US Market Indexes Close Mostly Flat Thursday
- By Julie Young
The Dow Jones Industrial Average closed at 24,597.38 on Thursday with a gain of 70.11 points or 0.29%. The S&P 500 closed at 2,650.54 for a loss of 0.53 points or -0.02%. The Nasdaq Composite closed at 7,070.33 for a loss of 27.98 points or -0.39%. The VIX Volatility Index was lower at 20.59 for a loss of 0.87 points or -4.05%.
Thursday's market movers
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The Nasdaq ended its three-day rally and the leading large-cap indexes closed mostly flat on Thursday, with the Dow Jones sustaining a second day of gains. Optimism on China fizzled, but further details showed the country would not be requiring foreign companies to comply with its China 2025 initiative any longer.
The S&P 500 retreated below a major resistance level of 2,673. Investors were also skeptical of political activities as the November Monthly Budget increased to a deficit of -$205 billion and Michael Cohen was sentenced to three years in prison for campaign dealings. In the S&P 500, materials, financials and consumer discretionary led losses with utilities, real estate and consumer staples leading gains.
Economic reports affecting market trading include the following:
Jobless claims decreased to 206,000 from 233,000.
Export and import prices were reported. Export prices decreased 0.9% in November and increased 1.8% annually. Import Prices decreased 1.6% in November and increased 0.7% annually.
Mortgage rates fell to a three-month low according to Freddie Mac's weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.63%, down from 4.75%. The 15-year fixed-rate mortgage averaged 4.07%, down from 4.21%.
The Treasury held auctions for four-week bills at a rate of 2.325% and 30-year bonds at a rate of 3.165%.
The November Monthly Budget Statement showed a deficit of $-205 billion, increasing from the previous report of $-100 billion.
In the Dow Jones Industrial Average, the following stocks led losses:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,432.70 for a loss of 22.62 points or -1.55%. The S&P 600 closed at 892.11 for a loss of 14.87 points or -1.64%. The Dow Jones Small-Cap Growth TSM Index closed at 8,920.12 for a loss of 140.85 points or -1.55%. The Dow Jones Small-Cap Value TSM Index closed at 9,102.15 for a loss of 114.80 points or -1.25%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,758.62 for a loss of 18.63 points or -1.05%; the S&P 100 at 1,178.25 for a gain of 2.23 points or 0.19%; the Russell 3000 at 1,556.78 for a loss of 3.27 points or -0.21%; the Russell 1000 at 1,463.35 for a loss of 1.56 points or -0.11%; the Wilshire 5000 at 27,240.09 for a loss of 62.43 points or -0.23%; and the Dow Jones U.S. Select Dividend Index at 679.12 for a loss of 0.65 points or -0.10%.
This article first appeared on GuruFocus.
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The intrinsic value of NKE
