U.S. markets closed
  • S&P 500

    3,901.82
    +90.67 (+2.38%)
     
  • Dow 30

    31,535.51
    +603.14 (+1.95%)
     
  • Nasdaq

    13,588.83
    +396.48 (+3.01%)
     
  • Russell 2000

    2,275.32
    +74.27 (+3.37%)
     
  • Crude Oil

    60.20
    -1.30 (-2.11%)
     
  • Gold

    1,723.10
    -5.70 (-0.33%)
     
  • Silver

    26.64
    +0.20 (+0.76%)
     
  • EUR/USD

    1.2057
    -0.0031 (-0.25%)
     
  • 10-Yr Bond

    1.4460
    -0.0140 (-0.96%)
     
  • GBP/USD

    1.3925
    +0.0003 (+0.02%)
     
  • USD/JPY

    106.7700
    +0.2680 (+0.25%)
     
  • BTC-USD

    49,079.38
    +3,767.70 (+8.32%)
     
  • CMC Crypto 200

    982.63
    +54.40 (+5.86%)
     
  • FTSE 100

    6,588.53
    +105.10 (+1.62%)
     
  • Nikkei 225

    29,663.50
    +697.49 (+2.41%)
     

US Indexes Close Higher Monday

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GuruFocus.com
·4 min read
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The Dow Jones Industrial Average closed at 22,327.48 on Monday with a gain of 690.70 points or 3.19%. The S&P 500 closed at 2,626.65 for a gain of 85.18 points or 3.35%. The Nasdaq Composite closed at 7,774.15 for a gain of 271.77 points or 3.62%. The VIX Volatility Index was lower at 57.30 for a loss of 8.24 points or -12.57%.

Monday's market movers


Stocks gained Monday as many investors returned to equities. Over the weekend, President Trump announced an extension of social distancing to the end of April. On Sunday, the U.S. also announced approximately 17,500 new coronavirus cases with a potential flattening of the curve.

In China, shelter rules were mostly all lifted and many workers returned to work. The U.S. also agreed to halt import tariffs for three months.

The Food and Drug Administration issued an emergency use authorization for the drugs hydroxychloroquine and chloroquine. The authorization is expected to help increase the stockpiles of the drugs through donations. President Trump told Fox News Monday that he expects to see some results from the use of chloroquine drug treatments in the next three days.

In the S&P 100, drug companies gained as other companies also look to new drug developments and Abbott Laboratories launched a five-minute coronavirus test. The following companies topped the day's returns:

  • Johnson & Johnson (NYSE:JNJ) 7.85%

  • Merck (NYSE:MRK) 7.04%

  • Biogen (NASDAQ:BIIB) 6.79%

  • Abbott Laboratories (NYSE:ABT) 5.91%

  • Pfizer (NYSE:PFE) 5.74%



Economic reports affecting market trading included the following:

  • Pending home sales increased 2.4% in February, beating the estimate of -1.6%. Year over year, pending home sales increased 9.4%, overshooting the estimate of 1.5%.

  • The Dallas Fed Manufacturing Index decreased to -70 in March, below the estimate of -6.

  • The Treasury held auctions for three-month bills at a rate of 0.085% and six-month bills at a rate of 0.10%. The 10-year Treasury ended the day at a yield of 0.714%.



In the S&P 500, health care and technology led gains. The S&P 500 energy sector posted only a 0.11% gain after oil prices fell to new lows. WTI crude oil was reported at $20.24 per barrel. In the Dow Jones Industrial Average, the following stocks led gains:

  • Johnson & Johnson (NYSE:JNJ) 7.77%

  • Merck (NYSE:MRK) 7.24%

  • Microsoft (NASDAQ:MSFT) 6.77 %



Small-cap stocks

In small caps, the Russell 2000 closed at 1,158.32 for a gain of 26.33 points or 2.33%. The S&P 600 closed at 685.32 for a gain of 15.44 points or 2.30%. The Dow Jones U.S. Small-Cap Growth Index closed at 7,740.65 for a gain of 176.87 points or 2.34%. The Dow Jones U.S. Small-Cap Value Index closed at 5,904.26 for a gain of 43.72 points or 0.75%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,459.15 for a gain of 36.23 points or 2.55%; the S&P 100 at 1,204.14 for a gain of 41.84 points or 3.60%; the Nasdaq 100 at 7,889.01 for a gain of 300.63 points or 3.96%; the Russell 3000 at 1,512.39 for a gain of 46.03 points or 3.14%; the Russell 1000 at 1,439.13 for a gain of 44.47 points or 3.19%; the Wilshire 5000 at 26,442.50 for a gain of 796.48 points or 3.11%; and the Dow Jones U.S. Select Dividend Index at 540.88 for a gain of 13.89 points or 2.64%.

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This article first appeared on GuruFocus.