US close: Dow Jones reclaims Friday's losses

(Sharecast News) - Wall Street stocks closed higher on Monday as major indices tried to right the ship after a brutal first week of September trading. At the close, the Dow Jones Industrial Average was up 1.20% at 40,829.59, while the S&P 500 advanced 1.16% to 5,471.05 and the Nasdaq Composite saw out the session 1.16% firmer at 16,884.60.

The Dow closed 484.18 points higher on Monday, erasing losses recorded in the previous session as market participants digested July's all-important nonfarm jobs report, which revealed nonfarm payrolls grew by just 142,000, missing the 161,000 gain expected by economists.

As far as the new week was concerned, investors will look ahead to two key inflation reports that could further influence the Federal Reserve's thinking ahead of its open market committee meeting later in the month, with August consumer and producer price reports slated for release on Wednesday and Thursday morning, respectively.

On the macro front for Monday, US wholesale inventories rose 0.2% month-on-month to $903.5bn in July, according to the Census Bureau, slightly below preliminary estimates for a 0.3% increase and following June's flat reading. Non-durable stocks gained 0.5%, while durable goods grew 0.1%. Year-on-year, wholesale inventories grew by 0.4%, down from the advance estimate of 0.6%.

Elsewhere, total consumer credit surged $25.45bn in July, according to the Federal Reserve, significantly higher than the $12.5bn increase expected by economists and well above the $5.23bn increase recorded a month earlier for the largest credit growth since November 2022.

In the corporate space, shares in software giant Oracle surged following the publication of its first-quarter earnings.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Verizon Communications Inc. (VZ) $42.73 3.84% Boeing Co. (BA) $162.91 3.36% Travelers Company Inc. (TRV) $241.15 2.83% American Express Co. (AXP) $250.71 2.81% Visa Inc. (V) $285.61 2.23% JP Morgan Chase & Co. (JPM) $216.81 2.05% Goldman Sachs Group Inc. (GS) $488.25 1.87% Amgen Inc. (AMGN) $325.92 1.67% Walgreens Boots Alliance, Inc. (WBA) $8.91 1.60% Home Depot Inc. (HD) $365.52 1.52%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $115.33 -2.06% Nike Inc. (NKE) $79.49 -1.41% Unitedhealth Group Inc. (UNH) $593.93 -0.47% 3M Co. (MMM) $128.49 -0.11% Dowdupont Inc. (DWDP) $0.00 0.00% Apple Inc. (AAPL) $220.91 0.04% Procter & Gamble Co. (PG) $175.93 0.27% Cisco Systems Inc. (CSCO) $48.70 0.41% Walt Disney Co. (DIS) $88.35 0.45% McDonald's Corp. (MCD) $291.25 0.61%

S&P 500 - Risers

United Airlines Holdings Inc (UAL) $48.75 5.96% Alaska Air Group Inc. (ALK) $39.76 5.88% Nektar Therapeutics (NKTR) $1.17 4.91% Monster Beverage Corp (MNST) $50.74 4.30% Delta Airlines Inc. (DAL) $43.83 3.93% American Airlines Group (AAL) $11.22 3.89% Verizon Communications Inc. (VZ) $42.73 3.84% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $381.57 3.80% Discover Financial Services (DFS) $133.27 3.61% Nvidia Corp. (NVDA) $106.47 3.54%

S&P 500 - Fallers

Under Armour, Inc. (UA) $7.18 -4.27% Under Armour Inc. Class A (UAA) $7.46 -4.24% Humana Inc. (HUM) $344.09 -3.94% Foot Locker Inc. (FL) $25.31 -3.90% Perrigo Company plc (PRGO) $26.62 -3.86% Bath & Body Works, Inc. (BBWI) $27.53 -3.67% Nordstrom Inc. (JWN) $22.08 -3.24% Bread Financial Holdings, Inc. (BFH) $54.06 -2.90% CenturyLink Inc. (LUMN) $5.69 -2.74% Advance Auto Parts (AAP) $38.71 -2.62%

Nasdaq 100 - Risers

Monster Beverage Corp (MNST) $50.74 4.30% American Airlines Group (AAL) $11.22 3.89% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $381.57 3.80% Nvidia Corp. (NVDA) $106.47 3.54% Seagate Technology Plc (STX) $101.34 3.43% Fastenal Co. (FAST) $68.09 3.34% Western Digital Corp. (WDC) $62.57 2.96% Cintas Corp. (CTAS) $804.72 2.92% Broadcom Inc. (AVGO) $140.82 2.79% Tesla Inc (TSLA) $216.27 2.63%

Nasdaq 100 - Fallers

Sirius XM Holdings Inc (SIRI) $2.67 -2.20% Alphabet Inc. Class C (GOOG) $149.54 -1.70% Illumina Inc. (ILMN) $122.55 -1.48% Alphabet Inc. Class A (GOOGL) $148.71 -1.46% Charter Communications Inc. (CHTR) $324.80 -0.80% Biogen Inc (BIIB) $199.22 -0.79% DENTSPLY Sirona Inc. (XRAY) $25.35 -0.78% JD.com, Inc. (JD) $25.89 -0.69% Trip.com Group Limited (TCOM) $47.26 -0.62% Workday, Inc. (WDAY) $253.52 -0.42%