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Julie Young
Articles (1176) 

US Stocks Close Mostly Lower on Monday

Nasdaq down 1.61%

The Dow Jones Industrial Average closed at 24,819.78 on Monday with a gain of 4.74 points or 0.02%. The S&P 500 closed at 2,744.45 for a loss of 7.61 points or -0.28%. The Nasdaq Composite closed at 7,333.02 for a loss of 120.13 points or -1.61%. The VIX Volatility Index was higher at 18.86 for a gain of 0.15 points or 0.80%.

Monday’s market movers

U.S. stocks closed mostly lower to start the new month. The S&P 500 was down 0.28%, led by the technology sector, which reported a loss of 1.75%. Tech stocks continued to be negatively affected by international trade with China’s Huawei. Investors were also watching developing regulatory investigations into Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG) and Facebook (NASDAQ:FB). Meanwhile, Mexico and China headlines showed willingness to negotiate on trade. The Dow Jones managed to close with a small gain on Monday, up 0.02%, led by: Verizon (NYSE:VZ), Dow Inc. (NYSE:DOW) and Chevron (NYSE:CVX). Small-cap stock indexes were also higher.

Economic reports affecting market trading included the following:

  • The Markit Manufacturing PMI decreased to 50.5 in May from 52.6.
  • The ISM Manufacturing PMI decreased to 52.1 in May from 52.8.
  • Construction spending was unchanged in April.
  • The Treasury held auctions for three-month bills at a rate of 2.300% and six-month bills at a rate of 2.255%.
  • May preliminary vehicle sales began to be released with a seasonally adjusted annual forecast of 16.8 million.

Small-cap stocks

In small caps, the Russell 2000 closed at 1,469.98 for a gain of 4.50 points or 0.31%. The S&P 600 closed at 894.52 for a gain of 5.80 points or 0.65%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,367.67 for a gain of 10.66 points or 0.11%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,116.50 for a gain of 92.07 points or 1.02%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,822.94 for a gain of 12.44 points or 0.69%; the S&P 100 at 1,206.83 for a loss of 8.19 points or -0.67%; the Russell 3000 at 1,616.08 for a loss of 3.64 points or -0.23%; the Russell 1000 at 1,520.39 for a loss of 4.03 points or -0.26%; the Wilshire 5000 at 28,157.80 for a loss of 96.82 points or -0.34%; and the Dow Jones U.S. Select Dividend Index at 675.26 for a gain of 9.22 points or 1.38%.

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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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