The Dow Jones Industrial Average closed at 26,680.87 on Monday with a gain of 8.92 points or 0.03%. The S&P 500 closed at 3,251.84 for a gain of 27.11 points or 0.84%. The Nasdaq Composite closed at 10,767.09 for a gain of 263.90 points or 2.51%. The VIX Volatility Index was lower at 24.46 for a loss of 1.22 points or -4.75%.
<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 higher Monday, with investors hopeful of a Covid-19 vaccine. A report from Oxford University in partnership with AstraZeneca (NYSE:AZN) showed success from early-stage human trial data testing a Covid-19 vaccine. The news follows other positive vaccine research results released last week.
The economic and earnings calendars were light on Monday ahead of one of the busiest weeks for earnings:
- IBM (NYSE:IBM): Revenue of $18.12 billion decreased -5.4% year over year and beat estimates by $400 million. Q2 GAAP EPS of $1.52 missed estimates by $0.04 and non-GAAP EPS of $2.18 beat estimates by $0.09.
- Halliburton (NYSE:HAL): Revenue of $3.2 billion decreased -46.0% year over year and missed estimates by $150 million. Q2 GAAP EPS of -$1.91 missed estimates by $1.77 and non-GAAP EPS of $0.05 beat estimates by $0.17.
- The Treasury held auctions for three-month bills at a rate of 0.120% and six-month bills at a rate of 0.130%.
In other news:
- Congress returned to Capital Hill with investors watching negotiations for new stimulus measures.
- China’s Ant Group is planning initial public offerings of shares on exchanges in Shanghai and Hong Kong.
- Chevron (NYSE:CVX) announced the acquisition of Noble.
Across sectors, technology, semiconductors, consumer discretionary and biotech led gains. In the S&P 100, the following stocks led gains:
- Amazon (NASDAQ:AMZN) 7.89%
- IBM (NYSE:IBM) 5.87%
- Microsoft(NASDAQ:MSFT) 4.48%
- Alphabet (NASDAQ:GOOG) 3.23%
- NVIDIA (NASDAQ:NVDA) 2.92%
- Mastercard (NYSE:MA) 2.75%
- PayPal (NASDAQ:PYPL) 2.75%
- Halliburton (NYSE:HAL) 2.37%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Small-Cap Stocks” data-reactid=”44″>Small-Cap Stocks
In small-caps, the Russell 2000 closed at 1,467.95 for a loss of 5.36 points or -0.36%. The S&P 600 closed at 841.87 for a loss of 5.31 points or -0.63%. The Dow Jones U.S. Small-Cap Growth Index closed at 10,344.12 for a gain of 29.69 points or 0.29%. The Dow Jones U.S. Small-Cap Value Index closed at 6,813.81 for a loss of 120.91 points or -1.74%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Other Notable Indexes” data-reactid=”46″>Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,825.67 for a loss of 10.88 points or -0.59%; the S&P 100 at 1,504.11 for a gain of 19.40 points or 1.31%; the Nasdaq 100 at 10,952.08 for a gain of 306.86 points or 2.88%; the Russell 3000 at 1,899.02 for a gain of 16.44 points or 0.87%; the Russell 1000 at 1,805.95 for a gain of 16.95 points or 0.95%; the Wilshire 5000 at 33,172.66 for a gain of 290.17 points or 0.88%; and the Dow Jones U.S. Select Dividend Index at 584.38 for a loss of 9.68 points or -1.63%.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article first appeared on GuruFocus.
” data-reactid=”49″>This article first appeared on GuruFocus.
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