U.S. market indexes were higher on Monday, regaining some ground after last week’s losses. For the day the Dow Jones Industrial Average closed at 18502.99 for a gain of 107.59 points or 0.58 percent. The S&P 500 was also higher, closing at 2180.38 for a gain of 11.34 points or 0.52 percent. The Nasdaq Composite closed higher at 5232.33 for a gain of 13.41 points or 0.26 percent. The VIX Volatility Index was lower for the day at 13.04 for a loss of -0.61 points or -4.47 percent.

Monday’s Market Movers

Stocks regained losses from Friday after stocks were lower following a more aggressive outlook on rate increases from the Federal Reserve. Stocks gained further support Monday from a positive Personal Income and Outlays report. Personal income increased 0.4 percent from the previous month. The Fed’s key indicator for inflation was on target for the Fed’s inflation objective. The PCE Price Index was up 0.8 percent annually. The PCE Price Index excluding food and energy was up 1.6 percent annually, close to the Fed’s target rate of 2 percent.

Stocks trading actively for the day included the following:

Bank of America
Apple
Ford
Chesapeake Energy
Wells Fargo
General Electric
Cisco
Citigroup

In the Dow Jones Industrial Average, the following stocks led gains:

(Percent)
E.I. du Pont de Nemours & Co                     1.15
The Travelers Companies Inc                       1.14
American Express Co                      1.13
JPMorgan Chase & Co                    1.10
International Business Machines Corp                     0.88

Financial stocks led gains for the day as banks increased their revenue outlooks for interest. Technology stocks were higher for the day. The Nasdaq Composite closed higher at 5232.33 for a gain of 13.41 points or 0.26 percent. The Nasdaq 100 was higher at 4791.09 for a gain of 7.39 points or 0.15 percent. Technology stocks leading gains included the following:

(Percent)
Liberty Media Corp          9.53
T-Mobile US Inc 1.68
Liberty Media Corp      1.29
Facebook  1.26

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.25 points or 0.20 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.10 points or 0.10 percent to 95.58.

Small-Cap Stocks

In small-caps, the Russell 2000 Index was higher at 1244.94 for a gain of 6.91 points or 0.56 percent. The S&P 600 Small-Cap Index was higher at 756.18 for a gain of 4.27 points or 0.57 percent. The Dow Jones Small-Cap Growth TSM Index was higher at 7584.77 for a gain of 43.04 points or 0.57 percent. The Dow Jones Small-Cap Value TSM Index was higher at 8795.43 for a gain of 58.59 points or 0.67 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1570.79 for a gain of 11.12 points or 0.71 percent; the S&P 100 Index higher at 963.55 for a gain of 4.49 points or 0.47 percent; the Russell 3000 Index higher at 1289.85 for a gain of 6.82 points or 0.53 percent; the Russell 1000 Index higher at 1208.10 for a gain of 6.36 points or 0.53 percent; and the Dow Jones U.S. Select Dividend Index higher at 618.61 for a gain of 4.22 points or 0.69 percent.