The Dow Jones Industrial Average closed at 26,478.02 on Monday with a loss of 95.70 points or -0.36%. The S&P 500 closed at 2,938.79 for a loss of 13.22 points or -0.45%. The Nasdaq Composite closed at 7,956.29 for a loss of 26.18 points or -0.33%. The VIX Volatility Index was higher at 17.94 for a gain of 0.90 points or 5.28%.
Monday’s market movers
U.S. indexes started the week lower after a volatile start to October in the previous week. Both stock and bond values fell marginally as investors looked to the beginning of negotiations between the U.S. and China on Thursday. News reports suggested that China may be narrowing its scope of concessions, while the U.S. could offer agreement on a short-term deal.
Economic reports affecting market trading included the following:
- Consumer credit outstanding increased by $17.9 billion in August following an increase of $23.05 billion.
- The Treasury held auctions for three-month bills at a rate of 1.680% and six-month bills at a rate of 1.690%.
- The Federal Reserve’s Powell and Kashkari gave speeches.
In the S&P 500, the energy, consumer staples and financial sectors led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- 3M (MMM, Financial) -1.48%
- Exxon (XOM, Financial) -1.38%
- Travelers (TRV, Financial) -1.25%
- Coca-Cola (KO, Financial) -1.23%
- IBM (IBM, Financial) -1.20%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,497.79 for a loss of 2.91 points or -0.19%. The S&P 600 closed at 928.71 for a loss of 1.75 points or -0.19%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,550.53 for a loss of 21.55 points or -0.23%. The Dow Jones U.S. Small-Cap Value Index closed at 9,192.83 for a loss of 33.47 points or -0.36%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,894.05 for a loss of 9.74 points or -0.51%; the S&P 100 at 1,301.93 for a loss of 5.06 points or -0.39%; the Nasdaq 100 at 7,725.13 for a loss of 28.97 points or -0.37%; the Russell 3000 at 1,720.85 for a loss of 7.02 points or -0.41%; the Russell 1000 at 1,624.05 for a loss of 6.87 points or -0.42%; the Wilshire 5000 at 30,022.20 for a loss of 120.50 points or -0.40%; and the Dow Jones U.S. Select Dividend Index at 714.41 for a loss of 3.83 points or -0.53%.
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
