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Julie Young
Julie Young
Articles (1447) 

US Indexes Close Higher Monday, Following China Rally

S&P 500 gains 1.59%

The Dow Jones Industrial Average closed at 26,287.03 on Monday with a gain of 459.67 points or 1.78%. The S&P 500 closed at 3,179.72 for a gain of 49.71 points or 1.59%. The Nasdaq Composite closed at 10,433.65 for a gain of 226.02 points or 2.21%. The VIX Volatility Index was higher at 27.91 for a gain of 0.23 points or 0.83%.

Monday’s market movers

U.S. indexes closed higher Monday. U.S. stocks followed a wave of gains from China. In China, an editorial in the China Securities Journal spurred buying, along with some positive statistics for the outlook on the Chinese economy.

In the U.S., the country is looking well positioned to avoid a second round shutdown from the coronavirus. In New York City, the city began its third phase of reopening on Monday.

In other news:

  • Uber (NYSE:UBER) bought Postmates for $2.65 billion.
  • The Markit Composite PMI improved to 47.9 in June from 37.
  • The ISM Non-Manufacturing PMI increased to 57.1 in June from 45.4. Separately, the ISM Non-Manufacturing Business Activity Index increased to 66.0 from 41. The ISM Non-Manufacturing Prices Index increased to 62.4 from 55.6. The ISM Non-Manufacturing New Orders Index increased to 61.6 from 41.9. The ISM Non-Manufacturing Employment Index increased to 43.1 from 31.8.
  • The Treasury held auctions for three-month bills at a rate of 0.150% and six-month bills at a rate of 0.165%.
  • Total vehicle sales for June were 13.1 million seasonally adjusted, on target with the annual consensus rate of 13.0 million.

Sectors leading gains for the day included semiconductors and consumer discretionary. In the S&P 100, the following stocks led gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,442.88 for a gain of 11.02 points or 0.77%. The S&P 600 closed at 831.89 for a gain of 7.94 points or 0.96%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,066.76 for a gain of 86.54 points or 0.87%. The Dow Jones U.S. Small-Cap Value Index closed at 6,856.68 for a gain of 66.86 points or 0.98%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,797.36 for a gain of 18.41 points or 1.03%; the S&P 100 at 1,470.63 for a gain of 27.68 points or 1.92%; the Nasdaq 100 at 10,604.06 for a gain of 262.17 points or 2.53%; the Russell 3000 at 1,854.50 for a gain of 28.52 points or 1.56%; the Russell 1000 at 1,762.93 for a gain of 27.93 points or 1.61%; the Wilshire 5000 at 32,408.94 for a gain of 509.20 points or 1.60%; and the Dow Jones U.S. Select Dividend Index at 579.90 for a gain of 3.61 points or 0.63%.

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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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