In the S&P 100, the following stocks led losses and gains:
Apple (NASDAQ:AAPL) -4.88%
Microsoft (NASDAQ:MSFT) -4.45%
Amazon (NASDAQ:AMZN) -3.77%
Alphabet (NASDAQ:GOOG) -3.52%
Qualcomm (NASDAQ:QCOM) -3.23%
Facebook (NASDAQ:FB) -3.22%
NVIDIA (NASDAQ:NVDA) -3.16%
Halliburton (NYSE:HAL) 3.35%
Ford (NYSE:F) 1.9%
Capital One (NYSE:COF) 1.87%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,490.21 for a gain of 0.065 points or 0.0044%. The S&P 600 closed at 866.14 for a gain of 5.50 points or 0.64%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,410.65 for a loss of 24.96 points or -0.24%. The Dow Jones U.S. Small-Cap Value Index closed at 7,080.22 for a gain of 35.17 points or 0.50%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,864.65 for a gain of 2.25 points or 0.12%; the S&P 100 at 1,483.69 for a loss of 25.74 points or -1.71%; the Nasdaq 100 at 10,580.59 for a loss of 290.16 points or -2.67%; the Russell 3000 at 1,891.12 for a loss of 22.19 points or -1.16%; the Russell 1000 at 1,796.38 for a loss of 22.36 points or -1.23%; the Wilshire 5000 at 33,024.92 for a loss of 395.91 points or -1.18%; and the Dow Jones US Select Dividend Index at 603.49 for a gain of 3.54 points or 0.59%.
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This article first appeared on GuruFocus.
