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Julie Young
Julie Young
Articles (1588) 

US Stocks Close Mostly Lower Monday

Nasdaq down 2.46%

The Dow Jones Industrial Average closed at 31,521.69 on Monday with a gain of 27.37 points or 0.09%. The S&P 500 closed at 3,876.50 for a loss of 30.21 points or -0.77%. The Nasdaq Composite closed at 13,533.05 for a loss of 341.41 points or -2.46%. The VIX Volatility Index was higher at 23.45 for a gain of 1.40 points or 6.35%.

Monday's market movers

U.S. stocks closed mostly lower Monday after the S&P 500 ended with a loss of 0.7% last week. Investors were watching rising bond yields, which tempered equity market activity for the day. The 30-year Treasury bond ended the day with an annualized yield of 2.178%.

Earnings later this week include Home Depot (NYSE:HD), Lowe's (NYSE:LOW) and Nvidia (NASDAQ:NVDA). On Monday's earnings calendar:

  • MoneyGram (NASDAQ:MGI): Revenue of $323.3 million decreased 0.1% year over year and missed estimates by $3.36 million. Fourth-quarter GAAP earnings of 8 cents beat estimates by 4 cents and non-GAAP earnings of 12 cents beat estimates by 5 cents.
  • BigCommerce (NASDAQ:BIGC): Revenue of $43.1 million beat estimates by $4.52 million. A fourth-quarter GAAP loss of 21 cents per share missed estimates by 6 cents and a non-GAAP loss of 12 cents beat estimates by 2 cents.

In other news:

  • An IHS Markit report showed electric vehicle market share at record levels.
  • A Gartner report showed Apple topping smartphone sales with help from its iPhone 12 and 5G demand.
  • Daily U.S. coronavirus cases continued to fall and a New York Times report was released suggesting coronavirus herd immunity by July.
  • The Chicago Fed National Activity Index increased to 0.66 in January from 0.41.
  • The Conference Board's Leading Economic Indicators Index increased 0.5% in January following an increase of 0.4%.
  • The Dallas Fed Manufacturing Index increased to 17.2 in February from 7.0.
  • The Treasury held auctions for three-month bills at a rate of 0.030% and six-month bills at a rate of 0.045%.

Across the board:

  • Boeing (NYSE:BA) down 2.11% on 777 engine failure in United plane flying to Denver.
  • GameStop (NYSE:GME) +13.33%
  • People's United Financial (NASDAQ:PBCT) +14.92%
  • American Airlines (NASDAQ:AAL) +9.42%
  • Disney (NYSE:DIS) +4.42%
  • Energy led gains.
  • Cannabis led losses.

Small-cap stocks

In small caps, the Russell 2000 closed at 2,251.07 for a loss of 15.62 points or -0.69%. The S&P 600 closed at 1,296.51 for a gain of 7.74 points or 0.60%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,370.88 for a loss of 274.64 points or -1.76%. The Dow Jones U.S. Small-Cap Value Index closed at 10,359.05 for a gain of 141.43 points or 1.38%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,527.02 for a loss of 8.37 points or -0.33%; the S&P 100 at 1,764.92 for a loss of 17.76 points or -1.00%; the Nasdaq 100 at 13,223.74 for a loss of 357.04 points or -2.63%; the Russell 3000 at 2,347.06 for a loss of 22.08 points or -0.93%; the Russell 1000 at 2,199.81 for a loss of 21.11 points or -0.95%; the Wilshire 5000 at 40,884.88 for a loss of 445.68 points or -1.08%; and the Dow Jones U.S. Select Dividend Index at 760.46 for a gain of 8.28 points or 1.10%.

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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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