The Dow Jones Industrial Average closed at 28,722.85 on Tuesday with a gain of 187.05 points or 0.66%. The S&P 500 closed at 3,276.24 for a gain of 32.61 points or 1.01%. The Nasdaq Composite closed at 9,269.68 for a gain of 130.37 points or 1.43%. The VIX Volatility Index was lower at 16.33 for a loss of 1.90 points or -10.42%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tuesday’s Market Movers” data-reactid=”12″>Tuesday’s Market Movers
U.S. indexes rebounded Tuesday while top risks still remained. The new coronavirus in China reported more infections. The Trump Administration entered into its second day of defense in the impeachment trial with a higher chance of questioning former security advisor John Bolton. News was released stating that Bolton has written about a discussion over withholding aid to Ukraine in relation to the Biden investigation. Senator Mitch McConnell also reported that the Republicans don’t have enough votes to keep impeachment witnesses from testifying as part of the trial.
Top earnings on the calendar included the following:
- 3M (MMM): Revenue of $8.11 billion increased 2.0% year over year and missed estimates by $10 million. Q4 GAAP EPS of $1.66 missed estimates by $0.44 and non-GAAP EPS of $2.15 beat estimates by $0.05.
- United Technologies (UTX): Revenue of $19.55 billion increased 8.4% year over year and beat estimates by $210 million. Q4 GAAP EPS was $1.32 and non-GAAP EPS of $1.94 beat estimates by $0.10.
- Pfizer (PFE): Revenue of $12.69 billion decreased -9.2% year over year and missed estimates by $40 million. Q4 GAAP EPS of -$0.06 missed estimates by $0.59 and non-GAAP EPS of $0.55 missed estimates by $0.03.
- Apple (NASDAQ:AAPL): Revenue of $91.82 billion increased 8.9% year over year and beat estimates by $3.41 billion. Q1 GAAP EPS of $4.99 beat estimates by $0.45.
In other news:
- The Treasury yield curve saw some inversion as shorter term yields have been rallying.
- The UK announced it will work with Huawei, allowing it to build parts for the 5G network.
- President Trump released a Middle East peace plan that would create separation for Palestinians and Israelis.
- Durable goods orders increased 2.4% in December following a decrease of -3.1%. Durable goods orders excluding transportation decreased -0.1% and durable goods orders excluding defense decreased -2.5%.
- The S&P/Case-Shiller Home Price Index increased 0.1% in November and 2.6% year over year.
- The Conference Board’s Consumer Confidence Index increased to 131.6 from 128.2.
- The Treasury held an auction for 52-week bills at a rate of 1.490%, 2-year notes at a rate of 0.154% and 7-year notes at a rate of 1.570%.
In the S&P 500, technology and financials led gains. In the Dow Jones Industrial Average, the following stocks led gains:
- Apple (NASDAQ:AAPL) 2.78%
- Intel (NASDAQ:INTC) 2.53%
- JPMorgan (NYSE:JPM) 2.08%
- Microsoft (NASDAQ:MSFT) 2.00%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-Cap Stocks” data-reactid=”44″>Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,658.31 for a gain of 14.18 points or 0.86%. The S&P 600 closed at 1,012.23 for a gain of 8.30 points or 0.83%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,715.55 for a gain of 110.47 points or 1.04%. The Dow Jones U.S. Small-Cap Value Index closed at 3,755.15 for a gain of 23.76 points or 0.64%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other Notable Indexes” data-reactid=”46″>Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,056.38 for a gain of 20.41 points or 1.00%; the S&P 100 at 1,465.56 for a gain of 14.36 points or 0.99%; the Nasdaq 100 at 9,090.93 for a gain of 138.75 points or 1.55%; the Russell 3000 at 1,918.66 for a gain of 19.04 points or 1.00%; the Russell 1000 at 1,811.62 for a gain of 18.15 points or 1.01%; the Wilshire 5000 at 33,486.44 for a gain of 328.40 points or 0.99%; and the Dow Jones U.S. Select Dividend Index at 754.34 for a gain of 5.65 points or 0.75%.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article first appeared on GuruFocus.
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