US close: Wall Street ends mixed after quiet Monday session
Wall Street finished on a mixed note on Monday, as the Dow Industrials came under selling pressure even as many investors continued to cheer encouraging jobs data at the end of the previous week.
Dow Jones I.A.
38,085.80
04:30 15/10/20
Nasdaq 100
17,430.50
12:15 25/04/24
The Dow Jones Industrial Average finished down 0.62% at 25,178.61 and the S&P 500 was 0.13% lower at 2,783.02, while the Nasdaq 100 managed to climb 0.42% to 7,131.12.
Stocks racked up healthy gains on Friday after the non-farm payrolls report revealed the right combination of better-than-expected jobs growth but weaker-than-forecast wage growth, but with some of the best known names in the Industrials down by more than 1%, the broad-market index was up against some stiff headwinds early in the day.
“The numbers we saw on Friday provided the perfect balance of strong job creation and softer wage growth which does not necessarily trigger faster rate hikes,” noted Craig Erlam, senior market analyst at Oanda, earlier in the day.
“The much higher participation rate was a clear reminder that, while unemployment is at a 17-year low, there is still some slack in the economy which may take longer to sort out and explain why wage growth and inflation is so muted.”
An apparent softening in President Trump's stance on trade tariffs was also providing a boost to sentiment, after the Donald tweeted at the weekend that he was working with Australian prime minister Malcolm Turnbull to try and ensure the sunburnt country didn’t end up caught by his planned punitive metals charges.
On the corporate front, Biogen dropped 2.17% after it agreed to buy Pfizer's schizophrenia drug for up to $590m.
Optical components manufacturer Oclaro surged 27.52% after it agreed to be bought by Lumentum Holdings in a deal valued at $1.8bn, and Clorox dropped back 0.91% on the announcement that it had agreed to buy privately-held wealth and wellness company Nutranext for $700m.
There were no major US data releases due on Monday but things were set pick up over the course of the week, with inflation and retail sales figures due.
Dow Jones - Risers
General Electric Co. (GE) $15.10 1.07%
Apple Inc. (AAPL) $181.72 0.97%
Goldman Sachs Group Inc. (GS) $273.38 0.96%
Exxon Mobil Corp. (XOM) $75.24 0.91%
Nike Inc. (NKE) $66.83 0.80%
International Business Machines Corp. (IBM) $160.27 0.60%
Walt Disney Co. (DIS) $105.17 0.42%
Merck & Co. Inc. (MRK) $55.36 0.40%
Cisco Systems Inc. (CSCO) $45.55 0.40%
McDonald's Corp. (MCD) $157.71 0.30%
Dow Jones - Fallers
Boeing Co. (BA) $344.19 -2.91%
Caterpillar Inc. (CAT) $154.54 -2.37%
United Technologies Corp. (UTX) $131.48 -1.93%
American Express Co. (AXP) $97.67 -1.39%
Home Depot Inc. (HD) $179.71 -1.34%
Intel Corp. (INTC) $51.52 -1.28%
Dowdupont Inc. (DWDP) $71.34 -1.23%
Unitedhealth Group Inc. (UNH) $222.82 -1.18%
Johnson & Johnson (JNJ) $132.66 -0.85%
Walmart Inc. (WMT) $88.07 -0.73%
S&P 500 - Risers
Micron Technology Inc. (MU) $59.37 8.76%
Newell Brands Inc (NWL) $29.01 6.19%
Southwestern Energy Co. (SWN) $4.51 3.68%
Broadcom Limited (AVGO) $262.84 3.57%
Transocean Ltd. (RIG) $9.89 3.34%
Western Digital Corp. (WDC) $102.86 3.32%
First Solar Inc. (FSLR) $70.05 3.17%
Spectra Energy Corp. (SE) $11.43 3.16%
Archer-Daniels-Midland Co. (ADM) $44.53 2.84%
Cimarex Energy Co (XEC) $95.39 2.69%
S&P 500 - Fallers
CIGNA Corp. (CI) $167.31 -3.49%
HP Inc (HPQ) $23.83 -3.33%
Express Scripts Holding Co (ESRX) $78.25 -3.10%
Netflix Inc. (NFLX) $321.30 -3.06%
Boeing Co. (BA) $344.19 -2.91%
Navient Corporation (NAVI) $13.46 -2.89%
L3 Technologies Inc (LLL) $204.77 -2.68%
Tractor Supply Company (TSCO) $63.66 -2.57%
Gap Inc. (GPS) $32.24 -2.51%
Best Buy Co. Inc. (BBY) $72.07 -2.40%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $59.37 8.76%
Tesla Inc (TSLA) $345.51 5.61%
Broadcom Limited (AVGO) $262.84 3.57%
Charter Communications Inc. (CHTR) $359.22 3.35%
Western Digital Corp. (WDC) $102.86 3.32%
Expedia Inc. (EXPE) $114.44 1.98%
Biomarin Pharmaceutical Inc. (BMRN) $85.46 1.97%
Nvidia Corp. (NVDA) $249.76 1.81%
Dollar Tree Inc (DLTR) $94.29 1.72%
Lam Research Corp. (LRCX) $228.65 1.64%
Nasdaq 100 - Fallers
Express Scripts Holding Co (ESRX) $78.25 -3.10%
Netflix Inc. (NFLX) $321.30 -3.06%
Biogen Inc (BIIB) $279.90 -2.17%
PACCAR Inc. (PCAR) $67.74 -1.93%
Activision Blizzard Inc. (ATVI) $76.86 -1.74%
Hologic Inc. (HOLX) $38.93 -1.62%
Hasbro Inc (HAS) $90.07 -1.52%
Intel Corp. (INTC) $51.52 -1.28%
Automatic Data Processing Inc. (ADP) $117.53 -1.09%
T-Mobile Us, Inc. (TMUS) $64.55 -1.07%