The Dow Jones Industrial Average closed at 34,077.63 on Monday with a loss of 123.04 points or -0.36%. The S&P 500 closed at 4,163.26 for a loss of 22.21 points or -0.53%. The Nasdaq Composite closed at 13,914.77 for a loss of 137.58 points or -0.98%. The VIX Volatility Index was higher at 17.29 for a gain of 1.04 points or 6.40%.
Monday's market movers
U.S. stocks ended lower Monday after indexes reported new highs Friday. Coinbase (COIN, Financial) was down 2.63% Monday after its debut last week. Cryptocurrencies also reported a selloff over the weekend with volatility on Monday.
The iShares PHLX Semiconductor ETF (SOXX, Financial) led sector losses, down 2.63%. Investors are looking for more insights on the semiconductor market from Intel's (INTC, Financial) earnings later this week.
The iShares Nasdaq Biotechnology ETF (IBB, Financial) was down 1.10%. On the vaccine front, Johnson and Johnson's (JNJ) vaccine remained paused. However, Anthony Fauci commented that he believes the vaccine's use will be resumed this week. Pfizer (PFE, Financial) gained 0.95% on reports that it will be increasing its vaccine supply to Japan and the European Union, while also being one of two currently available vaccine suppliers for the U.S.
On the earnings calendar Monday:
- IBM (IBM, Financial) reported earnings after the closing bell, with a gain of approximately 2.0% in after-hours trading. Revenue of $17.7 billion increased 0.7% year over year and beat estimates by $390 million. First-quarter GAAP EPS of $1.06 missed estimates by 2 cents and non-GAAP EPS of $1.77 beat estimates by 12 cents.
- Coca-Cola (KO, Financial): Revenue of $9 billion increased 4.7% year over year and beat estimates by $370 million. First-quarter GAAP EPS of 52 cents beat estimates by 2 cents and non-GAAP EPS of 55 cents beat estimates by 5 cents.
- United Airlines (UAL, Financial): Revenue of $3.22 billion decreased 59.6% year over year and missed estimates by $30 million. First-quarter GAAP EPS of -$4.29 beat estimates by 71 cents and non-GAAP EPS of -$7.50 missed estimates by 45 cents.
In other news:
- Approximately 200 companies will report earnings this week, including around 10% of S&P 500 companies.
- The Treasury held auctions for three-month bills at a rate of 0.025% and six-month bills at a rate of 0.040%.
- Peloton (PTON, Financial) was down 7.28% with Tread+ issues.
- Apple gained 0.58% on speculation over new tech release announcements at a spring event April 20.
- Tesla (TSLA, Financial) was down 3.40% after a car crashed in Texas.
- The yield on the 30-year Treasury increased slightly from 2.28% to 2.29%. The yield on the 10-year Treasury increased from 1.59% to 1.60%.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,232.00 for a loss of 30.67 points or -1.36%. The S&P 600 closed at 1,333.40 for a loss of 14.55 points or -1.08%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,805.65 for a loss of 230.50 points or -1.53%. The Dow Jones U.S. Small-Cap Value Index closed at 11,095.10 for a loss of 60.56 points or -0.54%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,704.18 for a loss of 16.90 points or -0.62%; the S&P 100 at 1,899.05 for a loss of 9.81 points or -0.51%; the Nasdaq 100 at 13,907.67 for a loss of 134.24 points or -0.96%; the Russell 3000 at 2,490.62 for a loss of 16.05 points or -0.64%; the Russell 1000 at 2,346.20 for a loss of 13.89 points or -0.59%; the Wilshire 5000 at 43,527.05 for a loss of 271.46 points or -0.62%; and the Dow Jones U.S. Select Dividend Index at 838.75 for a loss of 4.16 points or -0.49%.
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