Stocks were able to eke out modest gains to open the week on Monday, as a mixed set of market drivers prompted choppy trading. The major averages were all able to close in positive territory, offsetting a small portion of Friday's losses.
Trader optimism may have been boosted by data from the Institute for Supply Management - Chicago, which reported that its index of activity in the Chicago manufacturing sector rose to 56.1 in November from 54.2 in October, with a reading above 50 indicating growth in the sector. The increase by the index surprised economists, who had expected the index to slip to 53.3.
Some of the gains may have also be driven by reassurances from the Central Bank of the United Arab Emirates, which said that it would extend additional funds for local and foreign banks to cope with the financial crisis resulting from the potential failure of Dubai World.
The markets were also presented with a report from the National Retail Federation, which revealed that the average consumer spent less on Black Friday this year than last year, although the number of shoppers increased compared to last year.
The major averages all saw upside in late session dealing, closing just off of their best levels of the day. The Dow gained 34.92 points or 0.3 percent to close at 10,344.84, the Nasdaq rose by 6.16 points or 0.3 percent to 2,144.60 and the S&P 500 advanced by 4.14 points or 0.4 percent to 1,095.63.
Sector News
Commercial real estate stocks were some of the day's strongest performers, as reflected by the 4.1 percent gain recorded by the Morgan Stanley REIT Index on the session. With the advance, the index was able to offset the majority of last week's losses.
HCP Inc. (HCP) was one of the sector's more notable performers, advancing by 5.3 percent. The gain propelled the stock to its best closing price in over a year.
Banking stocks also saw strong gains, with the Kbw Bank Index climbing by 3.4 percent. The advance helped the index to bounce off of the three and a half week closing low set on Friday.
Brokerage, utility and oil stocks also rose, while healthcare provider and tobacco stocks retained the bulk of their losses, helping to limit the day's gains by the major averages. The Morgan Stanley Healthcare Provider Index and the NYSE Arca Tobacco Index fell by 1.9 percent and 1.6 percent, respectively.
The healthcare provider index dropped to its worst level in just over two and a half months, while the tobacco index fell to a three and a half week closing low.
Dow Components
JP Morgan Chase (JPM) was the Dow's leading percentage gainer, climbing by 2.8 percent. With the advance, the stock was able to recover from its worst level in nearly four months, set on Friday.
Bank of America (BAC) and American Express (AXP) also saw notable gains, rising by 2.5 percent and 2.4 percent, respectively. Bank of America remained in a trading range, while American Express jumped to a sixteen-month closing high.
Caterpillar (CAT), Travelers (TRV) and 3M (MMM) also rose, while weakness was visible among shares of Alcoa (AA) which fell by 1.1 percent. With the retreat, the stock saw its worst closing price in nearly a month.
Home Depot (HD) also limited the blue chip index, posting a loss of 0.9 percent. The pullback dragged the stock further off of the two-month closing high it set last week.
Other Markets
In overseas trading, stocks markets across the Asia-Pacific region ended sharply higher on Monday, regaining some ground after Friday's pullback. Japan's benchmark Nikkei 225 Index advanced by 2.9 percent, while Hong Kong's Hang Seng Index rose by 3.3 percent.
Meanwhile, the major European markets ended the day notably lower, with the U.K.'s FTSE 100 Index, the French CAC 40 Index and the German DAX Index all closing down by 1.1 percent.
In the bond markets, treasuries closed modestly higher. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, closed at 3.201 percent, a loss of 3.0 basis points.
Looking Ahead
Tuesday, the markets may be driven by trader reaction to data on national manufacturing, construction spending and pending home sales.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.