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Julie Young
Julie Young
Articles (1452) 

US Indexes Close Higher Monday

S&P 500 gains 1.20%, Nasdaq Closes at Record High

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%.

Mondays 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 Fridays 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 CMEs 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:

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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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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