The Dow Jones Industrial Average closed at 27,272.30 on Tuesday with a loss of 300.14 points or -1.09%. The S&P 500 closed at 3,207.18 for a loss of 25.21 points or -0.78%. The Nasdaq Composite closed at 9,953.75 for a gain of 29.01 points or 0.29%. The VIX Volatility Index was higher at 27.41 for a gain of 1.60 points or 6.20%.
<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=”13″>Tuesday’s market movers
U.S indexes were mostly lower Tuesday after rallying from a strong May jobs report and energy sector agreement. The Nasdaq continued to climb, posting another record close.
In the S&P 500, consumer discretionary and consumer staples were both down after gaining for several days from reopening success. The S&P 500 energy sector took back some of its gains from Monday, falling 3.57%. OPEC+ announced its agreement to keep production down through July over the weekend.
The Federal Open Market Committee began its two-day June policy meeting. The 10-year Treasury ended with a yield of 0.82%. The CME Fed Watch Tool showed an 85% probability of no change in the federal funds rate at zero to 25 basis points. A report from the National Bureau of Economic Research said the U.S. economy’s expansion officially ended in February.
In other news:
- The initial public offering of Vroom (NASDAQ:VRM) took place Tuesday. The stock gained over 100% to end at $47.90.
- Online insurance company Lemonade has filed for an initial public offering.
- The NFIB Business Optimism Index improved to 94.4 in May from 90.9.
- The Job Openings and Labor Turnover Survey showed job openings of 5.046 million in April.
- Wholesale inventories increased 0.3% in April after falling 1.1%.
- The Treasury held an auction for 119-day bills at a rate of 0.185%, 42-day bills at a rate of 0.165% and 10-year notes at a rate of 0.832%.
In the Nasdaq 100, the following stocks led gains:
- Advanced Micro Devices (NASDAQ:AMD) 6.5%
- Netflix (NASDAQ:NFLX) 3.54%
- Facebook (NASDAQ:FB) 3.22%
- Apple (NASDAQ:AAPL) 3.2%
- Amazon (NASDAQ:AMZN) 3.11%
- Nvidia (NASDAQ:NVDA) 2.83%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-cap stocks” data-reactid=”40″>Small-cap stocks
In small caps, the Russell 2000 closed at 1,507.05 for a loss of 29.84 points or -1.94%. The S&P 600 closed at 894.77 for a loss of 23.04 points or -2.51%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,264.53 for a loss of 181.47 points or -1.74%. The Dow Jones U.S. Small-Cap Value Index closed at 7,791.11 for a loss of 257.24 points or -3.20%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other notable indexes” data-reactid=”42″>Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,905.37 for a loss of 40.84 points or -2.10%; the S&P 100 at 1,460.80 for a loss of 3.78 points or -0.26%; the Nasdaq 100 at 9,967.17 for a gain of 65.65 points or 0.66%; the Russell 3000 at 1,871.67 for a loss of 18.00 points or -0.95%; the Russell 1000 at 1,775.46 for a loss of 15.92 points or -0.89%; the Wilshire 5000 at 32,706.72 for a loss of 291.90 points or -0.88%; and the Dow Jones U.S. Select Dividend Index at 636.97 for a loss of 15.70 points or -2.41%.
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