U.S. Markets closed

Election in France Helps US Market Indexes Gain on Monday

- By Julie Young

U.S. market indexes gained on Monday. For the day, the Dow Jones Industrial Average closed at 20763.89 for a gain of 216.13 points or 1.05%. The S&P 500 closed at 2374.15 for a gain of 25.46 points or 1.08%. The Nasdaq Composite closed at 5983.82 for a gain of 73.30 points or 1.24%. The VIX Volatility Index was lower for the day at 10.88 for a decrease of -3.75 points or -25.63%.

Monday's market movers

Indexes gained on Monday after Emmanuel Macron received the most votes in France's first round presidential election, which reduced the risk of a France exit from the European Union. President Donald Trump also discussed his corporate tax reform plans which include reducing the tax rate to 15%.

The Chicago Fed National Activity Index was the leading economic report for the day. The Index decreased to 0.08 from 0.27.

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

JPMorgan (JPM) 3.53%

Goldman Sachs (GS) 2.93%

Caterpillar (CAT) 2.64%

Microsoft (MSFT) 1.70%

In the broad market, financial stocks led gains. Technology was also higher with the S&P 500 technology sector gaining 1.19%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1397.94 for a gain of 18.09 points or 1.31%. The S&P 600 Index closed at 849.92 for a gain of 10.56 points or 1.26%. The Dow Jones Small-Cap Growth TSM Index closed at 8353.96 for a gain of 107.22 points or 1.30%. The Dow Jones Small-Cap Value TSM Index closed at 9739.61 for a gain of 97.33 points or 1.01%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1737.35 for a gain of 19.69 points or 1.15%; the S&P 100 Index at 1048.53 for a gain of 11.46 points or 1.11%; the Russell 3000 Index at 1409.46 for a gain of 15.17 points or 1.09%; the Russell 1000 Index at 1317.19 for a gain of 13.94 points or 1.07%; and the Dow Jones U.S. Select Dividend Index at 659.47 for a gain of 6.32 points or 0.97%.

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This article first appeared on GuruFocus.