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US Indexes Close Lower Thursday

GuruFocus.com
·3 min read

- By Julie Young

The Dow Jones Industrial Average closed at 30,991.52 on Thursday with a loss of 68.95 points or -0.22%. The S&P 500 closed at 3,795.54 for a loss of 14.30 points or -0.38%. The Nasdaq Composite closed at 13,112.64 for a loss of 16.31 points or -0.12%. The VIX Volatility Index was higher at 23.28 for a gain of 1.07 points or 4.82%.

Thursday's market movers


The major U.S. indexes ended with losses on Thursday. Joe Biden is scheduled to discuss his detailed plans for more Covid-19 stimulus on Thursday evening. Reports suggest that the plan will include $1,400 more in direct payments as well as some substantial vaccine funding. Biden's deal is valued at around $2 trillion.

Investors were also looking ahead to several big bank earnings reports tomorrow. JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) will release their earnings before the long weekend. Stock markets will be closed on Monday for Martin Luther King Jr. Day.

In other news:

  • Export and import price data was released. Export prices increased 1.1% in December and 0.2% year over year. Import prices increased 0.9% in December and decreased 0.3% year over year.

  • 965,000 Americans filed for jobless claims, up from the previous week's 784,000. Continuing jobless claims were 5.271 million, up from the previous week's 5.072 million.

  • The Treasury held auctions for four-week bills at a rate of 0.075% and eight-week bills at a rate of 0.080%.

  • Freddie Mac released its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 2.79%, up from 2.65%. The 15-year fixed-rate mortgage averaged 2.23%, up from 2.16 %.

  • Comments from Fed Chair Jerome Powell suggested asset purchases would continue to be important and inflation rates were not likely to spike.



Across the board:

  • PayPal (NASDAQ:PYPL) took over full ownership of Chinese online payments platform GoPay. PayPal's stock was down 1.16%.

  • Google (NASDAQ:GOOG)(NASDAQ:GOOGL) was down around 1% with an announcement of its acquisition of Fitbit.

  • GameStop (NYSE:GME) +27.10%

  • Lexicon Pharmaceuticals (NASDAQ:LXRX) +105.36%

  • Global X Cannabis ETF (NASDAQ:POTX) +10.80%



Small-cap stocks

In small caps, the Russell 2000 closed at 2,155.35 for a gain of 43.38 points or 2.05%. The S&P 600 closed at 1,232.70 for a gain of 27.54 points or 2.29%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,990.30 for a gain of 288.10 points or 1.96%. The Dow Jones U.S. Small-Cap Value Index closed at 9,781.70 for a gain of 153.88 points or 1.60%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,448.38 for a gain of 22.30 points or 0.92%; the S&P 100 at 1,729.74 for a loss of 9.93 points or -0.57%; the Nasdaq 100 at 12,898.69 for a loss of 74.94 points or -0.58%; the Russell 3000 at 2,292.02 for a loss of 3.13 points or -0.14%; the Russell 1000 at 2,151.42 for a loss of 6.38 points or -0.30%; the Wilshire 5000 at 39,955.08 for a loss of 66.43 points or -0.17%; and the Dow Jones U.S. Select Dividend Index at 728.85 for a gain of 7.94 points or 1.10%.

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This article first appeared on GuruFocus.