The Dow Jones Industrial Average closed at 28,148.64 on Monday with a gain of 465.83 points or 1.68%. The S&P 500 closed at 3,408.63 for a gain of 60.19 points or 1.80%. The Nasdaq Composite closed at 11,332.49 for a gain of 257.47 points or 2.32%. The VIX Volatility Index was higher at 27.96 for a gain of 0.33 points or 1.19%.
Monday's Market Movers
Tech stocks led gains for the U.S. indexes Monday. The Nasdaq closed with a gain of 2.32%. The Nasdaq Biotech Index gained 4.26%, led by Myokardia (MYOK, Financial), which was up 57.84% after news of an acquisition by Bristol Myers Squibb (BMY, Financial). Gilead (GILD, Financial) gained 2.3% as reports showed President Trump taking the company's Remdesivir along with several other drugs for his treatment.
Economic reports affecting market trading included the following:
- The Markit Composite PMI decreased to 54.3 in September from 54.6.
- The ISM Non-Manufacturing PMI increased to 57.8 in September from 56.9. Separately, the ISM Non-Manufacturing Business Activity Index increased to 63.0 from 62.4, the ISM Non-Manufacturing Prices Index decreased to 59 from 64.2, the ISM Non-Manufacturing New Orders Index increased to 61.5 from 56.8 and the ISM Non-Manufacturing Employment Index increased to 51.8 from 47.9.
- The Treasury held auctions for three-month bills at a rate of 0.095% and six-month bills at a rate of 0.110%.
In the S&P 500, the following stocks led gains:
- Regeneron Pharmaceuticals (REGN, Financial) 7.13%
- United Rentals (URI, Financial) 6.85%
- Occidental Petroleum (OXY, Financial) 6.48%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,581.96 for a gain of 42.67 points or 2.77%. The S&P 600 closed at 896.44 for a gain of 19.86 points or 2.27%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,119.32 for a gain of 293.79 points or 2.71%. The Dow Jones U.S. Small-Cap Value Index closed at 7,186.47 for a gain of 162.75 points or 2.32%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,945.96 for a gain of 43.17 points or 2.27%; the S&P 100 at 1,575.55 for a gain of 28.47 points or 1.84%; the Nasdaq 100 at 11,509.06 for a gain of 253.37 points or 2.25%; the Russell 3000 at 2,003.32 for a gain of 36.95 points or 1.88%; the Russell 1000 at 1,902.72 for a gain of 34.10 points or 1.82%; the Wilshire 5000 at 34,972.48 for a gain of 641.43 points or 1.87%; and the Dow Jones US Select Dividend Index at 603.99 for a gain of 12.27 points or 2.07%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
