The Dow Jones Industrial Average closed at 26,252.24 on Thursday with a gain of 49.51 points or 0.19%. The S&P 500 closed at 2,922.95 for a loss of 1.48 points or -0.05%. The Nasdaq Composite closed at 7,991.39 for a loss of 28.82 points or -0.36%. The VIX Volatility Index was higher at 16.70 for a gain of 0.90 points or 5.70%.
Thursday's market movers
The Dow Jones and S&P 500 continued gains for a second day Thursday as retailers ended the second-quarter earnings season reporting stronger results than expected. The Nasdaq Composite and Nasdaq 100 were both lower for the day after federal and state attorney generals announced widespread antitrust investigations.
Investors were also watching comments from the Jackson Hole Symposium, which began Thursday. Overall, sentiment seems to continue to follow with the Federal Reserve's July minutes, which showed that the Fed is taking all economic factors into consideration for isolated policy decisions rather than a long-term direction. Fed Chairman Jerome Powell is scheduled to speak on Friday.
Economic reports affecting market trading included the following:
- Jobless claims decreased to 209,000 from 221,000.
- The Markit Composite PMI decreased to 50.9 in August from 52.6. Separately, the Markit Manufacturing PMI decreased to 49.9 from 50.4 and the Markit Services PMI decreased to 50.9 from 53.
- The Conference Board's Leading Economic Indicators Index increased 0.5% in July following a decrease of 0.1%.
- The Treasury held auctions for four-week bills at a rate of 2.060% and eight-week bills at a rate of 1.985%.
- Mortgage rates were lower according to Freddie Mac's weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.55%, decreasing from 3.60%. The 15-year fixed-rate mortgage averaged 3.03%, decreasing from 3.07%.
In the S&P 500, the materials and energy sectors led losses. In the Dow Jones Industrial Average, the following stocks led gains and losses:
- Boeing (NYSE:BA) 4.76%
- JPMorgan (NYSE:JPM) 1.31%
- Dow Inc. (NYSE:DOW) -2.69%
- UnitedHealth (NYSE:UNH) -2.70%
In small caps, the Russell 2000 closed at 1,506.01 for a loss of 3.84 points or 0.25%. The S&P 600 closed at 925.35 for a loss of 2.76 points or -0.30%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,773.96 for a loss of 12.25 points or -0.13%. The Dow Jones U.S. Small-Cap Value Index closed at 9,086.85 for a gain of 12.01 points or 0.13%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,888.46 for a gain of 1.60 points or 0.085%; the S&P 100 at 1,291.31 for a loss of 0.78 points or -0.060%; the Nasdaq 100 at 7,707.43 for a loss of 25.79 points or -0.33%; the Russell 3000 at 1,715.41 for a loss of 1.16 points or -0.067%; the Russell 1000 at 1,617.94 for a loss of 0.88 points or -0.054%; the Wilshire 5000 at 29,909.24 for a loss of 14.81 points or -0.050%; and the Dow Jones U.S. Select Dividend Index at 698.34 for a gain of 1.67 points or 0.24%.
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This article first appeared on GuruFocus.