On Monday as market watchers awaited news from the Federal Reserve’s impending two-day meeting set to start on Tuesday, the S&P 500 (SPX) ended a four-day losing streak while the Dow Jones Industrial Average (DJIA) jumped 130 points.
The SPX closed at 1,786,55, up?11 points (0.6%) while the Dow closed up 130 points (0.8%) to 1,786.55. The?Nasdaq?Composite index (COMP) followed suit as it closed up 29 points (0.71%) to 4,029.52.
The good start to the week came after two weeks of losses for the S&P 500 and the Dow. Last week’s 1.7?percent weekly loss in the S&P 500 represented the greatest weekly fall since Aug. 30 with?Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research, saying to CNBC, “Last week’s sell off was a bit overdone, with the market reacting negatively to more positive data.”
Monday’s gains in the S&P 500 had been attributed the technology and energy sectors, reported CNBC.
One of the more active stocks on Monday was Twitter Inc. (NYSE:TWTR). It dropped?4.5 percent after Wells Fargo analysts downgraded the stock as well as analyst Robert Peck, of SunTrust Robinson Humphrey, also downgrading it to hold.
This comes as the stock had jumped 40 percent in the last two weeks.?
On Monday, Twitter closed at $56.51, down 4.05 percent. Its options actively traded, coming in as the third most active, according to Trade Alert. ?For the day, 250,014 contracts traded with 39.4 percent calls and 60.6 percent puts.?
The VIX closed at 16.03, up 1.71 percent.