U.S. Markets closed

US Indexes Close Mostly Higher Wednesday

The Dow Jones Industrial Average closed at 27,783.59 on Wednesday with a gain of 92.10 points or 0.33%. The S&P 500 closed at 3,094.04 for a gain of 2.20 points or 0.07%. The Nasdaq Composite closed at 8,482.10 for a loss of 3.99 points or -0.05%. The VIX Volatility Index was higher at 13.00 for a gain of 0.32 points or 2.52%.

Wednesday's market movers

U.S. indexes closes mostly higher Wednesday. Federal Reserve Chairman Jerome Powell gave a speech on the economic outlook before the Congressional Joint Economic Committee, commenting that another rate increase is not likely given the current economic data. Congress held its first public testimony in the presidential impeachment hearings. Reports showed that tariffs and agriculture purchases are still being debated for a final phase one trade agreement with China. Technology company Cisco (NASDAQ:CSCO) reported its earnings results after the closing bell with revenue of $13.16 billion up 0.7% year over year and beating estimates by $70 million. Cisco's GAAP earnings were 68 cents per share, beating estimates by 1 cent and its non-GAAP earnings were 84 cents, beating estimates by 3 cents.

Economic reports affecting market trading included the following:

  • The MBA's Mortgage Applications Index increased 9.6% following a decrease of 0.1%. The MBA's average 30-year mortgage rate increased to 4.03% from 3.98%.
  • The Consumer Price Index increased 0.4% in October and 1.8% year over year. The core inflation rate increased 0.2% in October and 2.3% year over year.
  • The Monthly Treasury Budget Statement showed a deficit of $134 billion in October.
  • The Weekly Petroleum Status report showed an increase of 7.2 million barrels in crude oil inventory.

In the S&P 500, the utilities and real estate sectors led gains. In the S&P 100, the following stocks led gains and losses:

  • Disney (NYSE:DIS) 7.80%
  • NextEra (NYSE:NEE) 2.10%
  • Southern Co. (NYSE:SO) 2.01%
  • DuPont (NYSE:DD) -3.65%
  • General Motors (NYSE:GM) -3.63%
  • Cisco (NASDAQ:CSCO) -3.56%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,589.18 for a loss of 5.94 points or -0.37%. The S&P 600 closed at 979.62 for a loss of 5.85 points or -0.59%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,126.49 for a loss of 16.95 points or -0.17%. The Dow Jones U.S. Small-Cap Value Index closed at 9,693.45 for a loss of 67.55 points or -0.69%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,986.46 for a loss of 4.53 points or -0.23%; the S&P 100 at 1,378.84 for a gain of 0.23 points or 0.017%; the Nasdaq 100 at 8,259.81 for a loss of 3.98 points or -0.048%; the Russell 3000 at 1,811.76 for a gain of 0.71 points or 0.039%; the Russell 1000 at 1,708.94 for a gain of 1.16 points or 0.068%; the Wilshire 5000 at 31,603.50 for a gain of 7.31 points or 0.023%; and the Dow Jones U.S. Select Dividend Index at 737.81 for a loss of 0.82 points or -0.11%.

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This article first appeared on GuruFocus.