U.S. equities closed higher on Monday as strength in Technology, Oil & Gas and Basic Materials shares provided upward momentum across the market. At the New York Stock Exchange close, the Dow Jones Industrial Average rose 0.09% to register a new all-time high, while the S&P 500 increased 0.26% and the Nasdaq Composite gained 0.42%.
Among Dow components, the session’s most substantial advances came from Salesforce Inc (NYSE:CRM), which climbed 9.66% - a gain of 18.46 points - to finish at 209.56. International Business Machines (NYSE:IBM) added 7.52% or 22.39 points to close at 320.19, and NVIDIA Corporation (NASDAQ:NVDA) rose 6.29% or 13.29 points to end the day at 224.43.
Not all blue-chips participated in the rally. Amazon.com Inc (NASDAQ:AMZN) was the largest decliner among Dow names, dropping 3.47% or 9.40 points to settle at 261.24. Sherwin-Williams Co (NYSE:SHW) slipped 3.00% or 9.11 points to close at 294.73, and Merck & Company Inc (NYSE:MRK) fell 2.96% or 3.51 points to finish at 115.21.
Within the S&P 500, several stocks recorded outsized moves. MGM Resorts International (NYSE:MGM) posted a 16.08% gain to 50.69, CDW Corp (NASDAQ:CDW) advanced 12.38% to 140.98, and Gartner Inc (NYSE:IT) rose 10.79% to close at 179.70.
On the downside for the S&P 500, FedEx Corporation (NYSE:FDX) plunged 17.79% to 338.49 in late trade. Cboe Global Markets Inc (NYSE:CBOE) declined 9.56% to 301.66, and Qualcomm Incorporated (NASDAQ:QCOM) was down 8.75% to 229.06 at the close.
The Nasdaq Composite’s session leaders were dominated by highly volatile small-cap listings. CID HoldCo Inc (NASDAQ:DAIC) jumped 3,142.86% to 4.54, CDT Environmental Technology Investment Holdings Ltd (NASDAQ:CDTG) surged 2,780.00% to 7.20, and Zooz Power Ltd (NASDAQ:ZOOZ) gained 1,900.00% to close at 6.08.
Conversely, a number of Nasdaq names fell sharply. Above Food Ingredients Inc (NASDAQ:ABVE) declined 80.57% to 0.11 in late trade, Zhongchao Inc (NASDAQ:ZCMD) lost 53.47% to settle at 0.08, and NextCure Inc (NASDAQ:NXTC) dropped 45.48% to 3.38 at the close.
Market breadth was negative on the NYSE, where declining issues outnumbered advancing ones 1,545 to 1,227, with 62 names unchanged. On the Nasdaq, 1,755 stocks fell, 1,662 advanced and 187 finished unchanged.
Several stocks reached notable price milestones during the session. MGM Resorts International shares hit 52-week highs after climbing 16.08% or 7.02 to 50.69. International Business Machines shares reached all-time highs with a 7.52% or 22.39 gain to 320.19. On the other end of the spectrum, Sherwin-Williams shares fell to 52-week lows, down 3.00% or 9.11 to 294.73. Above Food Ingredients Inc fell to all-time lows, dropping 80.57% or 0.47 to 0.11, and Zhongchao Inc went to all-time lows after losing 53.47% or 0.09 to 0.08. NextCure Inc declined to 52-week lows, down 45.48% or 2.82 to 3.38.
Volatility, as measured by the CBOE Volatility Index, increased 4.77% to 16.05.
Commodity markets showed divergent moves. Gold Futures for August delivery fell 1.76% or 80.80 to $4,512.20 a troy ounce. Crude oil for July delivery rose 5.71% or 4.99 to $92.35 a barrel, while the August Brent contract gained 4.57% or 4.16 to trade at $95.28 a barrel.
In currency markets, EUR/USD was essentially unchanged, moving 0.25% to 1.16, and USD/JPY was up 0.26% to 159.68. The US Dollar Index Futures increased 0.30% to 99.15.
Investment-product commentary included a mention of FDX. A promotional blurb indicated that ProPicks AI evaluates FDX alongside thousands of other companies every month using more than 100 financial metrics and uses AI to generate stock ideas that assess fundamentals, momentum, and valuation based on current data. The note asserted the AI is unbiased and referenced past winners identified by the model, naming Super Micro Computer and AppLovin as examples of notable prior returns, and invited readers to see whether FDX is currently featured in any ProPicks AI strategies or if other opportunities exist in the same space.
Summary of the session: major U.S. indexes advanced with the Dow reaching a record, driven by gains in technology, energy and materials stocks. The day featured extreme moves in select small-cap Nasdaq listings, large single-stock declines among several S&P components, rising implied volatility and mixed commodity price action.