US Stock Market Closes Slightly Lower Amid Financials, Health Care, and Transportation Stocks Drop

The US stock market closed slightly lower on Monday, with the S&P 500 down by nearly 20 points and the Dow Jones closing 11 points down at 18,116. This decline was largely driven by losses in financials, health care, and transportation stocks, which wiped out the gains from the earlier session. In contrast, consumer goods, telecommunications, and basic materials saw an increase in demand.

Key Takeaways:

The S&P 500 missed the all-time high by just four points.
The S&P Mid Cap index touched an all-time high on Monday.
Consumer Goods, Telecommunications, and Basic Materials were in demand.
Nasdaq Composite closed 15 points lower at 5,010 due to decline in biotech stocks.
Amgen Inc, Gilead Sciences, Biogen Idec, and Celgene Corporation declined as investors sold the stocks at higher levels.
Pfizer gained 2.3 percent after a positive outlook for breast cancer and diabetes drugs under review.
Staples Inc. was among the best performing stocks after UBS rating upgrade.
Tiffany gained 5.8 percent on Monday after a decline of 4 percent on Friday.
Apple, IBM, and eBay gained over one percent.

Statistics:

S&P 500 down by nearly 20 points.
Dow Jones closed 11 points down at 18,116.
S&P Mid Cap index touched an all-time high on Monday.
S&P 500 closed at 2,104.
Nasdaq Composite closed 15 points lower at 5,010.
Amgen Inc declined by [data not provided].
Gilead Sciences declined by [data not provided].
Biogen Idec declined by [data not provided].
Celgene Corporation declined 4.3 percent and closed at 122.94.

Sources:

Stock Market (http://uncovermichigan.com/business/stock-market)
United States (http://uncovermichigan.com/region/united-states)