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Julie Young
Julie Young
Articles (1425) 

US Indexes Close With Gains Monday

S&P 500 gains 1.47%

The Dow Jones Industrial Average closed at 25,595.80 on Monday with a gain of 580.25 points or 2.32%. The S&P 500 closed at 3,053.24 for a gain of 44.19 points or 1.47%. The Nasdaq Composite closed at 9,874.15 for a gain of 116.93 points or 1.20%. The VIX Volatility Index was lower at 31.95 for a loss of 2.78 points or -8.00%.

Monday’s market movers

U.S. indexes closed with gains Monday, following a down week. Investors continued to watch coronavirus cases. Globally, cases surpassed 10 million. In the U.S., Florida, Texas, California and Arizona have accounted for most of the resurgence watch. Gilead (NASDAQ:GILD) released some pricing news on its Remdesivir drug for fighting Covid-19. Remdesivir has shown to be effective in clinical trials. The company says it will cost around $3,000 per patient, with the potential to save hospitals thousands of dollars through its effectiveness and treatment reduction time.

Among the FAANGs, investors were watching a boycott of ads on Facebook (NASDAQ:FB) as a proactive action for social justice. Facebook fell nearly 10% in recent trading after several advertisers reported they would be pulling their ads.

In other news:

  • Pending home sales increased 44.3% in May and decreased 5.1% year over year.
  • The Dallas Fed Manufacturing Index improved to -6.1 from -49.2.
  • The Treasury held auctions for three-month bills at a rate of 0.150% and six-month bills at a rate of 0.165%.
  • Chesapeake Energy (CHK) is filing for bankruptcy
  • The Supreme Court has ordered changes to the structuring of the Consumer Financial Protection Bureau.
  • India has blocked some Chinese apps after the two countries’ recent fighting at the border.

In the S&P 500, industrials and materials led gains. In the S&P 100, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,421.21 for a gain of 42.43 points or 3.08%. The S&P 600 closed at 820.26 for a gain of 31.57 points or 4.00%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,824.41 for a gain of 210.10 points or 2.19%. The Dow Jones U.S. Small-Cap Value Index closed at 6,833.98 for a gain of 251.91 points or 3.83%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,760.01 for a gain of 40.69 points or 2.37%; the S&P 100 at 1,405.90 for a gain of 19.85 points or 1.43%; the Nasdaq 100 at 9,961.16 for a gain of 111.81 points or 1.14%; the Russell 3000 at 1,781.50 for a gain of 26.63 points or 1.52%; the Russell 1000 at 1,690.99 for a gain of 23.73 points or 1.42%; the Wilshire 5000 at 31,131.95 for a gain of 475.37 points or 1.55%; and the Dow Jones U.S. Select Dividend Index at 570.30 for a gain of 13.18 points or 2.37%.

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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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