U.S. Market Indexes Higher with Oil Price Gains

Mon Oct 10 2016
Jim Andrews (506 articles)
U.S. Market Indexes Higher with Oil Price Gains

U.S. market indexes were higher Monday. For the day the Dow Jones Industrial Average closed at 18329.04 for a gain of 88.55 points or 0.49 percent. The S&P 500 Index was also higher, closing at 2163.66 for a gain of 9.92 points or 0.46 percent. The Nasdaq Composite closed higher at 5328.67 for a gain of 36.27 points or 0.69 percent. The VIX Volatility Index was higher at 13.53 for a gain of 0.05 points or 0.37 percent.

Monday’s Market Movers

Stocks were higher Monday following new highs for oil prices. For the day, WTI crude was up 2.81 percent to $51.21 a barrel. Brent crude gained 2 percent to $52.97 a barrel.

On the economic calendar, the TD Ameritrade IMX was the day’s leading report. Investor sentiment for stocks increased according to the index which gained to 5.49 from 5.26.

Stocks trading actively for the day included the following:

Bristol-Myers Squibb

Bank of America

Apple

Coty

General Electric

Chesapeake Energy

Ford

Wells Fargo

Salesforce.com

Merck

In the Dow Jones Industrial Average, stocks leading gains included the following:

Exxon Mobil 1.97

Merck 1.80

Apple 1.77

Chevron 1.70

Boeing 1.52

McDonald’s 1.11

UnitedHealth 1.08

IBM 0.89

DuPont 0.83

JPMorgan 0.78

Top sectors for the broad market were energy and utilities. Technology was also higher for the day with S&P 500 technology companies gaining 0.67 percent. The Nasdaq 100 closed at 4893.77 for a gain of 29.24 points or 0.60 percent. Stocks leading gains in the technology sector included the following:

Mylan 8.21

Liberty Media Group 7.52

Discovery Communications 2.74

Tesla Motors 2.2

Apple 1.77

Yahoo! Inc. 1.72

In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.42 points or 0.35 percent. The dollar was higher for the day as the U.S. Dollar Index gained 0.39 points or 0.40 percent to 96.93.

Small-Cap Stocks

In small-caps, the Russell 2000 Index was higher at 1250.66 for a gain of 14.10 points or 1.14 percent. The S&P 600 Small-Cap Index was higher at 756.64 for a gain of 7.58 points or 1.01 percent. The Dow Jones Small-Cap Growth TSM Index was higher at 7634.30 for a gain of 83.14 points or 1.10 percent. The Dow Jones Small-Cap Value TSM Index was higher at 8685.07 for a gain of 69.32 points or 0.80 percent.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1545.51 for a gain of 11.55 points or 0.75 percent; the S&P 100 Index at 958.68 for a gain of 3.59 points or 0.38 percent; the Russell 3000 Index at 1280.92 for a gain of 6.32 points or 0.50 percent; the Russell 1000 Index at 1198.90 for a gain of 5.59 points or 0.47 percent; and the Dow Jones U.S. Select Dividend Index at 606.82 for a gain of 4.04 points or 0.67 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