Market close: Dow falls 115 points following PMI print

The Dow Jones Industrial Average (^DJI) ended Monday’s session 115 points lower while the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) manage to eke out some gains.

Market Domination’s Julie Hyman recaps the day’s market performances after the ISM’s manufacturing Purchasing Managers’ Index (PMI) print and OPEC’s extended oil (CL=F, BZ=F) production cuts, while Jared Blikre reports on the day’s sector action.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video Transcript

The dow off the lows of the session down about 115 points, about 4/10 of 1%.

We got it was more economic data coming out this week.

But today we did have a measure of manufacturing that came in weaker than expected.

So interesting action on the back of that because we got a mixed picture.

The S and P 500 up about 1/10 of 1% and the NASDAQ rising about a half of 1%.

So the S and P turning around late in the session, there are a couple of asset glasses to mention before we take it to Jared, we have the tenure uh having its biggest move of the year, I believe down 11 basis points to 4.4% today, but that’s not giving that much relief to stocks interestingly enough.

And then we also earlier talked about what’s going on in the oil market, big move there as well downward, a seven just above $74 a barrel after the OPEC PLUS meeting that happened over the weekend that are for a told us about us earlier in the day.

Now let’s send it over to Jared at the New York Stock Exchange for a closer look at today’s Sector action and the other noise that was happening down there.

Oh, it’s a new set of noise.

Nice to hear the closing auction here and a lively closing bell as well.

Let’s go to the Wi Fi Interactive here.

I’m going to chart the day Sector action.

And as you noted Julie, it was the worst day for bond yields.

That means they went down the most for the year, but that’s actually usually good for equities, just not seeing it today.

So in the forefront, we got health care XL V is up the most.

That’s up 7/10 of a percent followed by communication services and tech.

Everything else in the red led to the downside by energy XL E down 2.64%.

Also, I note that industrials and utilities down over 1%.