Stock Market News For Dec 31, 2019
Zacks Investment Research | Dec 30, 2019 09:12PM ET
Benchmarks notched their worst decline in nearly four weeks on Monday. There wasn’t any particular catalyst behind such decline, as stocks mostly gained in the final few weeks of this year on optimism over the initial trade agreement between the United States and China.
The Dow Jones Industrial Average (DJI) fell 183.12 points or 0.6%, to close at 28,462.14 and the S&P 500 slipped 18.73 points or 0.6% to close at of 3,221.29. While, the Nasdaq Composite Index closed at 8,945.99, sliding 60.62 points or 0.7%. The fear-gauge CBOE Volatility Index (VIX) increased 9.4% to close at 14.82. Declining issues outnumbered advancing one for a 1.14-to-1 ratio on the NYSE and a 1.20-to-1 ratio on the Nasdaq favored decliners.
How Did the Benchmarks Perform?
Monday, all the three indexes performed the worst in about four weeks.
But despite the drop on Monday, the Dow has gained of 22% so far this year, while the S&P 500 rose 28.5% in the same period. The Nasdaq Composite also rose nearly 36% year-to-date.
Microsoft Corporation (NASDAQ:MSFT) , Visa Inc. (NYSE:V) and JPMorgan Chase & Co. (NYSE:JPM) are among the Dow’s biggest winners this year and the stocks ended in red on Monday as investors took profits. Microsoft and Visa have gained 55.2% and 42.4% this year. Visa carries a Zacks Rank #3 (Hold). You can see Zacks Investment Research
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