U.S. Markets closed

US Market Indexes Gain on Wednesday

- By Julie Young

U.S. market indexes gained on Wednesday. The Dow Jones Industrial Average closed at 21,807.64 for a gain of 54.33 points or 0.25%. The S&P 500 closed at 2,465.54 for a gain of 7.69 points or 0.31%. The Nasdaq Composite closed at 6,393.31 for a gain of 17.74 points or 0.28%. The VIX Volatility Index was lower for the day at 11.64 for a loss of -0.59 points or -4.82%.

Wednesday's market movers

Congress enacted a stopgap agreement to increase the debt limit and keep the government funded until December. Economic reports affecting market trading included the following:

  • The Mortgage Bankers Association's mortgage applications index reported an increase of 3.3%.
  • International trade reported a deficit of -$43.7 billion.
  • The PMI Services Index was reported at 56.0, below consensus of 56.9.
  • The ISM Manufacturing Index was reported at 55.3, below consensus of 55.8.
  • The Federal Reserve released its Beige Book, reporting economic levels at modest to moderate with details on Hurricane Harvey, inflation, consumer spending and GDP.
  • It was also reported that Federal Reserve Vice Chairman Stanly Fischer is resigning.

In the Dow Jones Industrial Average, the following stocks led gains:

Home Depot (HD) 2.39%

Chevron (CVX) 2.16%

Intel (INTC) 2.14%

Exxon (XOM) 2.12%

Travelers (TRV) 2.01%

DuPont (DD) 0.89%

Cisco (CSCO) 0.82%

General Electric (GE) 0.69%

JPMorgan (JPM) 0.66%

IBM (IBM) 0.55%

In the broad market, energy stocks led gains. Technology was also higher with the S&P 500 technology sector gaining 0.09%.

Small-cap stocks

In small-caps, the Russell 2000 closed at 1,402.20 for a gain of 2.54 points or 0.18%. The S&P 600 closed at 839.94 for a gain of 2.01 points or 0.24%. The Dow Jones Small-Cap Growth TSM Index closed at 8,579.40 for a gain of 10.68 points or 0.12%. The Dow Jones Small-Cap Value TSM closed at 9,409.37 for a gain of 13.30 points or 0.14%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,719.67 for a gain of 1.33 points or 0.08%; the S&P 100 Index at 1,090.44 for a gain of 3.70 points or 0.34%; the Russell 3000 Index at 1,457.77 for a gain of 4.07 points or 0.28%; the Russell 1000 Index at 1,365.77 for a gain of 3.92 points or 0.29%; and the Dow Jones U.S. Select Dividend Index at 657.53 for a gain of 1.32 points or 0.20%.

This article first appeared on GuruFocus.