US Indexes Close Lower Tuesday

The Dow Jones Industrial Average closed at 30,937.04 on Tuesday with a loss of 22.96 points or -0.07{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The S&P 500 closed at 3,849.62 for a loss of 5.74 points or -0.15{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The Nasdaq Composite closed at 13,626.06 for a loss of 9.93 points or -0.07{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The VIX Volatility Index was lower at 23.02 for a loss of 0.17 points or -0.73{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}.

Tuesday’s Market Movers

U.S. indexes ended lower Tuesday. Earnings reports topped the headlines.

• General Electric (NYSE:GE): Revenue of $21.9 billion decreased -16.5{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $280 million. Q4 GAAP EPS of $0.27 beat estimates by $0.25 and non-GAAP EPS of $0.08 missed estimates by $0.01.
• 3M (NYSE:MMM): Revenue of $8.58 billion increased 5.8{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $190 million. Q4 GAAP EPS of $2.38 beat estimates by $0.21.
• Johnson & Johnson (NYSE:JNJ): Revenue of $22.48 billion increased 8.3{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $860 million. Q4 GAAP EPS of $0.65 missed estimates by $0.78 and non-GAAP EPS of $1.86 beat estimates by $0.03.
• American Express (NYSE:AXP): Revenue of $9.35 billion decreased -17.8{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $30 million. Q4 GAAP EPS of $1.76 beat estimates by $0.47.
• Verizon (NYSE:VZ): Revenue of $34.7 billion decreased -0.2{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $230 million. Q4 GAAP EPS of $1.11 missed estimates by $0.06 and non-GAAP EPS of $1.21 beat estimates by $0.04.
• Microsoft (NASDAQ:MSFT): Revenue of $43.08 billion increased 16.7{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $2.85 billion. FQ2 GAAP EPS of $2.03 beat estimates by $0.39.
• Advanced Micro Devices (NASDAQ:AMD): Revenue of $3.24 billion increased 52.1{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year and beat estimates by $210 million. Q4 GAAP EPS of $1.45 beat estimates by $1.04 and non-GAAP EPS of $0.52 beat estimates by $0.04.

In other news:

• Janet Yellen has been confirmed as the new Treasury secretary.
• The Biden Administration is making efforts to have enough vaccines for the entire U.S. population by the end of summer 2021.
• The IMF released its World Economic Outlook.
• The S&P/Case-Shiller Home Price Index increased 1.1{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} in November and 9.1{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year.
• The FHFA House Price Index increased 1{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} in November and 11{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} year over year.
• The Conference Board’s Consumer Confidence Index increased to 89.3 in January from 87.1.
• The Richmond Fed Manufacturing Index decreased to 14 from 19.
• The Treasury held auctions for 119-day bills at a rate of 0.075{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}, 42-day bills at a rate of 0.070{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}, five-year notes at a rate of 0.424{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} and 52-week bills at a rate of 0.090{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}.

Across the board:

• GameStop (NYSE:GME) +92.71{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} and Bed Bath & Beyond (NASDAQ:BBBY) +20.18{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9} fueled by a Reddit Forum short squeeze strategy.
• Energy stocks led losses with an announcement that President Biden has halted Trump-era oil and gas leasing on national parks and other protected federal land.

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 2,149.86 for a loss of 13.42 points or -0.62{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The S&P 600 closed at 1,233.22 for a gain of 0.39 points or 0.032{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The Dow Jones U.S. Small-Cap Growth Index closed at 14,966.28 for a loss of 134.60 points or -0.89{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}. The Dow Jones U.S. Small-Cap Value Index closed at 9,648.14 for a loss of 24.09 points or -0.25{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,428.31 for a loss of 25.49 points or -1.04{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; the S&P 100 at 1,775.81 for a gain of 1.17 points or 0.066{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; the Nasdaq 100 at 13,490.19 for a gain of 6.89 points or 0.051{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; the Russell 3000 at 2,315.71 for a loss of 7.50 points or -0.32{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; the Russell 1000 at 2,175.72 for a loss of 6.57 points or -0.30{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; the Wilshire 5000 at 40,455.77 for a loss of 110.11 points or -0.27{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}; and the Dow Jones US Select Dividend Index at 717.23 for a loss of 0.41 points or -0.057{46dd52bca0123ad67b2d1222819e83fd0a56e45ca5068239f05f0c514f1e20f9}.

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