The Dow Jones Industrial Average closed at 25,053.11 on Monday with a loss of 53.22 points or -0.21%. The S&P 500 closed at 2,709.80 for a gain of 1.92 points or 0.07%. The Nasdaq Composite closed at 7,307.90 for a gain of 9.71 points or 0.13%. The VIX Volatility Index was higher at 15.96 for a gain of 0.24 points or 1.53%.
Monday’s market movers
U.S. market indexes closed mostly higher Monday with earnings and the beginning of trade talks between the U.S. and China helping valuations. On the earnings calendar, Insperity Inc. (NSP, Financial) and General Finance Corp.(GFN, Financial) led headlines with earnings beats and returns of 18.76% and 14.74% respectively. In international news, China’s Shanghai stock market rallied as the U.S. and China began their first day of new negotiations. Meetings will last all week with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer arriving Thursday.
Investors were still concerned with U.S. government negotiations, which capped the day’s gains. The government will shut down again on Friday if a resolution is not achieved. Over the weekend, talks broke down, primarily over U.S. Immigration and Customs Enforcement detention beds.
Yields on longer-term Treasuries were mostly higher Monday with the 30-year Treasury bond ending at 2.995%. Across the globe, the dollar gained against nearly every major currency and the U.S. Dollar Index was up 0.43%.
Economic reports affecting market trading included the following:
- The Consumer Inflation Expectations report showed inflation at 2.97% in January.
- The Treasury held auctions for three-month bills at a rate of 2.4% and six-month bills at a rate of 2.45%.
The Dow Jones ended with a loss of 0.21% as the nation’s top conglomerates digested the day’s developments. In the Dow Jones Industrial Average, the following stocks led losses and gains:
- UnitedHealth (UNH, Financial) -2.08%
- Disney (DIS, Financial) -1.94%
- Nike (NKE, Financial) 1.61%
- Cisco (CSCO, Financial) 0.95%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,518.08 for a gain of 11.68 points or 0.78%. The S&P 600 closed at 943.25 for a gain of 8.66 points or 0.93%. The Dow Jones Small-Cap Growth TSM Index closed at 9,565.16 for a gain of 74.45 points or 0.78%. The Dow Jones Small-Cap Value TSM Index closed at 9,608.61 for a gain of 66.61 points or 0.70%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,864.66 for a gain of 12.21 points or 0.66%; the S&P 100 at 1,189.55 for a loss of 0.61 points or -0.05%; the Russell 3000 at 1,603.64 for a gain of 2.50 points or 0.16%; the Russell 1000 at 1,504.01 for a gain of 1.55 points or 0.10%; the Wilshire 5000 at 28,103.67 for a gain of 47.09 points or 0.17%; and the Dow Jones U.S. Select Dividend Index at 683.03 for a gain of 0.08 points or 0.01%.
