U.S. Market Indexes Lower as Stock Momentum Slows
U.S. market indexes were lower on Monday as stock momentum slowed. For the day the Dow Jones Industrial Average was lower at 18493.06 for a loss of -77.79 points or -0.42 percent. The S&P 500 was also lower, closing at 2168.48 for a loss of -6.55 points or -0.30 percent. The Nasdaq Composite was also lower at 5097.63 for a loss of -2.53 points or -0.05 percent. The VIX Volatility Index was higher for the day at 12.97 for a gain of 0.95 points or 7.90 percent.
Monday’s Market Movers
Only one report was on the calendar for Monday. The Dallas Fed Manufacturing Survey showed a gain of 0.4 in its Production Index. This was an increase of -0.7 in the previous report.
Stock momentum in the U.S. slowed on Monday as valuations were lower. The Federal Open Market Committee’s July meeting on Tuesday and Wednesday of this week will be a leading factor for stock trading throughout the week. The Fed is not expected to raise rates however the economy is improving and a future rate hike could come soon.
In the Dow Jones Industrial Average, Chevron and Exxon led losses for the day. Chevron was 2.45% and Exxon Mobil was down 1.93 percent. Stocks gaining in the Dow Jones Industrial Average for the day included:
Gains (Percent)
Nike Inc B 0.72
E.I. du Pont de Nemours & Co 0.66
International Business Machines Corp 0.36
Microsoft Corp 0.28
Wal-Mart Stores Inc 0.27
Stock sectors leading losses for the day included energy and industrial. In technology the sector was down for the day. The Nasdaq 100 showed a loss of -3.12 points or -0.32 percent at 959.17. Stocks leading losses in the sector for the day included:
Losses (percent)
Liberty Interactive Corp A -7.23
Yahoo! Inc -2.69
DISH Network Corp -2.3
Express Scripts Holding Co -1.86
American Airlines Group Inc -1.54
In commodities, gold traded lower as evidenced by the SPDR Gold Trust which reported a loss of -0.88 points or -0.70 percent. The dollar was lower as the U.S. Dollar Index was down. For the day the U.S. Dollar Index was at 97.27 for a loss of -0.13 points or -0.13 percent.
Small-Cap Stocks
In small-caps, the Russell 2000 was lower at 1209.82 for a loss of -3.07 points or -0.25 percent. The S&P 600 Small-Cap Index was lower at 739.19 for a loss of -2.67 points or -0.36 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7365.22 for a loss of -23.85 points or -0.32 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8690.05 for a loss of -25.51 points or -0.29 percent.
Other Notable Indexes
The S&P 400 Mid-Cap Index was lower at 1546.80 for a loss of -5.54 points or -0.36 percent. The S&P 100 Index was lower at 959.17 for a loss of -3.12 points or -0.32 percent. The Russell 3000 Index was lower at 1279.79 for a loss of -3.78 points or -0.29 percent. The Russell 1000 Index was lower at 1200.70 for a loss of -3.59 points or -0.30 percent. The Dow Jones U.S. Select Dividend Index was lower at 623.68 for a loss of -2.35 points or -0.38 percent.
