The Dow Jones Industrial Average closed at 26,135.79 on Monday with a gain of 249.78 points or 0.96%. The S&P 500 closed at 2,923.65 for a gain of 34.97 points or 1.21%. The Nasdaq Composite closed at 8,002.81 for a gain of 106.82 points or 1.35%. The VIX Volatility Index was lower at 16.73 for a loss of 1.74 points or -9.42%.
Monday’s market movers
U.S. indexes continued their rally, closing higher Monday as investors adjusted to last week’s tariff reprieve announcement and looked ahead to the last of the high-profile earnings reports this week in retail companies Home Depot (HD, Financial) and Lowe’s (LOW, Financial). The Trump administration has pushed back tariffs on over half of the newly tagged Chinese goods initially with a Sept. 1 imposition. According to the Wall Street Journal, $156 billion of the goods slated for tariff increases on Sept. 1 will be delayed. Also on the calendar for the week will be the Federal Reserve’s minutes Wednesday and economists’ Jackson Hole Symposium beginning Thursday. Global stimulus will be a key topic at the symposium as central bankers worldwide consider actions for economic growth.
Economic reports affecting market trading included the following:
- The Treasury held auctions for three-month bills at a rate of 1.900% and six-month bills at a rate of 1.840%.
- Retail e-commerce sales increased 4.2% quarter over quarter for the second quarter.
In the S&P 500, the energy, technology and consumer discretionary sectors led gains. In the Dow Jones Industrial Average, the following stocks led gains:
- Cisco (CSCO, Financial) 3.39%
- Dow Inc. (DOW, Financial) 2.50%
- Home Depot (HD, Financial) 2.18%
- Apple (AAPL, Financial) 2.13%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,509.86 for a gain of 16.22 points or 1.09%. The S&P 600 closed at 929.36 for a gain of 9.74 points or 1.06%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,755.12 for a gain of 89.25 points or 0.92%. The Dow Jones U.S. Small-Cap Value Index closed at 9,134.33 for a gain of 90.51 points or 1.00%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,891.49 for a gain of 18.27 points or 0.98%; the S&P 100 at 1,291.27 for a gain of 16.08 points or 1.26%; the Nasdaq 100 at 7,719.32 for a gain of 115.21 points or 1.52%; the Russell 3000 at 1,715.43 for a gain of 19.51 points or 1.15%; the Russell 1000 at 1,617.75 for a gain of 18.56 points or 1.16%; the Wilshire 5000 at 29,908.33 for a gain of 341.49 points or 1.15%; and the Dow Jones U.S. Select Dividend Index at 696.37 for a gain of 7.58 points or 1.10%.
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