The Dow Jones Industrial Average closed at 24,442.92 on Monday with a loss of -245.39 points or -0.99%. The S&P 500 closed at 2,641.25 for a loss of -17.44 points or -0.66%. The Nasdaq Composite closed at 7,050.29 for a loss of -116.92 points or -1.63%. The VIX Volatility Index was higher at 24.70 for a gain of 0.54 points or 2.24%.
Monday’s market movers
U.S. market indexes turned negative and closed the day with losses after a Bloomberg report discussed the likelihood of more tariffs being instituted by December if talks with China don’t go well. The U.S. has threatened additional tariffs on another $267 billion of goods. A trade meeting with President Trump and China’s President Xi Jinping is tentatively scheduled for November.
Third-quarter earnings continued on Monday. Cooper Tire and Rubber Co. (CTB, Financial) led gains with an earnings beat of 62 cents. Meanwhile, several companies beating estimates reported losses. A Wall Street Journal report Monday also stated that investors are selling companies with earnings beats at the highest rate since 2011. This news comes as several indexes are in correction territory, losing more than 10% since their peak.
Economic reports affecting market trading on Monday included the following:
- The Bureau of Economic Analysis released the Personal Income and Outlays report. The report showed personal income increasing 0.2% in September and the PCE Price Index increasing 2% from one year ago.
- The Treasury held auctions for three-month bills and six-month bills at the following rates: three-month, 2.305%; six-month, 2.430%.
In the Dow Jones Industrial Average, the following stocks led losses:
Small-cap stocks
In small caps, the Russell 2000 closed at 1,477.31 for a loss of -6.51 points or -0.44%. The S&P 600 closed at 930.09 for a loss of -2.06 points or -0.22%. The Dow Jones Small-Cap Growth TSM Index closed at 9,158.23 for a loss of -69.95 points or -0.76%. The Dow Jones Small-Cap Value TSM Index closed at 9,382.68 for a gain of 62.27 points or 0.67%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,788.59 for a loss of -6.51 points or -0.36%; the S&P 100 at 1,177.69 for a loss of -11.37 points or -0.96%; the Russell 3000 at 1,555.69 for a loss of -10.25 points or -0.65%; the Russell 1000 at 1,458.80 for a loss of -9.86 points or -0.67%; the Wilshire 5000 at 27,228.07 for a loss of -199.06 points or -0.73%; and the Dow Jones U.S. Select Dividend Index at 678.28 for a gain of 4.94 points or 0.73%.
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