Stocks Gain and Nasdaq Reaches New High

GuruFocus.com
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- By Julie Young

U.S. market indexes were higher on Monday.

The Nasdaq Composite reached a new high of 6,091.60 for a gain of 44.00 points or 0.73%. The Standard & Poor's 500 closed at 2,388.33 for a gain of 4.13 points or 0.17%. The Dow Jones Industrial Average was slightly lower for the day at 20,913.46 for a loss of 27.05 points or 0.13%. The VIX Volatility Index was slightly lower, decreasing 0.71 points or 6.56% at 10.11.


Monday's market movers

Stocks were helped by tech companies Amazon.com Inc. (AMZN), Apple Inc. (AAPL) and Netflix Inc. (NFLX), all of which reported gains. Economic reports affecting market trading for the day included the following:

  • Personal income and outlays increased 0.2% for the month. The PCE Price Index reported an annual increase of 1.8%.

  • The PMI Manufacturing Index decreased to 52.8 from 53.3.

  • The ISM Manufacturing Index decreased to 54.8 from 57.2.

  • Construction spending decreased -0.2% for the month.



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

Losses

  • Boeing (BA) -1.32%.

  • Home Depot (HD) -1.21%.

  • IBM (IBM) -0.90%.

  • Nike (NKE) -0.76%.



Gains

  • Apple 2.04%

  • Microsoft (MSFT) 1.39%

  • McDonald's (MCD) 0.87%

  • ExxonMobil (XOM) 0.50%



In the broad market, technology and financial stocks led gains. The S&P 500 technology sector gained 0.75%.

Small-cap stocks

In small-caps, the Russell 2000 Index closed at 1,407.36 for a gain of 6.93 points or 0.49%. The S&P 600 Small-Cap Index closed at 855.02 for a gain of 3.66 points or 0.43%. The Dow Jones Small-Cap Growth TSM Index closed at 8,420.82 for a gain of 42.14 points or 0.50%. The Dow Jones Small-Cap Value TSM Index closed at 9,710.38 for a gain of 24.40 points or 0.25%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,737.37 for a gain of 4.61 points or 0.27%; the S&P 100 Index at 1,057.31 for a gain of 2.45 points or 0.23%; the Russell 3000 Index at 1,417.91 for a gain of 3.06 points or 0.22%; the Russell 1000 Index at 1,325.00 for a gain of 2.56 points or 0.19%; and the Dow Jones U.S. Select Dividend Index at 652.51 for a loss of 2.95 points or 0.45%.

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This article first appeared on GuruFocus.


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