The Dow Jones Industrial Average closed at 33,876.97 on Monday with a gain of 586.89 points or 1.76%. The S&P 500 closed at 4,224.79 for a gain of 58.34 points or 1.40%. The Nasdaq Composite closed at 14,141.48 for a gain of 111.10 points or 0.79%. The VIX Volatility Index was lower at 17.89 for a loss of 2.81 points or -13.57%.
Monday’s Market Movers
U.S. stocks gained on Monday and the major indexes closed higher. The Nasdaq reported a record close. In technology, biotech led the sub-sector gains. Top tech gainers for the day included:
- Moderna (MRNA, Financial) 4.54%
- Tetralogic Pharmaceuticals (TLOG, Financial) 56.25%
- Roku (ROKU, Financial) 3.88%
- Microsoft (MSFT, Financial) gained 1.23% ahead of June 24 Windows event
Investors also moved past last week’s Fed news and looked to COVID indicators. Daily COVID cases have continued to fall and most states have lifted the majority of their restrictions. Oil prices and energy stocks were higher for the day. The S&P 500 energy sector gained 4.26%.
Later this week investors will be watching antitrust actions against large cap tech and stress test results. The S&P 500 financials sector ETF gained 2.33% Monday.
In other news:
- The Chicago Fed National Activity Index increased to 0.29 in May from -0.09.
- The Treasury held auctions for 3-month bills at a rate of 0.045% and 6-month bills at a rate of 0.055%.
- The 10-year Treasury ended with a yield of 1.497%.
- Amazon (AMZN, Financial) began its Prime Day and reported a loss of -0.94%.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,286.09 for a gain of 48.35 points or 2.16%. The S&P 600 closed at 1,360.88 for a gain of 30.21 points or 2.27%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,139.47 for a gain of 246.66 points or 1.66%. The Dow Jones U.S. Small-Cap Value Index closed at 11,270.43 for a gain of 299.36 points or 2.73%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,671.85 for a gain of 59.91 points or 2.29%; the S&P 100 at 1,928.24 for a gain of 22.16 points or 1.16%; the Nasdaq 100 at 14,137.23 for a gain of 87.64 points or 0.62%; the Russell 3000 at 2,527.91 for a gain of 35.55 points or 1.43%; the Russell 1000 at 2,379.78 for a gain of 32.26 points or 1.37%; the Wilshire 5000 at 44,236.42 for a gain of 614.49 points or 1.41%; and the Dow Jones US Select Dividend Index at 835.93 for a gain of 17.49 points or 2.14%.
