The Dow Jones Industrial Average closed at 25,650.88 on Monday with a gain of 177.65 points or 0.70%. The S&P 500 closed at 2,783.30 for a gain of 34.37 points or 1.25%. The Nasdaq Composite closed at 7,558.06 for a gain of 136.60 points or 1.84%. The VIX Volatility Index was lower at 14.44 with a loss of 1.61 points or -10.03%.
Monday’s market movers
U.S. market indexes closed higher Monday, ending a five-day selloff. Morning news focused on Boeing’s (NYSE:BA) Ethiopian Airlines plane crash Sunday, with the stock opening lower and ending the day down 5.60%. Economic reports throughout the day helped contribute to the end-of-day gains. Specifically, retail sales reported a 0.2% gain in January after falling 1.6% in December. Business inventories also increased 0.6% in December. Also helping investor confidence was a “60 Minutes” interview with Federal Reserve Chairman Jerome Powell, who discussed healthy growth in the U.S. economy.
Overall, the day’s top economic reports included the following:
Retail sales increased 0.2% in January and 2.3% year over year. Business inventories increased 0.6% in December, in line with the consensus estimate. The Treasury held auctions for three-month bills at a rate of 2.405%, six-month bills at a rate of 2.455% and three-year notes at a rate of 2.448%. The Trump administration submitted its 2020 budget to Congress on Monday with a request for $8.6 billion in border wall funding and a total of $200 billion for infrastructure.
In the Dow Jones Industrial Average, the following stocks led gains:
In small caps, the Russell 2000 closed at 1,546.91 for a gain of 23.28 points or 1.53%. The S&P 600 closed at 948.26 for a gain of 14.08 points or 1.51%. The Dow Jones Small-Cap Growth TSM Index closed at 9,784.69 for a gain of 169.00