The Dow Jones Industrial Average closed at 34,630.24 on Monday with a loss of 126.15 points or -0.36%. The S&P 500 closed at 4,226.52 for a loss of 3.37 points or -0.08%. The Nasdaq Composite closed at 13,881.72 for a gain of 67.23 points or 0.49%. The VIX Volatility Index was unchanged at 16.42.
Monday's Market Movers
U.S. stocks closed with mixed returns Monday. Biotech led sector gains with the iShares Nasdaq Biotechnology ETF (IBB, Financial) up 3.44%. Biogen (BIIB, Financial) gained 38.34% after announcing its newly approved drug for Alzheimer's. Moderna (MRNA, Financial) was also a top gainer for the day in biotech with a return of 6.55%.
The G7 nations agreed to a global minimum tax rate of 15%. Later this week investors will be watching for the Consumer Price Index as the spotlight continues to remain on inflation, particularly ahead of the Federal Reserve's June meeting next week.
In other news:
- U.S. officials have retrieved much of the crypto ransom paid by Colonial Pipeline.
- The Treasury held auctions for 3-month bills at a rate of 0.025% and 6-month bills at a rate of 0.040%.
- Consumer credit outstanding increased by $18.61 billion in April following an increase of $18.58 billion.
- Tesla (TSLA) gained 1.01% after Elon Musk tweeted that the company is canceling the Model S Plaid+ in favor of a focus on the Plaid.
- Google (GOOG, Financial)(GOOGL, Financial) gained 0.58% on news of an anti-trust regulator fine in France for approximately $268 million.
- Apple (AAPL, Financial) began its Worldwide Developer Conference Monday.
- The Materials Select Sector SPDR Fund (XLB, Financial) led sector losses for the day with a return of -1.22%.
- Airbus (EADSY, Financial) 1.19% on news of May deliveries.
- Facebook (FB, Financial) gained 1.89% despite news of a fine from Austria.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,319.18 for a gain of 32.76 points or 1.43%. The S&P 600 closed at 1,397.56 for a gain of 13.76 points or 0.99%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,083.16 for a gain of 227.77 points or 1.53%. The Dow Jones U.S. Small-Cap Value Index closed at 11,730.70 for a gain of 72.09 points or 0.62%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,726.13 for a loss of 2.54 points or -0.093%; the S&P 100 at 1,917.81 for a gain of 2.08 points or 0.11%; the Nasdaq 100 at 13,802.89 for a gain of 32.12 points or 0.23%; the Russell 3000 at 2,527.77 for a gain of 2.62 points or 0.10%; the Russell 1000 at 2,377.17 for a gain of 0.20 points or 0.0084%; the Wilshire 5000 at 44,237.13 for a gain of 49.08 points or 0.11%; and the Dow Jones US Select Dividend Index at 869.32 for a loss of 1.74 points or -0.20%.