US Indexes Close Higher for a Second Day

The Dow Jones Industrial Average closed at 21,200.55 on Wednesday with a gain of 495.64 points or 2.39%. The S&P 500 closed at 2,475.56 for a gain of 28.23 points or 1.15%. The Nasdaq Composite closed at 7384.30 for a loss of 33.56 points or -0.45%. The VIX Volatility Index was higher at 63.95 for a gain of 2.28 points or 3.70%.

Wednesday’s market movers

U.S. indexes closed higher for a second day in a row. Investors were optimistic over the agreement of a $2 trillion stimulus package from Congress. The stimulus package is expected to include checks of up to $1,200 for Americans, depending on income.

Economic reports affecting market trading included the following:

The MBA Mortgage Applications Index decreased -29.4% and the MBA’s average 30-year mortgage rate increased to 3.82% from 3.74%. Durable goods orders increased 1.2% in February. Durable goods orders excluding transportation decreased -0.6%. Durable goods orders excluding defense increased 0.1%. The FHFA House Price Index increased 0.3% in January. The EIA’s Weekly Petroleum Status report showed crude oil inventory up 1.623 million barrels. WTI crude oil ended the day at approximately $24.33 per barrel. The Treasury held auctions for 2-year notes at a rate of 0.220% and 5-year notes at a rate of 0.535%. The 10-year Treasury ended the day at a yield of approximately 0.83%.

In the S&P 500, industrials and real estate led gains. In the Dow Jones Industrial Average, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,110.37 for a gain of 13.81 points or 1.26%. The S&P 600 closed at 655.40 for a gain of 6.08 points or 0.94%. The Dow Jones U.S. Small-Cap Growth Index closed at 7,439.66 for a gain of 131.00 points or 1.79%. The Dow Jones U.S. Small-Cap Value Index

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