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US Indexes Close Mostly Lower Again Wednesday

The Dow Jones Industrial Average closed at 26,957.59 on Wednesday with a loss of 123.77 points or -0.46%. The S&P 500 closed at 3,116.39 for a loss of 11.82 points or -0.38%. The Nasdaq Composite closed at 8,980.77 for a gain of 15.16 points or 0.17%. The VIX Volatility Index was lower at 27.56 for a loss of 0.29 points or -1.04%.

Wednesday's market movers

Investors remained focus on the coronavirus as the number of people infected continued to increase and the Center for Disease Control commented on risks. The CDC said there was a risk of a more widespread outbreak in the U.S. President Trump addressed the nation in a speech Wednesday night, reporting that a vaccine was in development and that Vice President Mike Pence was appointed head of the task force overseeing the problem.

On the earnings calendar:

  • Square (NYSE:SQ): Revenue of $1.31 billion increased 40.5% year over year. Fourth-quarter GAAP earnings of 83 cents per share beat estimates by 82 cents and non-GAAP earnings of 23 cents beat estimates by 2 cents.
  • Lowe's (NYSE:LOW): Revenue of $16.03 billion increased 2.4% year over year and missed estimates by $100 million. Fourth-quarter GAAP earnings of 66 cents per share missed estimates by 5 cents and non-GAAP earnings of 94 cents beat estimates by 3 cents.

Economic reports affecting market trading included the following:

  • The MBA Mortgage Applications Index increased 1.5% following a 6.4% decrease. The MBA's average 30-year mortgage rate decreased to 3.73% from 3.77%.
  • New home sales increased 7.9% in January to a seasonally adjusted annual rate of 0.764 million.
  • The EIA's Weekly Petroleum Status reports showed crude oil inventories increasing 0.452 million barrels to 1.078 billion barrels.
  • The Treasury held auctions for two-year notes at a rate of 0.160% and five-year notes at a rate of 1.150%.

In the S&P 500, energy and utilities led losses. In the Dow Jones Industrial Average, the following stocks led losses:

  • Disney (NYSE:DIS) -3.77%
  • Chevron (NYSE:CVX) -2.65%
  • Exxon (NYSE:XOM) -2.20%
  • Dow Inc. (NYSE:DOW) -2.05%
  • American Express (NYSE:AXP) -1.99%
  • Intel (NASDAQ:INTC) -1.89%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,552.76 for a loss of 19.14 points or -1.22%. The S&P 600 closed at 935.03 for a loss of 11.89 points or -1.26%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,089.38 for a loss of 122.45 points or -1.20%. The Dow Jones U.S. Small-Cap Value Index closed at 8,941.07 for a loss of 152.73 points or -1.68%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,921.97 for a loss of 29.97 points or -1.54%; the S&P 100 at 1,395.45 for a loss of 2.67 points or -0.19%; the Nasdaq 100 at 8,873.76 for a gain of 38.89 points or 0.44%; the Russell 3000 at 1,824.74 for a loss of 9.85 points or -0.54%; the Russell 1000 at 1,724.76 for a loss of 8.50 points or -0.49%; the Wilshire 5000 at 31,862.70 for a loss of 166.77 points or -0.52%; and the Dow Jones U.S. Select Dividend Index at 698.53 for a loss of 8.34 points or -1.18%.

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This article first appeared on GuruFocus.