Russell 2000 reports another record close while large caps end mostly lower

U.S. market indexes were mostly lower Thursday. The Dow Jones Industrial Average closed at 24,713.98 for a loss of -54.95 points or -0.22%. The S&P 500 closed at 2,720.13 for a loss of -2.33 points or -0.09%. The Nasdaq Composite closed at 7,382.47 for a loss of -15.82 points or -0.21%. The VIX Volatility Index was lower at 13.34 for a loss of -0.04 points or -0.60%.

Thursday’s market movers

The three main U.S. indexes were lower Thursday while the Russell 2000 continued its ascent. The Russell 2000 closed at a new high for a second consecutive day with small-cap stocks gaining. Across large-cap stocks, technology had a down day after Cisco (NASDAQ:CSCO) reported some areas of weakness in its first-quarter earnings and closed with a -3.83% loss. The 10-year Treasury yield also reached 3.13%, which detracted from valuations in some of the large-cap market’s dividend stocks. Sectors leading losses included utilities, real estate and technology.

Economic reports affecting market trading included the following:

Jobless claims increased by 11,000 to 222,000. E-commerce retail sales reported a seasonally adjusted annual growth rate of 3.9% for the first quarter. The Conference Board’s Leading Economic Indicators Index increased 0.4% for the month. Freddie Mac’s weekly mortgage market survey showed mortgage rates reaching their highest level in seven years. The 30-year fixed-rate mortgage average increased to 4.61%. The 15-year fixed-rate mortgage average increased to 4.08%. Fed balance sheet assets were $4.358 trillion, an increase of $2.1 billion from the previous week’s report.

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

Small-cap stocks

In small-caps, the Russell 2000 closed at 1,625.21 for a gain of 8.84 points or 0.55%. The S&P 600 closed at 1,001.02 for a gain of 6.93 points or 0.70%. The Dow Jones Small-Cap Growth TSM Index closed

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