US close: Stocks lower as recessionary fears continue to weigh on sentiment
Wall Street stocks closed lower on Monday following back-to-back losing weeks for major indices.
At the close, the Dow Jones Industrial Average was down 0.49% at 32,757.54, while the S&P 500 lost 0.90% to 3,817.66 and the Nasdaq Composite saw out the session 1.49% weaker at 10,546.03.
The Dow closed 162.92 points lower on Monday, extending losses recorded in the previous session as market participants struggled to shake off recessionary concerns after the Federal Reserve announced a 50 basis point short-term interest rate hike.
With all three major indices heading south on Monday, US stocks remained firmly on track to end the month in the red, with a Santa Claus rally now looking less likely.
On the macro front, the National Association of Home Builders' December housing market index fell from 38 in October to 33 in November - an 11th straight loss and, outside the immediate onset of the Covid-19 pandemic, the lowest reading since 2012.
Current sales conditions declined to 39 from 45, sales expectations in the next six months went down to 31 from 35, and traffic of prospective buyers fell five points to 20.
No major corporate earnings were released on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walgreens Boots Alliance, Inc. (WBA) $39.32 0.69%
Chevron Corp. (CVX) $169.88 0.69%
JP Morgan Chase & Co. (JPM) $130.06 0.60%
Salesforce.Com Inc. (CRM) $129.01 0.58%
Boeing Co. (BA) $185.68 0.53%
Travelers Company Inc. (TRV) $183.51 0.39%
3M Co. (MMM) $122.13 0.36%
Merck & Co. Inc. (MRK) $109.44 0.22%
Coca-Cola Co. (KO) $62.84 0.14%
Walmart Inc. (WMT) $142.80 0.04%
Dow Jones - Fallers
Walt Disney Co. (DIS) $85.78 -4.77%
Nike Inc. (NKE) $103.05 -2.74%
Home Depot Inc. (HD) $317.33 -1.86%
Microsoft Corp. (MSFT) $240.45 -1.73%
Apple Inc. (AAPL) $132.37 -1.59%
Visa Inc. (V) $204.82 -1.00%
Dow Chemical Co. (DOW) $49.33 -0.94%
International Business Machines Corporation (CDI) (IBM) $138.87 -0.92%
American Express Co. (AXP) $145.01 -0.88%
Cisco Systems Inc. (CSCO) $47.40 -0.86%
S&P 500 - Risers
Western Union Co. (WU) $13.49 1.58%
NRG Energy Inc. (NRG) $31.54 1.58%
Wells Fargo & Co. (WFC) $41.82 1.53%
Quest Diagnostics (DGX) $151.45 1.48%
Marathon Petroleum Corporation (MPC) $111.07 1.20%
Globe Life Inc. (GL) $117.86 1.17%
Oracle Corp. (ORCL) $80.50 1.16%
Bank of America Corp. (BAC) $32.06 1.14%
Dominion Energy Inc. (D) $59.25 1.07%
CIGNA Corp. (CI) $330.78 1.07%
S&P 500 - Fallers
Nektar Therapeutics (NKTR) $2.44 -8.27%
Under Armour Inc. Class A (UAA) $9.54 -6.01%
Carmax Inc. (KMX) $58.09 -5.45%
Wynn Resorts Ltd. (WYNN) $81.56 -5.17%
Under Armour, Inc. (UA) $8.37 -4.78%
Walt Disney Co. (DIS) $85.78 -4.77%
Norwegian Cruise Line Holdings Ltd (NCLH) $13.67 -4.54%
Vertex Pharmaceuticals Inc. (VRTX) $291.59 -4.33%
Carnival Corp. (CCL) $8.09 -4.26%
Arconic Inc. (ARNC) $21.10 -4.18%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $884.27 4.77%
JD.com, Inc. (JD) $57.19 1.06%
PACCAR Inc. (PCAR) $99.11 0.90%
Ross Stores Inc. (ROST) $114.92 0.85%
eBay Inc. (EBAY) $41.34 0.83%
Walgreens Boots Alliance, Inc. (WBA) $39.32 0.69%
Qurate Retail Inc. (QRTEA) $1.61 0.62%
O'Reilly Automotive Inc. (ORLY) $816.43 0.57%
J.B. Hunt Transport Services Inc. (JBHT) $179.53 0.49%
Kraft Heinz Co. (KHC) $40.11 0.48%
Nasdaq 100 - Fallers
Wynn Resorts Ltd. (WYNN) $81.56 -5.17%
Vertex Pharmaceuticals Inc. (VRTX) $291.59 -4.33%
Meta Platforms Inc. (META) $114.48 -4.14%
Illumina Inc. (ILMN) $191.59 -3.98%
Dish Network Corp. (DISH) $13.87 -3.75%
Hasbro Inc (HAS) $55.91 -3.37%
Amazon.Com Inc. (AMZN) $84.92 -3.35%
Expedia Group Inc. (EXPE) $85.26 -3.30%
Workday, Inc. (WDAY) $170.04 -2.96%
Adobe Systems Inc. (ADBE) $328.76 -2.89%