Stocks Close Flat as Investors Watch Yield Curve

2 to 10-year Treasury yields lead to inverted yield curve

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Mar 25, 2019
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The Dow Jones Industrial Average closed at 25,516.83 on Monday with a gain of 14.51 points or 0.06%. The S&P 500 closed at 2,798.36 for a loss of 2.35 points or -0.08%. The Nasdaq Composite closed at 7,637.54 for a loss of 5.13 points or -0.07%. The VIX Volatility Index was lower at 16.45 for a loss of 0.03 points or -0.18%.

Monday’s market movers

Stocks closed mostly flat Monday after a Friday selloff primarily driven by economic contraction concerns and an inverted yield curve. The Treasury yield curve continued to remain inverted Monday, as shown below:


Appetite for two-year to 30-year Treasuries pushed yields down and prices up with two to 10-year Treasury securities inverting. The 10-year note reported the largest price gain on Monday, increasing 11/32 to a yield of 2.405%. In the S&P 500, the financial sector led losses as investors digested the new outlook on rates in 2019.

Economic reports affecting market trading included the following:

  • The Chicago Fed National Activity Index was down 0.29% in February.
  • The Treasury held auctions for three-month bills at a rate of 2.410% and six-month bills at a rate of 2.415%.

In the Dow Jones Industrial Average, the following stocks led losses and gains:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,512.86 for a gain of 6.93 points or 0.46%. The S&P 600 closed at 922.32 for a gain of 4.23 points or 0.46%. The Dow Jones Small-Cap Growth TSM Index closed at 9,608.60 for a gain of 31.06 points or 0.32%. The Dow Jones Small-Cap Value TSM Index closed at 9,248.89 for a gain of 36.35 points or 0.39%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,858.22 for a gain of 3.23 points or 0.17%; the S&P 100 at 1,237.21 for a loss of 1.88 points or -0.15%; the Russell 3000 at 1,648.15 for a loss of 0.90 points or -0.05%; the Russell 1000 at 1,549.50 for a loss of 1.46 points or -0.09%; the Wilshire 5000 at 28,891.47 for a loss of 18.08 points or -0.06%; and the Dow Jones U.S. Select Dividend Index at 694.56 for a gain of 0.05 points or 0.01%.

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