U.S. Market Indexes Mostly Lower as Stock Momentum Slows
Mon Aug 01 2016
Jim Andrews (452 articles)

U.S. Market Indexes Mostly Lower as Stock Momentum Slows

U.S. market indexes were mostly lower to start the week on Monday. For the day, the Dow Jones Industrial Average was lower at 18404.51 for a loss of -27.73 points or -0.15 percent. The S&P 500 closed at 2170.84 for a loss of -2.76 points or -0.13 percent. The Nasdaq Composite was higher at 5184.20 for a gain of 22.06 points or 0.43 percent. The VIX Volatility Index was higher at 12.41 for a gain of 0.54 points or 4.55 percent.

Monday’s Market Movers

On Monday, manufacturing was in the spotlight for the day. Reports were released on the PMI Manufacturing Index, ISM Manufacturing Index and construction spending. The PMI Manufacturing Index was higher for the month at 52.9. The ISM Manufacturing Index was also higher at 52.6. Construction spending was up 0.3 percent from a year ago. For the month, construction spending was down 0.6 percent which was improved from the previous month’s -0.8 percent.

Stocks trading actively for Monday included the following: Bank of America, Ford, Apple, Chesapeake Energy, General Electric, Pfizer, Microsoft, Facebook and Exxon Mobil.

In the Dow Jones Industrial Average, the following stocks led losses for the day:

Losses (percent)
Exxon Mobil Corp             -3.47
Chevron Corp    -3.29
Verizon Communications Inc       -1.64
Caterpillar Inc    -0.98
United Technologies Corp            -0.66

In the broad market, sectors leading losses included energy, materials and financial. Technology stocks gained on Monday. The following stocks led gains:

Gains (percent)
Biogen Inc           4.1
Alexion Pharmaceuticals Inc        3.81
Netflix Inc            3.42
Illumina Inc         2.58
Baidu Inc ADR    2.27
Celgene Corp     2.23
Regeneron Pharmaceuticals Inc 2.09
Apple Inc             1.77
Cognizant Technology Solutions Corp A  1.67
Yahoo! Inc           1.6
T-Mobile US Inc 1.58
Seagate Technology PLC                1.25
Gilead Sciences Inc          1.25
Amgen Inc           1.24
Vertex Pharmaceuticals Inc          1.24
Alphabet Inc A   1.21
Amazon.com Inc               1.16

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.24 points or 0.19 percent. The dollar was higher for the day as the U.S. Dollar Index was up 0.20 points or 0.21 percent to 95.79

Small-Cap Stocks

In small-caps, the Russell 2000 was lower at 1219.12 for a loss of -0.82 points or -0.07 percent. The S&P 600 Small-Cap Index was lower at 743.28 for a loss of -0.70 points or -0.09 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7451.41 for a loss of -3.91 points or -0.05 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8713.20 for a loss of -35.58 points or -0.41 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index closing at 1555.08 for a loss of -4.38 points or -0.28 percent; the S&P 100 Index closing at 961.79 for a gain of 0.04 points or 0.01 percent; the Russell 3000 Index closing at 1282.46 for a loss of -1.81 points or -0.14 percent; the Russell 1000 Index closing at 1202.66 for a loss of -1.77 points or -0.15 percent; and the Dow Jones U.S. Select Dividend Index closing at 621.56 for a loss of -2.15 points or -0.34 percent.

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.