Source: Sharecast
At the close, the Dow Jones Industrial Average was up 0.18% at 51,267.90, while the S&P 500 advanced 0.66% to 7,773.95 and the Nasdaq Composite saw out the session 1.05% firmer at 27,477.31.
The Dow closed 90.94 points higher on Monday, extending gains recorded in the previous session after a sharp slowdown in the labour market eased concerns about a near-term interest rate hike, while oil prices fell after the G7 said it would release fuel reserves.
However, the 10‑year Treasury continued to head higher on Monday after climbing to its highest level in more than two decades last week, stoking concern that higher borrowing costs could continue to weigh on equities even if the Fed opts to keep policy steady. The yield on the benchmark 10-year Treasury note was up nearly three basis points at 5.312% on Monday, while the 30-year note was more than five basis points higher at 5.665%.
Oil prices also drew an amount of investor attention on Monday, with international benchmark Brent crude futures closing 1.89% lower at $100.32 a barrel, while West Texas Intermediate crude was down 1.8% at $89.43 a barrel.
This week's primary focus will likely be minutes from the Federal Reserve Open Markets Committee's latest two-day meeting, due out on Wednesday, with investors set to thumb over the release for any hint as to what the central bank may be thinking with regards to the near-term future of monetary policy.
On Monday's macro slate, US service sector activity accelerated sharply in September, with the S&P Global services PMI jumping to 58.8 and the composite PMI rising to 58.4, both marking the strongest expansions in more than five years. The services index posted a fourth consecutive monthly gain as business activity surged on the back of the fastest rise in new orders in four‑and‑a‑half years, while firms also stepped up hiring at the quickest pace since June 2022. The composite PMI showed similarly robust momentum across both manufacturing and services, with output rising in line with a rapid increase in new business.
Elsewhere, the Institute for Supply Management said US services activity continued to expand in September, with the Services PMI easing slightly to 54.9 from 55.4 but still marking a 27th straight month in growth territory. The ISM said business activity remained solid despite a softer reading, while new orders stayed strong at 59.8, only marginally below August's level. Hiring picked up after a recent soft patch, with the employment index rising to 50.1 and moving back into expansion for the first time in three months. The ISM's Steve Miller said the sector continued to show resilience, with demand holding firm even as activity and new orders moderated slightly from August's highs.
No major corporate earnings were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Cisco Systems Inc. (CSCO) $112.82 2.84%
Visa Inc. (V) $369.71 2.51%
Dow Chemical Co. (DOW) $28.51 1.93%
Unitedhealth Group Inc. (UNH) $378.58 1.80%
Walt Disney Co. (DIS) $103.61 1.39%
Microsoft Corp. (MSFT) $525.18 1.12%
Coca-Cola Co. (KO) $86.51 1.00%
3M Co. (MMM) $163.19 0.80%
Procter & Gamble Co. (PG) $145.94 0.71%
McDonald's Corp. (MCD) $233.04 0.50%
Dow Jones - Fallers
Intel Corp. (INTC) $116.19 -6.40%
Merck & Co. Inc. (MRK) $139.54 -3.30%
Salesforce.Com Inc. (CRM) $229.79 -2.09%
Johnson & Johnson (JNJ) $252.93 -1.21%
Goldman Sachs Group Inc. (GS) $893.46 -1.01%
Amgen Inc. (AMGN) $402.98 -0.63%
Home Depot Inc. (HD) $281.15 -0.60%
International Business Machines Corporation (CDI) (IBM) $221.58 -0.48%
Boeing Co. (BA) $192.72 -0.43%
Verizon Communications Inc. (VZ) $45.85 -0.15%
S&P 500 - Risers
Seagate Technology Plc (STX) $887.09 9.66%
Bath & Body Works, Inc. (BBWI) $17.46 8.72%
Illumina Inc. (ILMN) $293.69 8.35%
Harley-Davidson Inc. (HOG) $26.19 6.68%
FMC Corp. (FMC) $9.00 6.64%
Mattel Inc. (MAT) $16.05 6.19%
Western Digital Corp. (WDC) $441.64 5.80%
TripAdvisor Inc. (TRIP) $8.79 5.27%
Dxc Technology Company (DXC) $11.66 5.05%
Global Payments Inc. (GPN) $82.18 4.85%
S&P 500 - Fallers
Nektar Therapeutics (NKTR) $42.22 -10.03%
CH Robinson Worldwide Inc (CHRW) $140.61 -9.44%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Lennar Corp. Class A (LEN) $74.44 -6.73%
Intel Corp. (INTC) $116.19 -6.40%
Robert Half Inc. (RHI) $34.32 -4.98%
Chipotle Mexican Grill Inc. (CMG) $30.85 -4.67%
Bristol-Myers Squibb (BMY) $58.81 -3.83%
Equity Residential (EQR) $63.66 -3.50%
Ross Stores Inc. (ROST) $226.37 -3.36%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $1,860.61 10.05%
Seagate Technology Plc (STX) $887.09 9.66%
Illumina Inc. (ILMN) $293.69 8.35%
Western Digital Corp. (WDC) $441.64 5.80%
Autodesk Inc. (ADSK) $221.56 3.95%
Broadcom Inc. (AVGO) $362.51 3.81%
Tesla Inc (TSLA) $378.73 3.32%
Paypal Holdings Inc (PYPL) $54.41 3.23%
Monster Beverage Corp (MNST) $43.51 2.92%
Cisco Systems Inc. (CSCO) $112.82 2.84%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Intel Corp. (INTC) $116.19 -6.40%
Ross Stores Inc. (ROST) $226.37 -3.36%
Align Technology Inc. (ALGN) $140.65 -3.21%
Cognizant Technology Solutions Corp. (CTSH) $58.17 -2.99%
Micron Technology Inc. (MU) $1,063.96 -2.84%
Charter Communications Inc. (CHTR) $107.77 -2.82%
American Airlines Group (AAL) $12.83 -2.20%
Verisk Analytics Inc. (VRSK) $163.28 -2.01%
Regeneron Pharmaceuticals Inc. (REGN) $726.47 -1.87%