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Wall Street closed mixed on Monday, driven by energy and healthcare stocks. Equities remained stressed with labor market data showing a resilient economy and, thus, potentially slower rate cuts. Treasury yields stayed elevated with the benchmark 10-year treasury note touching multiple-month highs. Two of the three most widely followed indexes closed the session firmly in the green, while one ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.9%, or 358.67 points, to close at 42,297.12. Twenty components of the 30-stock index ended in positive territory, while 10 ended in negative.
The tech-heavy Nasdaq Composite lost 73.53 points, or 0.4%, to close at 19,088.10.
The S&P 500 gained 9.18 points, or 0.2%, to close at 5,836.22. Nine of the 11 broad sectors of the benchmark index closed in the green. The Materials Select Sector SPDR (XLB), the Energy Select Sector SPDR (XLE) and the Healthcare Select Sector SPDR (XLV) advanced 2.2%, 2.1% and 1.3%, respectively, while the Utilities Select Sector SPDR (XLU) declined 1.2%.
The fear-gauge CBOE Volatility Index (VIX) decreased 1.8% to 19.19. A total of 14.9 billion shares were traded on Monday, lower than the last 20-session average of 15.7 billion. Decliners outnumbered advancers by a 1.02-to-1 ratio on the NYSE, while on the Nasdaq Composite, declining issues had a 1.4-to-1 advantage.
Healthcare Stocks Up on Government’s 2026 Reimbursement Rates
Last week, the U.S. government proposed 2026 reimbursement rates for Medicare Advantage plans by private insurers that will bring about a 2.2% increase in payments. The total increase in payments is estimated at 4.3%. This payment rate is used by companies such as UnitedHealth Group Incorporated (UNH - Free Report) and Humana Inc. (HUM - Free Report) .
Oil prices rose 2% to a four-month high on Monday under the impression that further sanctions by the United States on Russian oil would compel global importers like China and India to look for other sources.
Brent crude increased $1.25, or 1.6%, to close at $81.01/barrel, while WTI crude rose $2.25, or 2.9%, to close at $78.82/barrel. For both benchmarks, it was their highest close since August.
U.S. 10-Year Treasury Yield Hits 14-Month High
U.S. 10-year treasury yields jumped to their highest levels since November 2023, settling near 4.79% after touching the 4.805% mark, a 14-month high. Yields have continued to grow since the turn of the year and have risen 20 basis points.
No economic data was released on Monday.
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Stock Market News for Jan 14, 2025
Wall Street closed mixed on Monday, driven by energy and healthcare stocks. Equities remained stressed with labor market data showing a resilient economy and, thus, potentially slower rate cuts. Treasury yields stayed elevated with the benchmark 10-year treasury note touching multiple-month highs. Two of the three most widely followed indexes closed the session firmly in the green, while one ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.9%, or 358.67 points, to close at 42,297.12. Twenty components of the 30-stock index ended in positive territory, while 10 ended in negative.
The tech-heavy Nasdaq Composite lost 73.53 points, or 0.4%, to close at 19,088.10.
The S&P 500 gained 9.18 points, or 0.2%, to close at 5,836.22. Nine of the 11 broad sectors of the benchmark index closed in the green. The Materials Select Sector SPDR (XLB), the Energy Select Sector SPDR (XLE) and the Healthcare Select Sector SPDR (XLV) advanced 2.2%, 2.1% and 1.3%, respectively, while the Utilities Select Sector SPDR (XLU) declined 1.2%.
The fear-gauge CBOE Volatility Index (VIX) decreased 1.8% to 19.19. A total of 14.9 billion shares were traded on Monday, lower than the last 20-session average of 15.7 billion. Decliners outnumbered advancers by a 1.02-to-1 ratio on the NYSE, while on the Nasdaq Composite, declining issues had a 1.4-to-1 advantage.
Healthcare Stocks Up on Government’s 2026 Reimbursement Rates
Last week, the U.S. government proposed 2026 reimbursement rates for Medicare Advantage plans by private insurers that will bring about a 2.2% increase in payments. The total increase in payments is estimated at 4.3%. This payment rate is used by companies such as UnitedHealth Group Incorporated (UNH - Free Report) and Humana Inc. (HUM - Free Report) .
Consequently, shares of UnitedHealth Group and Humana jumped 3.9% and 6.8%, respectively. Both currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Oil Prices Hit 4-Month High
Oil prices rose 2% to a four-month high on Monday under the impression that further sanctions by the United States on Russian oil would compel global importers like China and India to look for other sources.
Brent crude increased $1.25, or 1.6%, to close at $81.01/barrel, while WTI crude rose $2.25, or 2.9%, to close at $78.82/barrel. For both benchmarks, it was their highest close since August.
U.S. 10-Year Treasury Yield Hits 14-Month High
U.S. 10-year treasury yields jumped to their highest levels since November 2023, settling near 4.79% after touching the 4.805% mark, a 14-month high. Yields have continued to grow since the turn of the year and have risen 20 basis points.
No economic data was released on Monday.