The Dow Jones Industrial Average closed at 36,432.22 on Monday with a gain of 104.27 points or 0.29%. The S&P 500 closed at 4,701.70 for a gain of 4.17 points or 0.09%. The Nasdaq Composite closed at 15,982.36 for a gain of 10.77 points or 0.07%. The VIX Volatility Index was higher at 17.22 for a gain of 0.74 points or 4.49%.
Monday’s market movers
The major U.S. indexes ended higher Monday after a strong finish to the week on Friday. Last week, the Dow Jones gained 1.4%, the S&P 500 gained 2% and the Nasdaq had a return of 3%. Investors continued some trading exuberance around the October jobs report, which was released Friday.
From the jobs report:
- Non-farm payrolls increased 531,000 following an increase of 312,000 and beating the estimate of 400,000.
- The unemployment rate decreased to 4.6% from 4.8%.
- Private non-farm payrolls increased 604,000 following an increase of 365,000 and beating the estimate of 350,000.
- Government payrolls were down 73,000.
- Manufacturing payrolls increased 60,000.
- Average hourly earnings increased 0.4% month over month and 4.9% year over year.
- Average weekly hours were 34.7.
- The participation rate was unchanged at 61.6%.
With the new jobs data, investors will be continuing to watch the Federal Reserve. Fed officials have signaled that they could potentially increase the federal funds rate around the end of 2022. Also from Capital Hill over the weekend, the U.S. House of Representatives approved a $1 trillion infrastructure bill ready for President Biden.
On the economic calendar Monday and in other news:
- Fed Chair Jerome Powell gave a speech.
- The Treasury held auctions for three-month bills at a rate of 0.045%, six-month bills at a rate of 0.065% and three-year notes at a rate of 0.700%
- OPEC is sticking by its decision to only raise oil output by 400,000 in December.
Across the board:
- Anthera Pharmaceuticals (ANTH, Financial) soared 19,900%.
- Myanmar Metals (MYL) climbed 900%.
- Pareteum (TEUM, Financial) gained 153.52%.
- Affymax (AFFY, Financial) increased 100%.
- Trade Desk (TTD, Financial) was up 29.5%.
- Coty (COTY, Financial) shares rose 14.88%.
- Advanced Micro Devices (AMD, Financial) swelled 10.14%.
- Caterpillar (CAT, Financial) inched up 4.09%.
- PayPal’s (PYPL, Financial) earnings helped it to a gain of 1.61%.
- Tesla (TSLA, Financial) fell 4.92% after Elon Musk’s Twitter poll was in favor of him selling 10% of his stake.
- Global X Cannabis ETF (POTX, Financial) rose 11.51%.
- Utilities Select Sector SPDR Fund (XLU, Financial) declined 1.49%.
- Bitcoin and Ethereum had strong gains Monday.
- The 10-year Treasury ended with a yield of 1.493%.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,442.74 for a gain of 5.66 points or 0.23%. The S&P 600 closed at 1,466.02 for a gain of 0.28 points or 0.019%. The Dow Jones U.S. Small-Cap Growth Index closed at 16,202.73 for a gain of 43.71 points or 0.27%. The Dow Jones U.S. Small-Cap Value Index closed at 11,972.77 for a gain of 14.43 points or 0.12%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,907.40 for a gain of 2.29 points or 0.079%; the S&P 100 at 2,169.44 for a loss of 0.93 points or -0.043%; the Nasdaq 100 at 16,336.03 for a loss of 23.35 points or 0.14%; the Russell 3000 at 2,794.62 for a gain of 4.06 points or 0.15%; the Russell 1000 at 2,637.28 for a gain of 3.67 points or 0.14%; the Wilshire 5000 at 48,901.65 for a gain of 69.23 points or 0.14%; and the Dow Jones U.S. Select Dividend Index at 858.16 for a loss of 2.40 points or -0.28%.
