The Dow Jones Industrial Average closed at 27,685.38 on Monday with a loss of 650.19 points or -2.29%. The S&P 500 closed at 3,400.97 for a loss of 64.42 points or -1.86%. The Nasdaq Composite closed at 11,358.94 for a loss of 189.34 points of -1.64%. The VIX Volatility Index was higher at 32.46 for a gain of 4.91 points or 17.82%.
Monday's Market Movers
U.S. indexes closed lower Monday with a surge in Coronavirus cases. Investors were concerned over a second wave, no vaccine available yet and no major stimulus developments.
This week will be the busiest week for third quarter earnings reports. Apple (AAPL, Financial), Facebook (FB, Financial) and Alphabet (GOOG, Financial)(GOOGL, Financial) will lead the headlines. Microsoft (MSFT, Financial), Twitter (TWTR, Financial), Amazon (AMZN, Financial), Exxon (XOM, Financial) and Chevron (CVX, Financial) will also report.
Economic reports affecting market trading Monday included the following:
- The Chicago Fed National Activity Index decreased to 0.27 in September from 1.11.
- New home sales decreased -3.5% in September to a seasonally adjusted annual rate of 0.959 million.
- The Dallas Fed Manufacturing Index increased to 19.8 in October from 13.6.
- The Treasury held auctions for three-month bills at a rate of 0.100% and six-month bills at a rate of 0.110%.
Across the board:
- All major sectors were lower
- Energy led losses as hurricane weather heads toward the Gulf of Mexico
- The Nasdaq Biotech Index was down -1.01%
- Quidel Corporation (QDEL, Financial) gained 6.13%
- Dunkin Brands Group (DNKN) gained 16.12% after talks of going private
- Tilray (TLRY) was down -12.93%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,605.21 for a loss of 35.29 points or -2.15%. The S&P 600 closed at 913.96 for a loss of 19.76 points or -2.12%. The Dow Jones U.S. Small-Cap Growth Index closed at 11,258.47 for a loss of 238.00 points or -2.07%. The Dow Jones U.S. Small-Cap Value Index closed at 7,339.60 for a loss of 174.95 points or -2.33%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,973.88 for a loss of -41.77 points or -2.07%; the S&P 100 at 1,568.65 for a loss of -28.09 points or -1.76%; the Nasdaq 100 at 11,504.52 for a loss of -188.05 points or -1.61%; the Russell 3000 at 2,002.74 for a loss of -38.15 points or -1.87%; the Russell 1000 at 1,900.42 for a loss of -35.85 points or -1.85%; the Wilshire 5000 at 34,954.48 for a loss of -655.09 points or -1.84%; and the Dow Jones US Select Dividend Index at 615.56 for a loss of -12.06 points or -1.92%.
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