The Dow Jones Industrial Average closed at 26,085.80 on Monday with a gain of 10.50 points or 0.04%. The S&P 500 closed at 3,155.22 for a loss of 29.82 points or -0.94%. The Nasdaq Composite closed at 10,390.84 for a loss of 226.60 points or -2.13%. The VIX Volatility Index was higher at 32.19 for a gain of 4.90 points or 17.96%.
Monday’s market movers
U.S. stocks ended lower Monday, after starting the day with a tech sector rally and optimism over second-quarter earnings releases. News from California changed the market’s momentum in afternoon trading. The state announced indoor service for bars, restaurants and movie theaters must close. Los Angeles and San Diego also said their schools would start the new year online.
Data across the country added to the coronavirus concerns. Total U.S. cases increased to over 3.3 million. The death toll exceeded 135,000. Thirty-two states have also shown coronavirus case increases of 10% or more over the past week. On a positive note, Pfizer and BioNTech (BNTX) announced they have received a “fast track” designation from the Food and Drug Administration for vaccine drugs with good potential to fight the coronavirus.
In other news:
- Coronavirus aid has pushed the federal deficit over $3 trillion for the trailing 12 months. The Treasury’s budget for June showed a deficit of $864 billion.
- The New York Fed's June 2020 Survey of Consumer Expectations showed the consumer inflation expectation decreasing to 2.68% from 3%.
- The Treasury held auctions for three-month bills at a rate of 0.145% and six-month bills at a rate of 0.145%.
Across sectors, health care gained. The energy sector was lower ahead of a OPEC+ meeting Wednesday to discuss halting some production cuts. In the S&P 100, the following stocks led losses and gains:
- Nvidia (NVDA, Financial) -4.13%
- Netflix (NFLX, Financial) -3.91%
- PayPal (PYPL, Financial) -3.67%
- Occidental Petroleum (OXY, Financial) -3.29%
- Amazon (AMZN, Financial) -3.17%
- Microsoft (MSFT, Financial) -3.11%
- Disney (DIS, Financial) -2.62%
- Facebook (FB, Financial) -2.46%
- Pfizer (PFE, Financial) +4.33%
- UnitedHealth (UNH, Financial) +3.04%
- Medtronic (MDT, Financial) +2.16%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,403.57 for a loss of 19.11 points or -1.34%. The S&P 600 closed at 809.47 for a loss of 7.90 points or -0.97%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,822.01 for a loss of 184.80 points or -1.85%. The Dow Jones U.S. Small-Cap Value Index closed at 6,668.38 for a loss of 16.34 points or -0.24%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,754.40 for a loss of 18.58 points or -1.05%; the S&P 100 at 1,466.64 for a loss of 15.32 points or -1.03%; the Nasdaq 100 at 10,602.21 for a loss of 234.12 points or -2.16%; the Russell 3000 at 1,836.85 for a loss of 21.25 points or -1.14%; the Russell 1000 at 1,748.01 for a loss of 20.01 points or -1.13%; the Wilshire 5000 at 32,117.05 for a loss of 356.35 points or -1.10%; and the Dow Jones U.S. Select Dividend Index at 574.51 for a gain of 2.32 points or 0.41%.
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