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Julie Young
Julie Young
Articles (1449) 

US Indexes Start the Week Higher

S&P 500 up 1.47%

The Dow Jones Industrial Average closed at 24,133.78 on Monday with a gain of 358.51 points or 1.51%. The S&P 500 closed at 2,878.48 for a gain of 41.74 points or 1.47%. The Nasdaq Composite closed at 8,730.16 for a gain of 95.64 points or 1.11%. The VIX Volatility Index was lower at 33.07 for a loss of 2.86 points or 7.96%.

Monday’s market movers

U.S. indexes started the week higher Monday. In the S&P 500, financials and real estate led gains, with broadening plans for state reopenings. States that have already enacted reopenings include Alaska, Oklahoma, California, Florida, Georgia, Montana, Minnesota, Tennessee and Hawaii. Many other states have shelter orders that are expected to be lifted after the beginning of May. New York and New Jersey appear to be looking toward a mid-May target.

Later this week, investors will also be watching earnings reports from many of the FAANG stocks. The Commerce Department will also be releasing first-quarter gross domestic product. On the earnings calendar Monday:

  • Lexicon Pharmaceuticals (NASDAQ:LXRX) gained 12.20% after reporting earnings of 63 cents per share, which beat expectations by 3 cents.
  • CNX Resources (NYSE:CNX) gained 12.09% after reporting earnings of 19 cents per share, which beat expectations by 8 cents.
  • CNX Midstream (NYSE:CNXM) was down 36.33% after reporting earnings of 49 cents, which beat expectations by 7 cents.

On Tuesday and Wednesday, the Federal Open Market Committee will also hold an April monetary policy meeting.

Economic reports affecting market trading included the following:

  • The Dallas Fed Manufacturing Index decreased to -73.7 in April from -70.
  • The Treasury held auctions for two-year notes at a rate of 0.229%, six-month bills at a rate of 0.150%, three-month bills at a rate of 0.120% and five-year notes at a rate of 0.394%. The 10-year Treasury ended with a yield of 0.657%.

In the S&P 100, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,281.80 for a gain of 48.75 points or 3.95%. The S&P 600 closed at 745.84 for a gain of 30.70 points or 4.29%. The Dow Jones U.S. Small-Cap Growth Index closed at 8,716.92 for a gain of 309.65 points or 3.68%. The Dow Jones U.S. Small-Cap Value Index closed at 6,343.46 for a gain of 312.00 points or 5.17%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,613.53 for a gain of 63.16 points or 4.07%; the S&P 100 at 1,320.13 for a gain of 13.81 points or 1.06%; the Nasdaq 100 at 8,837.66 for a gain of 51.05 points or 0.58%; the Russell 3000 at 1,663.35 for a gain of 29.23 points or 1.79%; the Russell 1000 at 1,582.19 for a gain of 25.82 points or 1.66%; the Wilshire 5000 at 29,080.05 for a gain of 499.29 points or 1.75%; and the Dow Jones U.S. Select Dividend Index at 571.69 for a gain of 14.16 points or 2.54%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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