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Julie Young
Julie Young
Articles (1523) 

US Indexes Close Lower Monday

Nasdaq down -1.65%

The Dow Jones Industrial Average closed at 28,195.42 on Monday with a loss of 410.89 points or -1.44%. The S&P 500 closed at 3,426.92 for a loss of 56.89 points or -1.63%. The Nasdaq Composite closed at 11,478.88 for a loss of 192.67 points or -1.65%. The VIX Volatility Index was higher at 29.18 for a gain of 1.77 points or 6.46%.

Monday's Market Movers

U.S. indexes closed the day lower, led by losses from the energy sector. Investors were looking to China where gross domestic product data showed a 4.9% increase year over year. China's Ant Financial is also nearing a potential initial public offering that could be the world's largest ever.

In the U.S., concerns continued over rising Coronavirus cases. Investors were also watching stimulus negotiations, which have a Tuesday target.

In other news:

  • IBM (NYSE:IBM) reported earnings. Revenue was $17.56 billion, decreasing -2.6% year over year and inline with estimates. Q3 GAAP EPS of $1.89 missed estimates by $0.19 and non-GAAP EPS of $2.58 was in line with estimates.
  • ConocoPhillips (NYSE:COP) announced an acquisition deal with Concho Resources (NYSE:CXO).
  • Fed Chairman Jerome Powell spoke on digital currency at an International Monetary Fund event.
  • The NAHB Housing Market Index increased to 85 in October from 83.
  • The Treasury held auctions for three-month bills at a rate of 0.100% and six-month bills at a rate of 0.115%

Across the board, the following stocks led losses and gains:

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,613.63 for a loss of 20.18 points or -1.24%. The S&P 600 closed at 913.09 for a loss of 10.62 points or -1.15%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,439.18 for a loss of 139.25 points or -1.20%. The Dow Jones U.S. Small-Cap Value Index closed at 7,239.55 for a loss of 85.77 points or -1.17%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 913.09 for a loss of 10.62 points or -1.15%; the S&P 100 at 1,582.32 for a loss of 28.44 points or -1.77%; the Nasdaq 100 at 11,634.35 for a loss of 217.82 points or -1.84%; the Russell 3000 at 2,019.51 for a loss of 31.54 points or -1.54%; the Russell 1000 at 1,916.71 for a loss of 30.31 points or -1.56%; the Wilshire 5000 at 35,213.57 for a loss of 558.68 points or -1.56%; and the Dow Jones US Select Dividend Index at 611.86 for a loss of 6.98 points or -1.13%.

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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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