The Dow Jones Industrial Average closed at 33,171.37 on Monday with a gain of 98.49 points or 0.30%. The S&P 500 closed at 3,971.09 for a loss of 3.45 points or -0.09%. The Nasdaq Composite closed at 13,059.65 for a loss of 79.08 points or -0.60%. The VIX Volatility Index was higher at 20.74 for a gain of 1.88 points or 9.97%.
Monday's market movers
U.S. stocks ended mostly lower Monday to start a shortened four-day holiday week. Investors were concerned over losses from Archegos Capital. The firm has reportedly liquidated approximately $30 billion to cover margin calls. Stocks with selling pressure included ViacomCBS (VIAC, Financial), Discovery (DISCA, Financial) and several Chinese internet American depositary receipts. The S&P 500 financial sector was down 0.87% Monday as the liquidation efforts affected several financial companies.
In other news:
- Ship freed from Suez Canal, allowing transport traffic renewal.
- New York is offering Covid-19 vaccines for residents 30 and older.
- The Dallas Fed Manufacturing Index increased to 28.9 in March from 17.2.
- The Treasury held auctions for three-month bills at a rate of 0.020% and six-month bills at a rate of 0.040%.
Across the board:
- SeaChange International (SEAC, Financial) up 101.94%.
- Facebook (FB, Financial) up 2.76% on improved ad sales.
- Twitter (TWTR, Financial) up 2.74%.
- Boeing (BA, Financial) up 2.26%.
- Amazon (AMZN, Financial) up 0.78% after report that subsidiary STS Lab Holdco has been given emergency use authorization by the Food and Drug Administration for a Covid-19 test. Also, Alabama is voting on a first Amazon union.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,158.68 for a loss of 62.80 points or -2.83%. The S&P 600 closed at 1,296.80 for a loss of 34.46 points or -2.59%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,184.25 for a loss of 393.50 points or -2.70%. The Dow Jones U.S. Small-Cap Value Index closed at 10,757.02 for a loss of 246.56 points or -2.24%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,579.23 for a loss of 47.34 points or -1.80%; the S&P 100 at 1,801.01 for a gain of 2.91 points or 0.16%; the Nasdaq 100 at 12,965.74 for a loss of 13.38 points or -0.10%; the Russell 3000 at 2,373.02 for a loss of 10.28 points or -0.43%; the Russell 1000 at 2,233.01 for a loss of 5.65 points or -0.25%; the Wilshire 5000 at 41,453.57 for a loss of 167.26 points or -0.40%; and the Dow Jones U.S. Select Dividend Index at 818.13 for a loss of 2.72 points or -0.33%.
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