The Dow Jones Industrial Average closed at 26,112.53 on Monday with a gain of 22.92 points or 0.09%. The S&P 500 closed at 2,889.67 for a gain of 2.69 points or 0.09%. The Nasdaq Composite closed at 7,845.02 for a gain of 48.37 points or 0.62%. The VIX Volatility Index was higher at 15.36 for a gain of 0.08 points or 0.52%.
Monday’s market movers
Investors started the week with a mild appetite for risk as international trade tensions continue to be a top equity market factor, but the Federal Reserve’s monetary policy meeting this week could also provide indications for a rate hike to fuel stock buying. The Fed begins its June meeting on Tuesday. Markets are pricing in an approximately 25% chance of a rate decrease this week and a 75% chance of a decrease in September.
Economic reports affecting market trading included the following:
- The National Association of Homebuilders Housing Market Index decreased to 64 from 66.
- The Treasury held auctions for three-month bills at a rate of 2.17% and sux-month bills at a rate of 2.13%.
- The Treasury’s International Capital report showed overall net capital flows of -$7.8 billion in April, foreign bond investment of $16.9 billion and net long-term Treasury international capital flows of $46.9 billion.
In the Dow Jones Industrial Average, the following stocks led gains:
- Boeing (BA, Financial) 2.23%
- Cisco (CSCO, Financial) 1.19%
- Exxon (XOM, Financial) 1.00%
- Merck (MRK, Financial) 0.63%
- Apple (AAPL, Financial) 0.60%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,532.75 for a gain of 10.25 points or 0.67%. The S&P 600 closed at 924.01 for a gain of 0.44 points or 0.05%. The Dow Jones Small-Cap Growth Total Stock Market Index closed at 9,803.16 for a gain of 59.40 points or 0.61%. The Dow Jones Small-Cap Value Total Stock Market Index closed at 9,360.31 for a loss of 14.60 points or -0.16%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,899.56 for a loss of 0.36 points or -0.02%; the S&P 100 at 1,277.35 for a gain of 2.95 points or 0.23%; the Russell 3000 at 1,699.55 for a gain of 2.51 points or 0.15%; the Russell 1000 at 1,599.94 for a gain of 1.74 points or 0.11%; the Wilshire 5000 at 29,639.10 for a gain of 43.44 points or 0.15%; and the Dow Jones U.S. Select Dividend Index at 696.44 for a loss of -2.55 points or -0.36%.
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