The Dow Jones Industrial Average closed at 23,390.77 on Monday with a loss of 328.60 points or -1.39%. The S&P 500 closed at 2,761.63 for a loss of 28.19 points or -1.01%. The Nasdaq Composite closed at 8,192.42 for a gain of 38.85 points or 0.48%. The VIX Volatility Index was lower at 41.37 for a loss of 0.30 points or -0.72%.
<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=”13″>Monday’s market movers
U.S. indexes closed lower Monday, with coronavirus cases rising and some disappointment on OPEC’s oil agreement. The number of coronavirus cases identified passed the half million mark and increased to nearly 575,000. Deaths in the U.S. also topped the worldwide charts at over 23,000.
OPEC announced a new agreement, coming with the help of President Trump, who intervened to support a key resolution between Saudi Arabia and Mexico, holding up deal progression. From the OPEC agreement, 23 countries have committed to oil production cuts with an expected overall decrease of 9.7 million barrels a day.
Investors were also cautious ahead of the beginning of the first quarter’s earnings season. This week JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC), Citigroup (C) and Goldman Sachs (GS) will all report. Investors will also get retail sales and several key reports on the housing market.
Economic reports affecting market trading included the following:
- The Consumer Price Index was down 0.4% in March. Over the past 12 months, it had a gain of 1.5%.
- The Treasury held auctions for three-month bills at a rate of 0.280%, six-month bills at a rate of 0.290% and 69-day bills at a rate of 0.270%. The 10-year Treasury ended the day with a yield of 0.753%.
In the S&P 100, the following stocks led losses and gains:
- Caterpillar (NYSE:CAT) -8.52%
- DuPont (NYSE:DD) -5.79%
- Capital One Financial (NYSE:COF) -5.49%
- Amazon.com (NASDAQ:AMZN) +6.50% – announced plans to hire 75,000 more workers and resume non-essential orders.
- Walmart (NYSE:WMT) +2.89%
- NVIDIA (NASDAQ:NVDA) +2.46%
- Qualcomm (NASDAQ:QCOM) +2.35%
- Gilead Sciences (NASDAQ:GILD) +2.27%
- Intel (NASDAQ:INTC) +2.25%
- Apple (AAPL) +1.81% – announced plans to build coronavirus tracking into phones in partnership with Google.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-cap stocks” data-reactid=”40″>Small-cap stocks
In small caps, the Russell 2000 closed at 1,212.49 for a loss of 34.24 points or -2.75%. The S&P 600 closed at 718.35 for a loss of 24.88 points or -3.35%. The Dow Jones U.S. Small-Cap Growth Index closed at 8,110.44 for a loss of 195.50 points or -2.35%. The Dow Jones U.S. Small-Cap Value Index closed at 6,253.34 for a loss of 252.87 points or -3.89%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other notable indexes” data-reactid=”42″>Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,537.47 for a loss of 48.90 points or -3.08%; the S&P 100 at 1,266.47 for a loss of 4.73 points or -0.37%; the Nasdaq 100 at 8,332.74 for a gain of 94.21 points or 1.14%; the Russell 3000 at 1,590.32 for a loss of 18.75 points or -1.17%; the Russell 1000 at 1,513.74 for a loss of 16.31 points or -1.07%; the Wilshire 5000 at 27,792.81 for a loss of 312.54 points or -1.11%; and the Dow Jones U.S. Select Dividend Index at 567.05 for a loss of 13.67 points or -2.35%.
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