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US Indexes Close Lower Tuesday

The Dow Jones Industrial Average closed at 26,807.77 on Tuesday with a loss of 142.22 points or -0.53%. The S&P 500 closed at 2,966.60 for a loss of 25.18 points or -0.84%. The Nasdaq Composite closed at 7,993.63 for a loss of 118.84 points or -1.46%. The VIX Volatility Index was higher at 17.05 for a gain of 2.14 points or 14.35%.

Tuesday's market movers

U.S. indexes ended the day lower after afternoon news led to a selloff. The day started with positive trade sentiment after reports showed China would exempt some buyers from import tariffs on certain farm products. Chinese importers followed with an announcement of 600,000 tons of U.S. soybean purchases through the end of the year.

Internationally, the British Supreme court ruled Boris Johnson's suspension of Parliament unlawful, increasing the risks and uncertainties of Brexit. At the United Nations General Assembly, President Trump criticized China's currency manipulation moves and also discussed increased pressure on Iran. Afternoon news also showed potential for House of Representatives Speaker Nancy Pelosi to announce an impeachment inquiry of President Trump.

In the S&P 500, the energy and consumer discretionary sectors led losses. On the earnings calendar, the following companies released earnings results:

  • AutoZone (NYSE:AZO): fourth-quarter non-GAAP earnings per share missed estimates by 84 cents at $20.95. GAAP earnings beat estimates by 70 cents at $22.59 per share. Revenue beat estimates by $60 million with a year-over-year increase of 12.1%.
  • CarMax (NYSE:KMX): second-quarter GAAP earnings beat estimates by 7 cents at $1.40 per share. Revenue beat estimates by $140 million and increased 9% year over year.
  • Nike (NYSE:NKE): first-quarter GAAP earnings beat estimates by 15 cents at 86 cents per share. Revenue beat estimates by $230 million and increased 7.1% year over year.

The third-quarter earnings season is expected to kick off the week of Oct. 14 with results from the big banks.

In the Dow Jones Industrial Average, the following stocks led losses on Tuesday:

  • Dow (NYSE:DOW) -2.73%
  • Goldman Sachs (NYSE:GS) -2.68%
  • Intel (NASDAQ:INTC) -2.12%
  • Caterpillar (NYSE:CAT) -1.89%
  • UnitedHealth (NYSE:UNH) -1.65%

Economic reports affecting market trading included the following:

  • The S&P/Case-Shiller Home Price Index increased 0.1% in July and 2% year over year.
  • The FHFA House Price Index increased 0.4% in July.
  • The Conference Board's Consumer Confidence Index decreased to 125.1 in September from 134.2.
  • The Treasury held an auction for two-year notes at a rate of 1.612%.

Small-cap stocks

In small caps, the Russell 2000 closed at 1,533.59 for a loss of 24.66 points or -1.58%. The S&P 600 closed at 950.06 for a loss of 12.38 points or -1.29%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,781.96 for a loss of 173.74 points or -1.75%. The Dow Jones U.S. Small-Cap Value Index closed at 9,389.26 for a loss of 114.02 points or -1.20%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,925.68 for a loss of 22.15 points or -1.14%; the S&P 100 at 1,308.76 for a loss of 12.45 points or -0.94%; the Nasdaq 100 at 7,710.04 for a loss of 108.57 points or -1.39%; the Russell 3000 at 1,738.68 for a loss of 16.54 points or -0.94%; the Russell 1000 at 1,639.36 for a loss of 14.83 points or -0.90%; the Wilshire 5000 at 30,302.32 for a loss of 304.19 points or -0.99%; and the Dow Jones U.S. Select Dividend Index at 722.43 for a loss of 3.53 points or -0.49%.

This article first appeared on GuruFocus.