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US Indexes End Rally, Closing Lower Tuesday

The Dow Jones Industrial Average closed at 25,962.44 on Tuesday with a loss of 173.35 points or -0.66%. The S&P 500 closed at 2,900.51 for a loss of 23.14 points or -0.79%. The Nasdaq Composite closed at 7,948.56 for a loss of 54.25 points or -0.68%. The VIX Volatility Index was higher at 17.53 for a gain of 0.65 points or 3.85%.

Tuesday's market movers

Stocks ended a three-day rally Tuesday with indexes closing lower. FAANG stocks, excluding Apple (AAPL), were all lower after federal and state attorney generals announced they would be moving forward with a big tech probe.

On the earnings calendar, investors were watching the last of the high-profile earnings for the second quarter. The following retail companies reported Tuesday:

  • Home Depot (NYSE:HD): Missed revenue expectations. Beat earnings per share estimates by 9 cents.
  • Kohl's (NYSE:KSS): Beat revenue estimates. Beat earnings per share estimates by 2 cents.
  • TJX (NYSE:TJX): Missed revenue estimates. Earnings per share in line with estimates.
  • Urban Outfitters (NASDAQ:URBN): Missed revenue estimates. Beat earnings per share estimates by 3 cents.

On the political front, the Trump administration gave an extended 90-day reprieve for Huawei's business dealings with U.S. companies while also adding more companies to the China blacklist. The administration also reported it was considering some new tax cuts.

There were no major reports on the economic calendar. In Treasuries, yields fell. The yield on the 10-year note ended at 1.553% with its price rising 6/32.

In the S&P 500, the financial, materials and consumer staples sectors led losses. In the Dow Jones Industrial Average, the following stocks led losses:

  • Dow Inc. (NYSE:DOW) -5.31%
  • American Express (NYSE:AXP) -2.04%
  • IBM (NYSE:IBM) -1.41%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,498.01 for a loss of 10.84 points or -0.72%. The S&P 600 closed at 920.86 for a loss of 8.50 points or -0.91%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,700.02 for a loss of 55.10 points or -0.56%. The Dow Jones U.S. Small-Cap Value Index closed at 9,042.80 for a loss of 91.53 points or -1.00%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,876.30 for a loss of 15.41 points or -0.81%; the S&P 100 at 1,280.77 for a loss of 10.52 points or -0.81%; the Nasdaq 100 at 7,664.47 for a loss of 54.85 points or -0.71%; the Russell 3000 at 1,702.47 for a loss of 12.99 points or -0.76%; the Russell 1000 at 1,605.48 for a loss of 12.30 points or -0.76%; the Wilshire 5000 at 29,677.15 for a loss of 232.72 points or -0.78%; and the Dow Jones U.S. Select Dividend Index at 689.56 for a loss of 6.81 points or -0.98%.

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This article first appeared on GuruFocus.