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US Indexes Regain Ground Tuesday After Selloff

The Dow Jones Industrial Average closed at 26,029.52 on Tuesday with a gain of 311.78 points or 1.21%. The S&P 500 closed at 2,881.77 for a gain of 37.03 points or 1.30%. The Nasdaq Composite closed at 7,833.27 for a gain of 107.23 points or 1.39%. The VIX Volatility Index was lower at 19.78 for a loss of 4.81 points or -19.56%

Tuesday's market movers

U.S. indexes closed higher Tuesday after a six-day selloff. Indexes reported their worst losses of 2019 on Monday after the U.S. dollar-Chinese yen exchange rate fell to 7 and China halted U.S. agriculture purchases. Stock investors were also watching comments from the Fed's James Bullard Tuesday at the National Economists Club, where he spoke on U.S. monetary and economic policy. Bullard's comments were generally in line with Powell's suggesting that the Federal Open Market Committee would take a month-by-month approach to policy actions.

Economic reports affecting market trading included the following:

  • The Job Openings and Labor Turnover Survey showed job openings at 7.348 million, down just slightly from 7.384 million.
  • The Treasury held an auction for three-year notes at a rate of 1.562%.

In the S&P 500, the technology, consumer discretionary and financial sectors led gains. In the Dow Jones, Disney (NYSE:DIS) reported second-quarter earnings after the bell with a revenue miss and earnings per share miss of 39 cents. Top Dow Jones gainers for the day included the following:

  • Nike (NYSE:NKE) 2.84%
  • Disney (NYSE:DIS) 2.56%
  • Cisco (NASDAQ:CSCO) 2.49%
  • United Technologies (NYSE:UTX) 2.42%
  • Visa (NYSE:V) 2.21%
  • Microsoft (NASDAQ:MSFT) 2.00%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,502.08 for a gain of 14.67 points or 0.99%. The S&P 600 closed at 921.79 for a gain of 10.08 points or 1.11%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,698.52 for a gain of 110.38 points or 1.15%. The Dow Jones U.S. Small-Cap Value Index closed at 9,143.35 for a gain of 84.46 points or 0.93%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,883.51 for a gain of 22.68 points or 1.22%; the S&P 100 at 1,273.35 for a gain of 16.36 points or 1.30%; the Nasdaq 100 at 7,521.32 for a gain of 105.63 points or 1.42%; the Russell 3000 at 1,693.37 for a gain of 21.59 points or 1.29%; the Russell 1000 at 1,595.99 for a gain of 20.69 points or 1.31%; the Wilshire 5000 at 29,524.61 for a gain of 374.93 points or 1.29%; and the Dow Jones U.S. Select Dividend Index at 694.05 for a gain of 6.14 points or 0.89%.

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This article first appeared on GuruFocus.