U.S. Stocks Mixed as Sector Gains Counter Sector Losses
U.S. stocks closed on Monday with mixed results as gains in certain sectors drove shares higher, while losses in other sectors dragged shares lower. The Dow Jones Industrial Average added 0.33% to reach a new all-time high, while the S&P 500 fell 0.09% and the NASDAQ declined 0.30%.
Some of the top performers on the Dow Jones Industrial Average included Nike Inc, which rose 2.59% to close at $107.21, Goldman Sachs Group Inc, which gained 2.25% to end at $392.89, and 3M Company, which increased by 1.89% to $94.66 in late trading.
On the other hand, Salesforce Inc experienced a decline of 1.29% to close at $287.54, Microsoft Corporation fell 1.26% to end at $415.26, and Apple Inc was down 0.90% at $187.15.
Among the top performers on the S&P 500, VF Corporation rose 13.92% to $17.43, Diamondback Energy Inc increased by 9.38% to settle at $165.98, and Mohawk Industries Inc gained 6.61% to close at $117.28.
As for the worst performers, Motorola Solutions Inc dropped 3.20% to $320.30, ServiceNow Inc lost 3.19% to settle at $786.98, and Monolithic Power Systems Inc was down 2.98% at $729.87.
On the NASDAQ Composite, Beamr Imaging Ltd experienced a massive rise of 371.56% to close at $9.95, Renalytix AI increased by 228.00% to settle at $1.25, and Millennium Group International Holdings Ltd gained 201.94% to close at $3.11.
However, AN2 Therapeutics Inc dropped 74.50% to $5.10, Medavail Holdings Inc lost 43.22% to settle at $1.80, and TOP Financial Group Ltd was down 40.63% at $3.20.
Rising stocks outnumbered declining ones on the New York Stock Exchange with 2213 to 652, while 68 ended unchanged. On the Nasdaq Stock Exchange, 2230 stocks rose, 1223 declined, and 94 remained unchanged.
The volatility index, which measures the implied volatility of S&P 500 options, increased by 7.73% to 13.93. Gold Futures for April delivery dropped 0.24% to $2,033.85 per troy ounce. Crude oil for delivery in March rose 0.14% to $76.95 per barrel, while the April Brent oil contract fell 0.21% to $82.02 per barrel.
In currency markets, EUR/USD remained unchanged at 1.08, while USD/JPY rose 0.02% to 149.32. The U.S. Dollar Index Futures was up 0.02% at 104.01.
Analyst comment
Neutral news.
Market analysis: The U.S. stocks are expected to continue with mixed results in the near term as gains in certain sectors offset losses in others. The Dow Jones Industrial Average will likely remain at or near its all-time high, while the S&P 500 and NASDAQ may experience small declines. The overall market sentiment will be influenced by the performance of individual stocks and the global economic landscape.
