U.S. equities closed higher on Monday as gains in the Technology, Consumer Services and Industrials sectors powered broad advances across the major indexes.
At the New York close, the Dow Jones Industrial Average rose 0.92% to finish at a new all-time high. The S&P 500 climbed 1.66%, and the Nasdaq Composite led the group with a 3.07% advance.
Notable movers on the Dow
Among the 30 components of the Dow, Boeing Co (NYSE:BA) was the session's top performer, adding 4.57% - a 10.02-point gain - to end the day at 229.07. NVIDIA Corporation (NASDAQ:NVDA) gained 3.54%, up 7.26 points to 212.45, and Honeywell International Inc (NASDAQ:HON) rose 3.24%, or 7.14 points, to close at 227.45.
On the downside, Chevron Corp (NYSE:CVX) fell 3.64%, losing 6.82 points to settle at 180.40. Merck & Company Inc (NYSE:MRK) was down 3.49%, a 4.15-point decline to 114.90, and Verizon Communications Inc (NYSE:VZ) slipped 2.16%, or 1.04 points, to 47.07.
S&P 500 standouts
On the S&P 500, several memory and data storage names were among the strongest performers. Western Digital Corporation (NASDAQ:WDC) surged 16.10% to 653.53, Micron Technology Inc (NASDAQ:MU) climbed 10.84% to 1,087.99, and Seagate Technology PLC (NASDAQ:STX) gained 9.43% to 1,018.81.
Conversely, Fox Corp Class A (NASDAQ:FOXA) and Fox Corp Class B (NASDAQ:FOX) saw steep declines, falling 16.85% to 54.76 and 15.22% to 49.96, respectively. Fiserv Inc (NASDAQ:FISV) also posted a significant drop of 10.91% to 47.91.
Top and bottom performers on the Nasdaq Composite
The Nasdaq's biggest winners included a number of small-cap names. Freecast Inc A (NASDAQ:CAST) jumped 141.29% to 3.74, VS Media Holdings Ltd (NASDAQ:VSME) rose 91.42% to 3.23, and PRF Technologies Ltd (NASDAQ:PRFX) increased 82.36% to 2.48.
At the other end, Elicio Therapeutics Inc (NASDAQ:ELTX) fell 72.59% to 4.07, Functional Brands Inc (NASDAQ:MEHA) declined 54.59% to 0.02, and Context Therapeutics Inc (NASDAQ:CNTX) dropped 51.14% to 0.68.
Market breadth and notable record moves
Rising issues narrowly outnumbered decliners on the New York Stock Exchange, with 1,384 advancing, 1,376 falling and 75 unchanged. On the Nasdaq, 1,840 stocks advanced, 1,589 declined and 186 were unchanged.
Shares in Western Digital, Micron and Seagate each reached all-time highs during the session, with Western Digital up 16.10% or 90.61 to 653.53; Micron up 10.84% or 106.38 to 1,087.99; and Seagate up 9.43% or 87.77 to 1,018.81. Fiserv fell to five-year lows, down 10.91% or 5.87 to 47.91. Elicio Therapeutics hit a 52-week low, losing 72.59% or 10.78 to 4.07. Functional Brands fell to an all-time low, down 54.59% or 0.02 to 0.02.
Volatility, currencies and commodities
The CBOE Volatility Index, which measures implied volatility on S&P 500 options, declined 8.37% to 16.20, indicating a drop in option-implied market stress for the session.
On the commodities front, Gold Futures for August delivery were reported up 2.26%, a gain of 95.65 to $4,334.45 a troy ounce. Crude oil prices moved lower: the July contract fell 4.21% or 3.57 to $81.31 a barrel, while the August Brent contract slipped 4.24% or 3.70 to $83.63 a barrel.
In currency trading, EUR/USD was effectively unchanged, moving 0.18% to 1.16, while USD/JPY rose 0.07% to 160.34. The US Dollar Index Futures was down 0.06% at 99.43.
Overall, Monday's session produced a positive finish for major U.S. indexes with the Nasdaq delivering the strongest gains. Technology, Consumer Services and Industrials were the primary contributors to the rise, while select energy, healthcare and communications names underperformed.