The Dow Jones Industrial Average closed at 27,572.44 on Monday with a gain of 461.46 points or 1.70%. The S&P 500 closed at 3,232.39 for a gain of 38.46 points or 1.20%. The Nasdaq Composite closed at 9,924.74 for a gain of 110.66 points or 1.13%. The VIX Volatility Index was higher at 25.81 for a gain of 1.29 points or 5.26%.
Monday’s market movers
U.S. indexes ended higher Monday. The Nasdaq reported a new record close. Investors showed optimism over the economy as reopening progress and Friday’s strong labor market results carried into the new week.
In the S&P 500, the energy sector led gains with a return of 4.59%. Oil imports into China reported their highest level in history during the month of May. OPEC+ also announced an agreement on production cuts of 9.6 million barrels per day through the end of July.
In other news:
- Investors were watching Treasury market activity and CME’s Fed Watch Tool. The Fed Watch Tool showed an 85% probability that the federal funds rate would remain at 0 to 25 basis points.
- The Treasury held auctions for three-month bills at a rate of 0.170%, six-month bills at a rate of 0.185% and three-year notes at a rate of 0.280%. The 10-year Treasury ended with a yield of 0.882%.
- Tesla (TSLA) reported its highest close ever.
- AstraZeneca (AZN) and Gilead Sciences (GILD) are rumored to be exploring a merger.
In the S&P 100, the following stocks led gains:
- Occidental Petroleum (OXY, Financial) 16.88%
- Boeing (BA, Financial) 16.10%
- Halliburton (HAL, Financial) 13.50%
- Simon Property Group (SPG, Financial) 9.14%
- American International Group (AIG, Financial) 8.47%
- General Electric (GE, Financial) 8.01%
- Walgreens Boots Alliance (WBA, Financial) 3.95%
- Kraft Heinz (KHC, Financial) 3.74%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,536.89 for a gain of 29.74 points or 1.97%. The S&P 600 closed at 917.81 for a gain of 18.48 points or 2.05%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,446.00 for a gain of 173.07 points or 1.68%. The Dow Jones U.S. Small-Cap Value Index closed at 8,048.35 for a gain of 302.79 points or 3.91%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,946.21 for a gain of 35.06 points or 1.83%; the S&P 100 at 1,464.58 for a gain of 16.25 points or 1.12%; the Nasdaq 100 at 9,901.52 for a gain of 77.13 points or 0.79%; the Russell 3000 at 1,889.67 for a gain of 25.45 points or 1.37%; the Russell 1000 at 1,791.38 for a gain of 23.44 points or 1.33%; the Wilshire 5000 at 32,998.62 for a gain of 453.97 points or 1.39%; and the Dow Jones U.S. Select Dividend Index at 652.67 for a gain of 16.82 points or 2.65%.
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