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US Indexes Close Higher Monday With New Record Highs

The Dow Jones Industrial Average closed at 28,551.53 on Monday, Dec. 23 with a gain of 96.44 points or 0.34%. The S&P 500 closed at 3,224.01 for a gain of 2.79 points or 0.09%. The Nasdaq Composite closed at 8,945.65 for a gain of 20.69 points or 0.23%. The VIX Volatility Index was higher at 12.72 for a gain of 0.21 points or 1.68%.

Monday's Market Movers

U.S. indexes closed higher Monday with another day of closing records. China announced new plans for reducing tariffs and improving economic quality. Tariff plans include broad tariff cuts on 859 types of products (ie: pork, medicine and semiconductors) applicable for all trading partners beginning Jan. 1. The country also reduced levies on 8,000 products for 23 countries involved in free trade agreements. In the private market, China says it will take steps for better market access allowance in the oil and gas sectors for private firms.

In other news:

  • Boeing's (NYSE:BA) CEO Dennis Muilenburg announced his resignation following the company's struggles with the 737 MAX.
  • The Federal Reserve Bank of New York injected $49.35 billion in money markets in efforts to support short-term borrowing stability.
  • Durable goods orders decreased by 2% in November following an increase of 0.2% the previous month. Durable goods orders excluding transportation were unchanged. Durable goods orders excluding defense increased 0.8%.
  • The Chicago Fed National Activity Index increased to 0.56 in November from -0.76 the previous month.
  • New home sales increased 1.3% in November to a seasonally adjusted annual rate of 0.719 million.
  • The U.S. Treasury held auctions for 3-month bills at a rate of 1.555%, 6-month bills at a rate of 1.57% and 2-year notes at a rate of 1.653%.

In the S&P 500, the energy and industrial sectors led gains. In the Dow Jones Industrial Average, the following stocks led gains:

  • Boeing (NYSE:BA) 2.91%
  • 3M (NYSE:MMM) 1.76%
  • Apple (NASDAQ:AAPL) 1.63%

Small-Cap Stocks

In small-caps, the Russell 2000 closed at 1,674.12 for a gain of 2.22 points or 0.13%. The S&P 600 closed at 1,022.67 for a loss of 0.21 points or 0.021%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,713.54 for a gain of 23.78 points or 0.22%. The Dow Jones U.S. Small-Cap Value Index closed at 9,971.29 for a loss of 31.80 points or 0.32%.

Other Notable Indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 2,063.39 for a loss of 2.22 points or 0.11%; the S&P 100 at 1,438.00 for a gain of 2.35 points or 0.16%; the Nasdaq 100 at 8,696.01 for a gain of 17.52 points or 0.20%; the Russell 3000 at 1,889.47 for a gain of 1.65 points or 0.087%; the Russell 1000 at 1,780.98 for a gain of 1.50 points or 0.084%; the Wilshire 5000 at 32,947.32 for a gain of 30.09 points or 0.091%; and the Dow Jones US Select Dividend Index at 755.13 for a loss of 1.89 points or 0.25%.

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This article first appeared on GuruFocus.