The Dow Jones Industrial Average closed at 24,423.26 on Monday with a gain of 34.31 points or 0.14%. The S&P 500 closed at 2,637.72 with a gain of 4.64 points or 0.18%. The Nasdaq Composite closed at 7,020.52 for a gain of 51.27 points or 0.74%. The VIX Volatility Index was lower at 22.64 for a loss of 0.59 points or -2.54%.
Monday’s market movers
The Dow Jones and S&P 500 ended a three-day selloff, closing higher on Monday to start the week. However, gains were only marginal. The tech sector led gains for the day with the Nasdaq Composite gaining 0.74%.
A positive outlook on the economy’s growth from analysts at JPMorgan and Goldman Sachs helped investor confidence and demand on Monday. Dovish comments from Federal Reserve Chairman Jerome Powell have also helped the equity outlook as investors continue to expect another rate hike on Dec. 19, but indications of less aggressive policy tightening for 2019.
Economic reports affecting market trading included the following:
- The Consumer Inflation Expectations report for November showed inflation expectations at 2.97%, down from 3%.
- The Treasury held auctions for three-month bills at a rate of 2.375% and six-month bills at a rate of 2.48%.
In the Dow Jones Industrial Average, the following stocks closed higher:
- Microsoft (MSFT, Financial) 2.89%
- Intel (INTC, Financial) 2.10%
- IBM (IBM, Financial) 1.50%
- Pfizer (PFE, Financial) 1.09%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,443.09 for a loss of 4.99 points or -0.34%. The S&P 600 closed at 898.91 for a loss of 6.35 points or -0.70%. The Dow Jones Small-Cap Growth TSM Index closed at 8,979.96 for a loss of 33.41 points or -0.37%. The Dow Jones Small-Cap Value TSM Index closed at 9,205.66 for a loss of 106.59 points or -1.14%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,769.53 for a loss of 11.41 points or -0.64%; the S&P 100 at 1,170.41 for a gain of 2.84 points or 0.24%; the Russell 3000 at 1,551.95 for a gain of 1.46 points or 0.09%; the Russell 1000 at 1,457.66 for a gain of 1.86 points or 0.13%; the Wilshire 5000 at 27,160.11 for a gain of 16.24 points or 0.06%; and the Dow Jones U.S. Select Dividend Index at 676.74 for a loss of 1.59 points or -0.23%.
