The Dow Jones Industrial Average closed at 35,625.40 on Monday with a gain of 110.02 points or 0.31%. The S&P 500 closed at 4,479.71 for a gain of 11.71 points or 0.26%. The Nasdaq Composite closed at 14,793.76 for a loss of 29.14 points or -0.20%. The VIX Volatility Index was higher at 16.12 for a gain of 0.67 points or 4.34%.
Monday’s Market Movers
U.S. indexes showed more record highs Monday despite several challenges. The S&P 500 and Dow Jones posted another day of consecutive closing highs.
Globally, investors were watching Afghanistan turmoil and a weak Chinese economic forecast, as well as growing concerns about the spread of Covid. In the U.S., tapering talk uncertainty for the Federal Reserve’s monthly bond purchases also made headlines.
Shares for tech were somewhat mixed as the Nasdaq reported a loss of 0.20% but the Nasdaq 100 gained 0.027%. Sector funds leading gains for the day included the Health Care Select Sector SPDR Fund (XLV) with a gain of 1.11%, the Utilities Select Sector SPDR Fund (XLU, Financial) with a gain of 0.61% and the Consumer Staples Select Sector SPDR Fund (XLP, Financial) with a gain of 0.58%. Leading losses were the KraneShares Electric Vehicles Fund (KARS, Financial) with a loss of 3.23%, the Global X Cannabis ETF (POTX, Financial) with a loss of 2.92%, and the Amplify Transformational Data Sharing ETF (BLOK, Financial) with a loss of 2.30%.
In other news:
- The New York Empire State Manufacturing Index fell to 18.3 from 43 and was also below the market forecast of 32.
- The Treasury held auctions for 3-month bills at a yield of 0.07% and 6-month bills at a yield of 0.05%.
- Net capital flows for June were $31.5 billion, down from $98.2 billion. Foreign bond investment was $10.9 billion, up from -$93.4 billion. Net long-term Treasury international capital flows were $110.9 billion.
Across the board:
- Cal Dive International (CDVIQ, Financial) +66.67%
- GoHealth Inc (GOCO, Financial) +22.11%
- DexCom, Inc. (DXCM, Financial) +3.01%
- UnitedHealth (UNH, Financial) +1.84%
- Roblox (RBLX, Financial) was down 5.23% ahead of an after-hours earnings release. Second quarter revenue increased 127% year over year. Q2 GAAP EPS of -$0.25 missed estimates by $0.15.
- Pfizer (PFE, Financial) shares were up 0.87% with a data release on the Covid-19 vaccine booster.
- Enlivex Therapeutics (ENLV, Financial) gained 12.98% with news they are starting a Phase 2b clinical trial for treatment of severe Covid-19 patients.
- The 10-year Treasury ended with a yield of 1.268%.
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,203.41 for a loss of 19.69 points or -0.89%. The S&P 600 closed at 1,343.09 for a loss of 6.82 points or -0.51%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,760.16 for a loss of 126.36 points or -0.85%. The Dow Jones U.S. Small-Cap Value Index closed at 11,095.66 for a loss of 80.93 points or -0.72%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,724.79 for a loss of 6.67 points or -0.24%; the S&P 100 at 2,056.39 for a gain of 6.86 points or 0.33%; the Nasdaq 100 at 15,140.77 for a gain of 4.09 points or 0.027%; the Russell 3000 at 2,649.95 for a gain of 1.65 points or 0.062%; the Russell 1000 at 2,509.43 for a gain of 3.17 points or 0.13%; the Wilshire 5000 at 46,461.54 for a gain of 34.72 points or 0.075%; and the Dow Jones US Select Dividend Index at 851.58 for a loss of 0.50 points or -0.059%.
