US Indexes Close Higher to Start the Week Monday
The Dow Jones Industrial Average closed at 26,135.79 on Monday with a gain of 249.78 points or 0.96%. The S&P 500 closed at 2,923.65 for a gain of 34.97 points or 1.21%. The Nasdaq Composite closed at 8,002.81 for a gain of 106.82 points or 1.35%. The VIX Volatility Index was lower at 16.73 for a loss of 1.74 points or -9.42%.
Monday's market movers
U.S. indexes continued their rally, closing higher Monday as investors adjusted to last week's tariff reprieve announcement and looked ahead to the last of the high-profile earnings reports this week in retail companies Home Depot (NYSE:HD) and Lowe's (NYSE:LOW). The Trump administration has pushed back tariffs on over half of the newly tagged Chinese goods initially with a Sept. 1 imposition. According to the Wall Street Journal, $156 billion of the goods slated for tariff increases on Sept. 1 will be delayed. Also on the calendar for the week will be the Federal Reserve's minutes Wednesday and economists' Jackson Hole Symposium beginning Thursday. Global stimulus will be a key topic at the symposium as central bankers worldwide consider actions for economic growth.
Economic reports affecting market trading included the following:
The Treasury held auctions for three-month bills at a rate of 1.900% and six-month bills at a rate of 1.840%.
Retail e-commerce sales increased 4.2% quarter over quarter for the second quarter.
In the S&P 500, the energy, technology and consumer discretionary sectors led gains. In the Dow Jones Industrial Average, the following stocks led gains:
Cisco (NASDAQ:CSCO) 3.39%
Dow Inc. (NYSE:DOW) 2.50%
Home Depot (NYSE:HD) 2.18%
Apple (NASDAQ:AAPL) 2.13%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,509.86 for a gain of 16.22 points or 1.09%. The S&P 600 closed at 929.36 for a gain of 9.74 points or 1.06%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,755.12 for a gain of 89.25 points or 0.92%. The Dow Jones U.S. Small-Cap Value Index closed at 9,134.33 for a gain of 90.51 points or 1.00%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,891.49 for a gain of 18.27 points or 0.98%; the S&P 100 at 1,291.27 for a gain of 16.08 points or 1.26%; the Nasdaq 100 at 7,719.32 for a gain of 115.21 points or 1.52%; the Russell 3000 at 1,715.43 for a gain of 19.51 points or 1.15%; the Russell 1000 at 1,617.75 for a gain of 18.56 points or 1.16%; the Wilshire 5000 at 29,908.33 for a gain of 341.49 points or 1.15%; and the Dow Jones U.S. Select Dividend Index at 696.37 for a gain of 7.58 points or 1.10%.
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This article first appeared on GuruFocus.
