The Dow Jones Industrial Average closed at 28,430.05 on Monday with a loss of 223.82 points or -0.78%. The S&P 500 closed at 3,500.31 for a loss of 7.70 points or -0.22%. The Nasdaq Composite closed at 11,775.46 for a gain of 79.82 points or 0.68%. The VIX Volatility Index was higher at 26.41 for a gain of 3.45 points or 15.03%.
For the month, the Nasdaq gained 9.6%, the Dow Jones gained 7.6% and the S&P 500 gained 7.0%. For the year, the Nasdaq has a gain of 31.24%, the S&P 500 has a gain of 8.34% and the Dow Jones is up 0.40%.
Monday's market movers
U.S. indexes ended mostly lower on the last trading day of August. The S&P 500 and Dow Jones still managed to report their best August gains since 1984. The Nasdaq gained for the day, posting its 41st record close in 2020 and its best August since 2000.
Stock highlights included:
- Apple (AAPL, Financial) gained 3.39% and Tesla (TSLA, Financial) gained 12.57%, with their stock splits taking effect Monday.
- Honeywell (HON, Financial), Salesforce (CRM, Financial) and Amgen (AMGN, Financial) joined the Dow Jones.
- Zoom Video Communications (ZM, Financial) reported earnings. Revenue of $663.5 million increased 355.0% year over year and beat estimates by $163.13 million. Second-quarter GAAP earnings of 63 cents per share beat estimates by 26 cents and non-GAAP earnngs of 92 cents beat estimates by 47 cents.
- PayPal (PYPL, Financial) announced a new "Pay in 4" option for interest-free installment payments.
- Amazon (AMZN, Financial) gained 1.45% after clearance for drone aircrafts to be used in deliveries.
Economic reports on the calendar for the day included the following:
- The Dallas Fed Manufacturing Index increased to 8.0 in August from -3.0.
- The Treasury held auctions for three-month bills at a rate of 0.105% and six-month bills at a rate of 0.115%.
Across sectors, biotech and utilities led gains. In the S&P 500, the following stocks led gains and losses:
- Alexion Pharmaceuticals (ALXN, Financial) +6.76%
- Advanced Micro Devices (AMD, Financial) +6.16%
- Hollyfrontier Corporation (HFC, Financial) -7.55%
- MGM Resorts International (MGM) -5.74%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,561.88 for a loss of 16.47 points or -1.04%. The S&P 600 closed at 898.79 for a loss of 13.23 points or -1.45%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,962.01 for a loss of 60.34 points or -0.55%. The Dow Jones U.S. Small-Cap Value Index closed at 7,233.15 for a loss of 138.76 points or -1.88%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,926.54 for a loss of 19.97 points or -1.03%; the S&P 100 at 1,638.94 for a loss of 1.84 points or -0.11%; the Nasdaq 100 at 12,110.70 for a gain of 114.84 points or 0.96%; the Russell 3000 at 2,045.01 for a loss of 2.79 points or -0.14%; the Russell 1000 at 1,946.15 for a loss of 1.62 points or -0.083%; the Wilshire 5000 at 35,752.21 for a loss of 47.44 points or -0.13%; and the Dow Jones U.S. Select Dividend Index at 602.02 for a loss of 7.29 points or -1.20%.
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