The Dow Jones Industrial Average closed at 27,090.72 on Monday with a gain of 132.66 points or 0.49%. The S&P 500 closed at 3,039.42 for a gain of 16.87 points or 0.56%. The Nasdaq Composite closed at 8,325.99 for a gain of 82.87 points or 1.01%. The VIX Volatility Index was higher at 13.12 for a gain of 0.47 points or 3.72%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Monday’s market movers” data-reactid=”12″>Monday’s market movers
U.S. indexes continued to rally with a fourth day of positive gains. The S&P 500 closed at a new record high of 3,039.42.
In the U.K., the European Union agreed to a Brexit extension deadline of Jan. 31. U.S. investors are planning for a rate cut this week from the Federal Reserve. Earnings continued to top headlines and investors will also be watching for this week’s gross domestic product and employment reports.
Top earnings results for Monday included the following:
- Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL): Revenue of $40.5 billion increased 20% year over year and beat estimates by $330 million. Third-quarter GAAP earnings of $10.12 per share missed estimates by $2.34.
- AT&T (NYSE:T): Reported earnings per share of 94 cents, beating estimates by 1 cent.
- Spotify (NYSE:SPOT): Reported earnings of 41 cents per share, beating estimate of -40 cents by 81 cents. Stock gained 15.65%.
- Loews (NYSE:L): Reported earnings of 74 cents per share, missing estimates by 1 cent.
- Walgreens Boots Alliance (NASDAQ:WBA): Reported earnings per share of $1.43, beating estimates by 2 cents.
Economic reports affecting market trading included the following:
- The Chicago Fed National Activity Index decreased to -0.45 in September from 0.15.
- The Goods Trade Balance report showed a deficit of $70.39 billion in September following a deficit of $73.06 billion.
- Wholesale inventories decreased 0.3% in September.
- The Treasury held auctions for three-month bills at a rate of 1.620% and six-month bills at a rate of 1.610%.
In the S&P 500, the technology and health care sectors led gains. In the S&P 100, the following stocks led gains for the day:
- AT&T (NYSE:T) 4.28%
- Qualcomm (NASDAQ:QCOM) 3.62%
- Microsoft (NASDAQ:MSFT) 2.38%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-cap stocks” data-reactid=”41″>Small-cap stocks
In small caps, the Russell 2000 closed at 1,572.43 for a gain of 13.73 points or 0.88%. The S&P 600 closed at 976.54 for a gain of 8.42 points or 0.87%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,981.80 for a gain of 76.82 points or 0.78%. The Dow Jones U.S. Small-Cap Value Index closed at 9,677.22 for a gain of 57.23 points or 0.59%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other notable indexes” data-reactid=”43″>Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,970.55 for a gain of 11.33 points or 0.58%; the S&P 100 at 1,350.50 for a gain of 9.78 points or 0.73%; the Nasdaq 100 at 8,110.67 for a gain of 81.45 points or 1.01%; the Russell 3000 at 1,780.58 for a gain of 10.26 points or 0.58%; the Russell 1000 at 1,678.77 for a gain of 9.36 points or 0.56%; the Wilshire 5000 at 31,091.54 for a gain of 177.19 points or 0.57%; and the Dow Jones U.S. Select Dividend Index at 734.41 for a gain of 0.13 points or 0.018%.
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