The Dow Jones Industrial Average closed at 27,783.04 on Monday with a loss of 268.37 points or -0.96%. The S&P 500 closed at 3,113.87 for a loss of 27.11 points or -0.86%. The Nasdaq Composite closed at 8,567.99 for a loss of 97.48 points or -1.12%. The VIX Volatility Index was higher at 14.63 for a gain of 2.01 points or 15.93%.
Monday’s market movers
U.S. indexes closed with losses Monday on the first trading day of December. Stocks were down across the board despite a strong start to holiday buying. Data from Adobe Analytics showed online sales up 19.6% from last year to a total of $7.4 billion on Black Friday.
The day’s top detractors included trade news and the ISM Manufacturing report. President Trump announced that tariffs on aluminum and steel from Argentina and Brazil would be re-enacted after concerns over currency manipulations. The ISM Manufacturing report also worried investors with a fourth straight reading below 50, which indicates contraction. The November ISM Manufacturing PMI was reported at 48.1, down from 48.3. In China, the Caixin Manufacturing PMI showed a slight increase to 51.8 in November from 51.7.
Economic reports affecting market trading included the following:
- The Markit Manufacturing PMI increased to 52.6 in November from 51.3.
- The ISM Manufacturing PMI decreased to 48.1 in November from 48.3. Separately, the ISM Manufacturing Employment Index decreased to 46.6 from 47.7, the ISM Manufacturing Prices Index increased to 46.7 from 45.5 and the ISM Manufacturing New Orders Index decreased to 47.2 from 49.1.
- Construction spending decreased 0.8% in October following a decrease of 0.3%.
- The Treasury held auctions for three-month bills at a rate of 1.56% and six-month bills at a rate of 1.565%.
In the S&P 500, the real estate and industrial sectors led losses. In the Dow Jones Industrial Average, the following stocks led losses:
- Boeing (BA, Financial) -2.58%
- American Express (AXP, Financial) -2.36%
- United Technologies (UTX, Financial) -2.13%
- Goldman Sachs (GS, Financial) -1.65%
- Visa (V, Financial) -1.28%
- Home Depot (HD, Financial) -1.14%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,606.93 for a loss of 17.57 points or -1.08%. The S&P 600 closed at 981.57 for a loss of 11.94 points or -1.20%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,270.78 for a loss of 118.97 points or -1.15%. The Dow Jones U.S. Small-Cap Value Index closed at 9643.51 for a loss of 69.92 points or -0.72%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,995.88 for a loss of 14.27 points or -0.71%; the S&P 100 at 1,387.44 for a loss of 11.16 points or -0.80%; the Nasdaq 100 at 8,309.26 for a loss of 94.42 points or -1.12%; the Russell 3000 at 1,825.55 for a loss of 16.50 points or -0.90%; the Russell 1000 at 1,721.47 for a loss of 15.38 points or -0.89%; the Wilshire 5000 at 31,838.26 for a loss of 281.44 points or -0.88%; and the Dow Jones U.S. Select Dividend Index at 733.47 for a loss of 4.03 points or -0.55%.
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