U.S. equity markets closed higher on Monday, with buying concentrated in Technology, Utilities and Financials, pushing the benchmark indices into positive territory by the session's end.
At the New York Stock Exchange close, the Dow Jones Industrial Average rose 0.64%. The S&P 500 increased 0.50% and the Nasdaq Composite climbed 0.43%.
Notable movers on the Dow
- Cisco Systems Inc (CSCO) led gains on the Dow, advancing 3.24% - a move of 2.42 points to finish at 77.01.
- Apple Inc (AAPL) added 2.97%, or 7.37 points, to close at 255.41.
- Caterpillar Inc (CAT) rose 1.48%, gaining 9.30 points to end the session at 635.92.
Decliners among Dow components
- 3M Company (MMM) fell 1.94%, or 3.16 points, to 159.52 at the close.
- Boeing Co (BA) slipped 1.52%, down 3.82 points to 248.33.
- UnitedHealth Group (UNH) dropped 1.30%, losing 4.62 points to finish at 351.64.
S&P 500 individual leaders and laggards
- Arista Networks (ANET) was the top S&P performer, rising 5.38% to 143.68.
- Baker Hughes Co (BKR) gained 4.36% to settle at 56.27.
- Akamai Technologies Inc (AKAM) climbed 3.75% to close at 98.65.
- Conversely, Intel Corporation (INTC) was the largest S&P decliner, falling 5.74% to 42.49.
- Darden Restaurants Inc (DRI) lost 4.72%, settling at 196.43.
- Steel Dynamics Inc (STLD) declined 4.41% to 173.32 at the close.
Extreme moves on the Nasdaq Composite
- 22nd Century Group Inc (XXII) recorded a dramatic gain of 1,515.71% to finish at 11.31.
- Brand Engagement Network Inc (BNAI) rose 276.70% to settle at 62.08.
- Check Cap Ltd (MBAI) gained 112.08% to close at 3.16.
- On the downside, Dogness International Corp Class A (DOGZ) tumbled 76.21% to 2.70.
- Happy City Holdings Ltd (HCHL) dropped 55.01% to settle at 2.20.
- Nvni Group Ltd (NVNI) fell 39.52% to 1.76 at the close.
Breadth and market internals
On the NYSE, declining issues outnumbered advancers by 1,403 to 1,335, with 92 issues unchanged. On the Nasdaq, 1,979 securities fell while 1,431 advanced and 158 finished unchanged.
Notable highs and lows
- Baker Hughes Co (BKR) rose to a five-year high, up 4.36% or 2.35 to 56.27.
- Dogness International Corp Class A (DOGZ) fell to all-time lows, down 76.21% or 8.65 to 2.70.
- Brand Engagement Network Inc (BNAI) moved to 52-week highs, rising 276.70% or 45.60 to 62.08.
- Happy City Holdings Ltd (HCHL) fell to all-time lows, down 55.01% or 2.69 to 2.20.
- Check Cap Ltd (MBAI) rose to 52-week highs, up 112.08% or 1.67 to 3.16.
Volatility, commodities and currencies
The CBOE Volatility Index, which tracks implied volatility on S&P 500 options, rose 0.37% to 16.15.
In commodities trading, April gold futures were reported up 0.54%, or 27.21, to $5,044.21 a troy ounce for the April contract. Crude oil for March delivery fell 0.59%, or 0.36, to $60.71 a barrel, while the April Brent contract slipped 0.38%, or 0.25, to trade at $64.82 a barrel.
Currency moves included EUR/USD quoted at 1.19, with a reported change of 0.41% noted, and USD/JPY at 154.20, down 0.98%. The U.S. Dollar Index Futures declined 0.54% to 96.88.
Market commentary
Overall, the session produced modest gains for the major U.S. averages, underpinned by strength in Technology, Utilities and Financials. At the same time, the day featured outsized moves among smaller-cap Nasdaq names and divergent performance among several large-cap components. The mix of five-year highs, 52-week highs and all-time lows across different names underscored a market with concentrated winners and notable volatility in select issues.
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