U.S. Markets closed

US Indexes Close Lower Thursday

The Dow Jones Industrial Average closed at 26,891.12 on Thursday with a loss of 79.59 points or -0.30%. The S&P 500 closed at 2,977.62 for a loss of 7.25 points or -0.24%. The Nasdaq Composite closed at 8,030.66 for a loss of 46.72 points or -0.58%. The VIX Volatility Index was higher at 16.07 for a gain of 0.11 points or 0.69%.

Thursday's market movers

Stocks pushed lower Thursday with a turn in trade sentiment and the House of Representatives continued presidential impeachment investigation. A government official reported that the U.S. was unlikely to extend a current waiver expiring in November that allows business dealings with China's Huawei. The report came after Chinese officials said its importers would be buying large amounts of soybeans and pork from the U.S. An aftermarket announcement Thursday said trade talks between the U.S. and China were scheduled for Oct. 10.

The House of Representatives continued its now intensive impeachment investigation focused on the request by President Trump to obtain information on 2020 presidential campaign competitor Joe Biden and his son. Director of National Intelligence Joseph Maguire testified Thursday before the House Intelligence Committee, discussing his involvement in the whistleblower complaint that led to the investigation.

Economic reports affecting market trading included the following:

  • The final report on second-quarter gross domestic product showed a growth rate of 2%, down from the previous quarter's 3.1%.
  • Corporate profits increased 3.7% in the second quarter following a decrease of 4.1%.
  • The goods trade balance for August showed a deficit of $72.83 billion following a deficit of $72.46 billion.
  • Wholesale inventories increased 0.4% in August following an increase of 0.1%.
  • Jobless claims increased to 213,000 from 210,000.
  • Pending home sales increased 1.6% in August and 2.5% year over year.
  • The Treasury held auctions for four-week bills at a rate of 1.88%, eight-week bills at a rate of 1.86% and seven-year notes at a rate of 1.633%.
  • Fed officials Kaplan, Bullard, Clarida, Daly, Kashkari and George all gave speeches.

In the S&P 500, the energy, health care and financial sectors led losses. In the Dow Jones Industrial Average, the following stocks led losses:

  • UnitedHealth (NYSE:UNH) -3.01%
  • Chevron (NYSE:CVX) -2.71%
  • Johnson & Johnson (NYSE:JNJ) -1.63%
  • Cisco (NASDAQ:CSCO) -1.56%
  • Disney (NYSE:DIS) -1.37%
  • Intel (NASDAQ:INTC) -1.25%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,533.33 for a loss of 17.33 points or -1.12%. The S&P 600 closed at 952.48 for a loss of 10.28 points or -1.07%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,762.37 for a loss of 105.95 points or -1.07%. The Dow Jones U.S. Small-Cap Value Index closed at 9,465.49 for a loss of 65.76 points or -0.69%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,936.97 for a loss of 10.46 points or -0.54%; the S&P 100 at 1,313.96 for a loss of 4.66 points or -0.35%; the Nasdaq 100 at 7,771.99 for a loss of 31.55 points or -0.40%; the Russell 3000 at 1,744.53 for a loss of 5.66 points or -0.32%; the Russell 1000 at 1,645.28 for a loss of 4.41 points or -0.27%; the Wilshire 5000 at 30,438.24 for a loss of 98.62 points or -0.32%; and the Dow Jones U.S. Select Dividend Index at 727.87 for a gain of 0.52 points or 0.071%.

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This article first appeared on GuruFocus.