U.S. Market Indexes Lower with Stock Returns Flatlining
U.S. market indexes were lower Monday. For the day the Dow Jones Industrial Average closed at 18086.40 for a loss of -51.98 points or -0.29 percent. The S&P 500 was also down, closing at 2126.50 for a loss of -6.48 points or -0.30 percent. The Nasdaq Composite closed lower at 5199.82 for a loss of -14.34 points or -0.28 percent. The VIX Volatility Index was higher for the day at 16.16 for a gain of 0.04 points or 0.25 percent.
Monday’s Market Movers
Markets were lower Monday with weak earnings and lower Treasury yields. Economic reports on the calendar for the day included the Empire State Manufacturing Survey and the Industrial Production report. The Empire State Manufacturing Index fell to -6.8 from -1.99. Industrial production increased 0.1 percent from the previous month, just below consensus of 0.2 percent. On Monday a speech from Stanley Fischer warned that continued low borrowing rates could negatively affect the economy.
Stocks trading actively for the day on Monday included the following:
Bank of America
Chesapeake Energy
General Electric
Apple
Microsoft
HP Inc.
Southwestern Energy
Netflix
Wells Fargo
Regions Financial
In the Dow Jones Industrial Average the following stock led losses:
McDonald’s -1.50
Nike -1.18
Home Depot -1.05
Goldman Sachs -0.98
Merck -0.98
Sectors leading losses in the broad market included consumer discretionary and energy. S&P 500 technology stocks were also lower, down -0.24 percent for the day. The following stocks led losses in technology:
Western Digital -3.08
HP Inc. -3.07
Salesforce.com -1.95
In commodities, gold traded higher as evidenced by the SPDR Gold Trust which reported a gain of 0.32 points or 0.27 percent. The dollar was lower for the day as the U.S. Dollar Index was down -0.27 points or -0.28 percent to 97.85.
Small-Cap Stocks
In small-caps, the Russell 2000 Index was lower at 1210.25 for a loss of -2.16 points or -0.18 percent. The S&P 600 Small-Cap Index was lower at 734.99 for a loss of -1.69 points or -0.23 percent. The Dow Jones Small-Cap Growth TSM Index was lower at 7344.47 for a loss of -23.27 points or -0.32 percent. The Dow Jones Small-Cap Value TSM Index was lower at 8544.57 for a loss of -1.46 points or -0.02 percent.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1518.19 for a loss of -1.63 points or -0.11 percent; the S&P 100 Index at 944.30 for a loss of -2.59 points or -0.27 percent; the Russell 3000 Index at 1257.56 for a loss of -3.54 points or -0.28 percent; the Russell 1000 Index at 1178.14 for a loss of -3.40 points or -0.29 percent; and the Dow Jones U.S. Select Dividend Index at 600.60 for a loss of -0.62 points or -0.10 percent.
