US close: Mixed start to Q2 trading
By Iain Gilbert
Date: Monday 03 Apr 2023
(Sharecast News) - Wall Street stocks turned in a mixed performance on Monday but the Dow Jones still managed to kick off the second quarter in the same manner it wrapped up the first.
At the close, the Dow Jones Industrial Average was up 0.98% at 33,601.15 and the S&P 500 had advanced 0.37% to 4,124.51, while the Nasdaq Composite saw out the session 0.27% weaker at 12,189.45.
The Dow closed 327.0 points higher on Monday, extending gains recorded in the previous session.
Oil prices surged on Monday, with both West Texas Intermediate and Brent Crude up more than 6% following an announcement from Saudi Arabia and other OPEC+ members that they will make a voluntary cut to output of 5% - or around 500,000 barrels per day.
On the macro front, factory sector activity in the US softened a bit more quickly than anticipated during the previous month, according to the Institute for Supply Management's manufacturing sector purchasing managers' index, which slipped from a reading of 47.7 in February to 46.3 in March. Consensus had been for a decline to 47.1. A subindex for new orders fell from 47.0 to 44.4, denoting a faster rate of contraction than in February, while the subindex for employment slipped fell from 49.1 to 46.9, and the subindex tracking the prices paid by firms slipped from 51.3 to 49.2.
Elsewhere, S&P Global's March manufacturing PMI came in at 49.2, broadly in line with a flash estimate of 49.3 and above February's reading of 47.3, the weakest pace of contraction in the sector in the five months, as output rose for the first time since last October and employment increased modestly.
Finally, construction spending slipped 0.1% month-on-month in February, according to the Census Bureau, dropping to a seasonally adjusted annual rate of $1.84trn. The decline follows January's 0.5% rise but was broadly in line with expectations for a flat monthly reading.
No major corporate earnings were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $494.19 4.57%
Chevron Corp. (CVX) $169.95 4.16%
Walgreens Boots Alliance, Inc. (WBA) $35.46 2.54%
Merck & Co. Inc. (MRK) $108.87 2.33%
Visa Inc. (V) $229.00 1.57%
Boeing Co. (BA) $215.30 1.39%
Johnson & Johnson (JNJ) $156.85 1.19%
Amgen Inc. (AMGN) $244.44 1.11%
Dow Chemical Co. (DOW) $55.21 0.93%
McDonald's Corp. (MCD) $282.14 0.90%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $196.49 -1.65%
Nike Inc. (NKE) $121.67 -0.79%
American Express Co. (AXP) $163.78 -0.71%
3M Co. (MMM) $104.57 -0.51%
Microsoft Corp. (MSFT) $287.23 -0.37%
Walt Disney Co. (DIS) $99.76 -0.37%
Goldman Sachs Group Inc. (GS) $326.20 -0.18%
JP Morgan Chase & Co. (JPM) $130.16 -0.12%
Dowdupont Inc. (DWDP) $0.00 0.00%
Cisco Systems Inc. (CSCO) $52.31 0.07%
S&P 500 - Risers
Marathon Oil Corp. (MRO) $26.33 9.89%
ConocoPhillips (COP) $108.42 9.28%
Apache Corp. (APA) $39.20 8.71%
Hess Corp. (HES) $143.33 8.44%
Halliburton Co. (HAL) $34.10 7.77%
Helmerich & Payne Inc. (HP) $38.47 7.50%
Macy's Inc. (M) $18.80 7.49%
Diamondback Energy Inc. (FANG) $144.43 6.85%
Schlumberger Ltd. (SLB) $52.33 6.58%
Eog Resources Inc. (EOG) $121.41 5.91%
S&P 500 - Fallers
Extra Space Storage (EXR) $154.13 -5.17%
Digital Realty Trust (DLR) $93.32 -5.08%
Dish Network Corp. (DISH) $9.05 -3.00%
Paychex Inc. (PAYX) $111.33 -2.84%
Truist Financial Corp. (TFC) $33.13 -2.84%
Comerica Inc. (CMA) $42.17 -2.81%
Zions Bancorporation (ZION) $29.12 -2.71%
Automatic Data Processing Inc. (ADP) $216.81 -2.61%
Southwest Airlines Co. (LUV) $31.69 -2.61%
CH Robinson Worldwide Inc (CHRW) $97.01 -2.37%
Nasdaq 100 - Risers
Dollar Tree Inc (DLTR) $148.01 3.11%
Walgreens Boots Alliance, Inc. (WBA) $35.46 2.54%
Ross Stores Inc. (ROST) $108.63 2.36%
O'Reilly Automotive Inc. (ORLY) $867.95 2.23%
Liberty Global plc Series A (LBTYA) $19.90 2.05%
Liberty Global plc Series C (LBTYK) $20.77 1.91%
NetEase Inc. Ads (NTES) $89.76 1.49%
T-Mobile Us, Inc. (TMUS) $146.76 1.33%
Wynn Resorts Ltd. (WYNN) $113.33 1.27%
Amgen Inc. (AMGN) $244.44 1.11%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $194.77 -6.12%
JD.com, Inc. (JD) $42.40 -3.39%
Dish Network Corp. (DISH) $9.05 -3.00%
Paychex Inc. (PAYX) $111.33 -2.84%
Automatic Data Processing Inc. (ADP) $216.81 -2.61%
American Airlines Group (AAL) $14.42 -2.24%
QUALCOMM Inc. (QCOM) $124.74 -2.23%
Idexx Laboratories Inc. (IDXX) $489.27 -2.16%
Align Technology Inc. (ALGN) $327.35 -2.03%
Expedia Group Inc. (EXPE) $95.07 -2.02%
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