The Dow Jones Industrial Average closed at 27,359.16 on Monday with a gain of 27.13 points or 0.10%. The S&P 500 closed at 3,014.30 for a gain of 0.53 points or 0.02%. The Nasdaq Composite closed at 8,258.19 for a gain of 14.04 points or 0.17%. The VIX Volatility Index was higher at 12.72 for a gain of 0.33 points or 2.66%.
Monday's market movers
U.S. indexes reported another day of record highs Monday with the Dow Jones closing at 27,359.16 and the S&P 500 closing at 3,014.30. Risk appetite continued to be fueled by dovish Federal Reserve sentiment and Chairman Jerome Powell's comments before Congress last week reporting the Fed will take action to keep the economy growing.
On Monday, Citigroup (C, Financial) was the first of the big banks to report second-quarter earnings with both a revenue and earnings beat. Citigroup's earnings per share were $1.94, beating by 13 cents. Revenue was $18.76 billion, up 1.6% year over year and beating by $270 million. In the S&P 500, utilities and technology led gains. Financial stocks in the S&P 500 were mostly lower for the day with analysts expressing some concerns over Citigroup's net interest margin and lending yields.
There were no major reports on the economic calendar. The Treasury held auctions for three-month bills at a rate of 2.115% and six-month bills at a rate of 2.010%.
In the Dow Jones Industrial Average, the following stocks led gains:
Dow (DOW, Financial) 2.45%
Merck (MRK, Financial) 1.54%
Apple (AAPL, Financial) 0.94%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,561.82 for a loss of 8.18 points or -0.52%. The S&P 600 closed at 946.96 for a loss of 5.57 points or -0.58%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,081.40 for a loss of 33.96 points or -0.34%. The Dow Jones U.S. Small-Cap Value Index closed at 9,516.37 for a loss of 78.06 points or -0.81%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,951.36 for a loss of 9.13 points or -0.47%; the S&P 100 at 1,333.24 for a gain of 0.92 points or 0.069%; the Nasdaq 100 at 7,966.93 for a gain of 23.69 points or 0.30%; the Russell 3000 at 1,770.42 for a loss of 0.38 points or -0.022%; the Russell 1000 at 1,669.27 for a gain of 0.23 points or 0.014%; the Wilshire 5000 at 30,873.30 for a loss of 8.42 points or -0.027%; and the Dow Jones U.S. Select Dividend Index at 722.10 for a loss of 0.93 points or -0.13%.
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