The Dow Jones Industrial Average closed at 26,584.77 on Monday with a gain of 114.88 points or 0.43%. The S&P 500 closed at 3,239.41 for a gain of 23.78 points or 0.74%. The Nasdaq Composite closed at 10,536.27 for a gain of 173.09 points or 1.67%. The VIX Volatility Index was lower at 24.79 for a loss of 1.05 points or -4.06%.
Monday’s market movers
U.S. indexes closed higher Monday after two days of closing losses. The Nasdaq regained 1.67%. On Capital Hill, lawmakers continued to negotiate a second round of stimulus measures. Officials have reported another $1,200 payment will likely be coming in August.
Despite the gains, investors were still somewhat cautious ahead of several headlines later in the week. The Federal Open Market Committee begins a two-day policy meeting tomorrow. The House of Representatives has rescheduled their antitrust hearing to speak with tech companies to Wednesday. Apple, Amazon (AMZN) and Alphabet (GOOG)(GOOGL) are announcing earnings later this week. On Thursday, the Commerce Department announces gross domestic product.
In other news:
- Gold traded higher, ending the day at $1,939.
- Moderna (MRNA, Financial) gained 9.15% after positive announcements involving its coronavirus drug.
- Durable goods orders increased 7.3% in June following an increase of 15.1%. Durable goods orders excluding transportation increased 3.3% and durable goods orders excluding defense increased 9.2%.
- The Dallas Fed Manufacturing Index improved to -3.0 in July from -6.1.
- The Treasury held auctions for six-month bills at a rate of 0.130%, three-month bills at a rate of 0.105%, two-year notes at a rate of 0.155% and five-year notes at a rate of 0.288%.
Across sectors, semiconductors and biotech led gains. In the S&P 100, the following stocks led gains:
- Biogen (BIIB, Financial) 5.09%
- Qualcomm (QCOM, Financial) 4.29%
- FedEx (FDX, Financial) 3.53%
- Netflix (NFLX, Financial) 3.16%
- PayPal (PYPL, Financial) 3.14%
- Apple (AAPL, Financial) 2.37%
- Merck (MRK, Financial) 2.37%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,484.17 for a gain of 16.61 points or 1.13%. The S&P 600 closed at 861.83 for a gain of 10.24 points or 1.20%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,431.35 for a gain of 154.71 points or 1.51%. The Dow Jones U.S. Small-Cap Value Index closed at 6,995.27 for a gain of 7.43 points or 0.11%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,867.27 for a gain of 17.33 points or 0.94%; the S&P 100 at 1,486.15 for a gain of 12.03 points or 0.82%; the Nasdaq 100 at 10,674.38 for a gain of 191.24 points or 1.82%; the Russell 3000 at 1,893.14 for a gain of 16.10 points or 0.86%; the Russell 1000 at 1,798.81 for a gain of 14.97 points or 0.84%; the Wilshire 5000 at 33,058.99 for a gain of 274.52 points or 0.84%; and the Dow Jones U.S. Select Dividend Index at 597.39 for a loss of 2.35 points or -0.39%.
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