The Dow Jones Industrial Average closed at 34,742.82 on Monday with a loss of 34.94 points or -0.10%. The S&P 500 closed at 4,188.43 for a loss of 44.17 points or-1.04%. The Nasdaq Composite closed at 13,401.86 for a loss of 350.38 points or -2.55%. The VIX Volatility Index was higher at 19.66 for a gain of 2.97 points or 17.80%.
Monday's Market Movers
A cyberattack on the largest U.S. fuel pipeline, Colonial Pipeline, sent stocks lower Monday. Colonial Pipeline halted its business in response to the attack. The S&P 500 Energy Select Sector SPDR Fund (XLE, Financial) was up 0.04%.
Semiconductors led the day's losses with the iShares PHLX Semiconductor ETF (SOXX, Financial) down -4.45%. The Biden Administration says it is planning a high-level summit to discuss the current semiconductor shortages. Consumer discretionary was also lower Monday as investors digested Friday's lower than expected April jobs report.
Earnings reports slowed down as investors begin to look to retail stocks to round out the earnings season. Home Depot (HD, Financial) and Lowe's (LOW, Financial) will report next week.
Installment lender Affirm (AFRM, Financial) reported results. Affirm's revenue of $230.67 million increased 66.8% year over year and beat estimates by $32.46 million. Fiscal third quarter GAAP EPS of -$1.06 missed estimates by $0.76.
In other news:
- The Treasury held auctions for 3-month bills at a rate of 0.015% and 6-month bills at a rate of 0.035%.
- Investors were watching dogecoin over the weekend after Elon Musk discussed it on Saturday Night Live. Tesla's SpaceX has also announced that it will accept dogecoin for payment related to its DOGE-1 Mission.
Across the board:
- Pfizer (PFE, Financial) was up 0.71%. The Food and Drug Administration authorized the Pfizer vaccine for 12 to 15 year olds in after hours trading.
- Exxon (XOM, Financial) gained 0.24% with a report that Iraq could buy an Exxon oil field for $350 million.
- Facebook (FB, Financial) stock down -4.11% with warnings for Instagram on its child focused product and reports on controversary Facebook oversight rules.
- Microsoft (MSFT, Financial) down -2.09% as Pentagon reconsiders its $10 billion Jedi Contract which is being challenged by Amazon.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,212.70 for a loss of 58.93 points or -2.59%. The S&P 600 closed at 1,344.46 for a loss of 29.80 points or -2.17%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,326.00 for a loss of 425.50 points or -2.88%. The Dow Jones U.S. Small-Cap Value Index closed at 11,456.98 for a loss of 151.92 points or -1.31%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,737.18 for a loss of 33.09 points or -1.19%; the S&P 100 at 1,895.01 for a loss of 24.27 points or -1.26%; the Nasdaq 100 at 13,359.08 for a loss of 360.55 points or -2.63%; the Russell 3000 at 2,493.54 for a loss of 30.39 points or -1.20%; the Russell 1000 at 2,350.59 for a loss of 26.26 points or -1.10%; the Wilshire 5000 at 43,595.59 for a loss of 540.38 points or -1.22%; and the Dow Jones US Select Dividend Index at 878.38 for a gain of 3.19 points or 0.36%.
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