By Overview
U.S. stocks closed lower on Monday, as the Dow Jones Industrial Average pulled back from its 2023 highs. Meanwhile, smaller companies in the market experienced a catch-up rally that extended for a fourth consecutive day. While the S&P 500 and the Nasdaq Composite both recorded declines, the small-cap Russell 2000 outperformed, posting gains for the fourth session in a row. The market retreat was attributed to rising Treasury yields, which impacted the larger indexes.
Market Performance
- The S&P 500 (SPX) fell by 24.85 points, or 0.5%, to close at 4,569.78.
- The Nasdaq Composite (COMP) declined by 119.54 points, or 0.8%, ending the day at 14,185.49.
- The Dow Jones Industrial Average (DJIA) shed 41.06 points, or 0.1%, closing at 36,204.44.
Small Caps Shine
In contrast to the broader market pullback, the small-cap Russell 2000 (RUT) displayed resilience and gained 16.76 points, or 0.8%, finishing at 1,879.53. Over the past four sessions, the small-cap index has outperformed the Nasdaq by more than 5.5 percentage points. This performance marks the best stretch since June, according to Dow Jones Market Data.
Conclusion
While U.S. stocks experienced a downturn due to rising Treasury yields, smaller companies in the market showed strength with a notable rally in small-cap stocks. Investors will continue to monitor these sector dynamics closely to gauge future market trends.
Comments