The Dow Jones Industrial Average closed at 23,909.84 on Monday with a loss of 86.11 points or -0.36%. The S&P 500 closed at 2,582.61 for a loss of 13.65 points or -0.53%. The Nasdaq Composite closed at 6,905.92 for a loss of 65.56 points or -0.94%. The VIX Volatility Index was higher at 18.99 for a gain of 0.80 points or 4.40%.
Monday's market movers
Stocks fell on Monday with several detractors contributing to losses. Worries over fourth-quarter earnings were reported as estimates for S&P 500 companies are lower. A slowdown in China's economic data and a report that the U.S. economy could move from its top spot by 2020 were top concerns. Internationally, investors were also watching voting for Brexit, which occurs tomorrow.
Citigroup led big bank earnings Monday, with earnings per share beating by 6 cents but revenue missing by $440 million. PG&E Corp. (PCG, Financial) and Apple (AAPL, Financial) also led the day's headlines. PG&E was down 52% to $8.38 after the company filed for bankruptcy and announced the resignation of its CEO. Apple was down 1.50% with analysts concerned about sales in China.
China worries were also a factor for Treasury yields, which fell on Monday. Additionally, yields were affected by the government shutdown, which entered its 24th day with no resolution in sight.
Economic reports affecting market trading included the following:
- The Consumer Inflation Expectations report showed a reading of 3%, increasing from 2.97%.
- The Treasury held auctions for three-month bills and six-month bills at rates of 2.405% and 2.460% respectively.
In the Dow Jones Industrial Average, the following stocks led losses:
- Merck (MRK, Financial) -2.04%
- Apple (AAPL, Financial) -1.76%
- Walgreens Boots Alliance (WBA, Financial) -1.68%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,434.10 for a loss of 13.29 points or -0.92%. The S&P 600 closed at 894.01 for a loss of 8.02 points or -0.89%. The Dow Jones Small-Cap Growth TSM Index closed at 8,945.55 for a loss of 77.90 points or -0.86%. The Dow Jones Small-Cap Value TSM Index closed at 9,107.49 for a loss of 46.93 points or -0.51%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,752.68 for a loss of 10.94 points or -0.62%; the S&P 100 at 1143.32 for a loss of 6.03 points or -0.52%; the Russell 3000 at 1,522.44 for a loss of 9.43 points or -0.62%; the Russell 1000 at 1,428.56 for a loss of 8.43 points or -0.59%; the Wilshire 5000 at 26,693.57 for a loss of 161.66 points or -0.60%; and the Dow Jones U.S. Select Dividend Index at 655.70 for a loss of 5.66 points or -0.86%.
