The Dow Jones Industrial Average closed at 29,591.27 on Monday with a gain of 327.79 points or 1.12%. The S&P 500 closed at 3,577.59 for a gain of 20.05 points or 0.56%. The Nasdaq Composite closed at 11,880.63 for a gain of 25.66 points or 0.22%. The VIX Volatility Index was lower at 22.66 for a loss of 1.04 points or -4.39%.
Monday's Market Movers
The major U.S. indexes ended higher on Monday as investors were optimistic about Covid-19 vaccinations and holiday spending.
The Food and Drug Administration has planned a Dec. 10 meeting on Pfizer's vaccine authorization. AstraZeneca (AZN, Financial) announced that its vaccine trial shows 90% efficacy. Regeneron Pharmaceuticals (REGN, Financial) has also received emergency authorization for a Covid-19 drug treatment to treat high risk, unhospitalized patients.
The National Retail Federation released positive forecasts on retail. Holiday retail sales are expected to increase 5.2% from a year ago. Online holiday retail sales could see a 30% increase.
On the economic calendar Monday:
- The Chicago Fed National Activity Index increased to 0.83 in October from 0.32.
- The Markit Composite PMI increased to 57.9 in November from 56.3. Separately, the Markit Manufacturing PMI increased to 56.7 from 53.4 and the Markit Services PMI increased to 57.7 from 56.9.
- The Treasury held auctions for two-year notes at a rate of 0.165%, six-month bills at a rate of 0.090%, three-month bills at a rate of 0.085% and five-year notes at a rate of 0.397%.
Across the board:
- The S&P 500 energy sector gained 7.07%
- SM Energy (SM, Financial) was up 13.54%
- Coty (COTY, Financial) was up 13.39%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,818.30 for a gain of 32.96 points or 1.85%. The S&P 600 closed at 1,043.03 for a gain of 22.80 points or 2.23%. The Dow Jones U.S. Small-Cap Growth Index closed at 12,561.89 for a gain of 189.18 points or 1.53%. The Dow Jones U.S. Small-Cap Value Index closed at 8,507.74 for a gain of 220.47 points or 2.66%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,181.60 for a gain of 33.99 points or 1.58%; the S&P 100 at 1,634.28 for a gain of 5.93 points or 0.36%; the Nasdaq 100 at 11,905.94 for a loss of 0.50 points or -0.0042%; the Russell 3000 at 2,127.20 for a gain of 16.29 points or 0.77%; the Russell 1000 at 2,010.16 for a gain of 14.00 points or 0.70%; the Wilshire 5000 at 37,138.46 for a gain of 277.82 points or 0.75%; and the Dow Jones US Select Dividend Index at 672.25 for a gain of 13.75 points or 2.09%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
