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Tech Stocks Fall Monday With New Tech Probes

The Dow Jones Industrial Average closed at 26,835.51 on Monday with a gain of 38.05 points or 0.14%. The S&P 500 closed at 2,978.43 for a loss of 0.28 points or -0.01%. The Nasdaq Composite closed at 8,087.44 for a loss of 15.64 points or -0.19%. The VIX Volatility Index was higher at 15.30 for a gain of 0.30 points or 2.00%.

Monday's market movers

Tech stocks fell Monday as states launched their own tech probes, primarily beginning with a focus on Facebook (NASDAQ:FB) and Alphabet Inc.'s Google (NASDAQ:GOOG)(NASDAQ:GOOGL). The tech sector also continues to be heavily affected by uncertainty with China.

The Dow Jones maintained its momentum and the S&P 500 was down 0.01% Monday with investors foreseeing more rate cut action from the Federal Reserve in September after a weaker-than-expected August jobs report. Investors are also expecting new economic stimulus from the European Central Bank, which meets Thursday.

Economic reports affecting market trading included the following:

  • The Treasury held auctions for three-month bills at a rate of 1.920% and six-month bills at a rate of 1.825%.
  • Consumer credit increased by $23.29 billion in July, following an increase of $13.78 billion.

In the S&P 500, energy and financials led gains while health care and technology led losses. In the Dow Jones Industrial Average, the following stocks led gains and losses:

  • Walgreens Boots Alliance (NASDAQ:WBA) +5.82%
  • Caterpillar (NYSE:CAT) +3.75%
  • Dow Inc. (NYSE:DOW) +2.82%
  • Merck (NYSE:MRK) -3.58%
  • Visa (NYSE:V) -2.25%
  • Microsoft (NASDAQ:MSFT) -1.14%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,524.23 for a gain of 19.06 points or 1.27%. The S&P 600 closed at 943.39 for a gain of 13.28 points or 1.43%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,819.47 for a gain of 33.86 points or 0.35%. The Dow Jones U.S. Small-Cap Value Index closed at 9,359.09 for a gain of 161.96 points or 1.76%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,926.46 for a gain of 14.95 points or 0.78%; the S&P 100 at 1,316.78 for a gain of 1.05 points or 0.080%; the Nasdaq 100 at 7,832.40 for a loss of 20.14 points or -0.26%; the Russell 3000 at 1,744.38 for a gain of 0.77 points or 0.044%; the Russell 1000 at 1,645.80 for a loss of 0.65 points or -0.040%; the Wilshire 5000 at 30,430.40 for a gain of 27.95 points or 0.092%; and the Dow Jones U.S. Select Dividend Index at 716.65 for a gain of 6.81 points or 0.96%.

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This article first appeared on GuruFocus.