SPY Ends Nearly Flat as JNJ Falls 5.73%; Energy Leads Sectors
SPY closed nearly flat at 778.01 on Oct. 13 as QQQ and DIA each fell 0.33%; Energy rose 1.80%, Health Care fell 1.36% and JNJ dropped 5.73%.
SPY ended Tuesday, Oct. 13, essentially unchanged, down 0.01% at 778.01. Other benchmarks posted modest losses: QQQ fell 0.33% to 743.57, DIA declined 0.33% to 516.21, a drop of 1.70 points, and the small-cap IWM lost 0.43% to 276.70. QQQ fell 2.47 points and IWM 1.20 points.
Sector results were split, with five funds higher and six lower. Energy (XLE) led with a 1.80% gain to 67.20, followed by Communication Services (XLC), up 0.75%, Utilities (XLU), up 0.58%, and Materials (XLB), up 0.57%. Health Care (XLV) was the weakest sector, falling 1.36% to 169.66. Financials (XLF) slipped 0.42%, and Technology (XLK) was little changed, down 0.04%. Consumer Discretionary (XLY) edged up 0.08%, while Consumer Staples (XLP) slipped 0.26%.
Two companies that appeared in the day's earnings calendar were among the biggest movers. JNJ fell 5.73% to 248.61, the largest decline among large caps, and WFC dropped 3.10% to 80.74. CAT lost 3.33% to 772.78, ABBV fell 2.41% and MRK declined 2.39%. On the upside, ORCL rose 4.23% to 143.20, META gained 2.63% to 762.50 and TXN added 2.17%. AMD rose 1.90% and VZ gained 1.75%.
Barron's daily wrap was headlined “Review & Preview: Not a Bang but a Whimper.” The Wall Street Journal reported “Failure of Australia's Largest IPO in Decades Sends Tremors Through AI Trade.”
The VIX closed at 15.27 and the 10-year Treasury yield stood at 5.21%, according to FRED.
Data
| Instrument | Close | Change |
|---|---|---|
| SPY | 778.01 | -0.01% |
| QQQ | 743.57 | -0.33% |
| DIA | 516.21 | -0.33% |
| IWM | 276.70 | -0.43% |
Data: FMP, FRED. Figures are close-to-close unless stated.
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Neutral market summary for information only; not investment advice.
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