Mixed Close: DIA Rises 0.35% While QQQ Slips 0.70% as Tech Lags

U.S. stocks finished mixed on Monday, Oct. 12, a session held despite the Columbus Day holiday. DIA rose 0.35% to 517.91, while QQQ slipped 0.70% to 746.04, a decline of 5.23 points. SPY was nearly flat, down 0.06% at 778.10, and the small-cap IWM fell 0.37% to 277.90. SPY's decline amounted to 0.47 points, while DIA gained 1.80 points and IWM lost 1.04 points.

Eight of the 11 sector funds rose. Energy (XLE) led with a 1.43% gain to 66.01, followed by Consumer Staples (XLP), up 1.18%, and Communication Services (XLC), up 0.97%. Real Estate (XLRE) gained 0.75% and Health Care (XLV) added 0.69%, Financials (XLF) gained 0.59% and Utilities (XLU) rose 0.53%. Technology (XLK) was the weakest sector, falling 1.22% to 196.36, while Consumer Discretionary (XLY) lost 0.51% and Industrials (XLI) edged down 0.06%.

Among large caps, META rose 3.38% to 742.96, ACN gained 2.78% to 214.87 and VZ added 2.71% to 42.78. ABT rose 2.23% and CRM gained 2.09%. Among decliners, ORCL fell 2.84% to 137.39, CSCO lost 2.58% to 115.34 and AMD declined 2.28% to 594.24. AVGO slipped 1.88% and ADBE fell 1.71%.

Reuters reported “Nvidia's China AI-chip share falls as Huawei closes gap, report finds.” Barron's daily wrap was headlined “Review & Preview: Birthday Bull.” The Wall Street Journal reported “Nikkei Falls 2.0% Amid Geopolitical Tensions.”

The VIX closed at 15.21 and the high-yield option-adjusted spread was 3.11%, according to FRED. Treasury yield data were not updated for the holiday, with the 10-year last at 5.24% as of Oct. 9.

Data

Data: FMP, FRED. Figures are close-to-close unless stated.

In the news

• Reuters: Nvidia's China AI-chip share falls as Huawei closes gap, report finds
• Barron's: Review & Preview: Birthday Bull
• WSJ: Nikkei Falls 2.0% Amid Geopolitical Tensions