Investing.com -- U.S. stocks were relatively flat on Monday, ahead of the release of a slew of quarterly reports among prominent banks later this week.
Although equities markets remained open for the Columbus Day holiday on Monday, trading was still light due to the closure of banks, bond markets and the Securities and Exchange Commission. On Tuesday, JPM is scheduled to report its earnings for the third quarter, while Goldman Sachs (N:GS), Bank of America (N:BAC), Wells Fargo (N:WFC) and Citigroup Inc (N:C) are scheduled to release their quarterly earnings later in the week.
The Dow Jones Industrial Average and the NASDAQ Composite index rose moderately in Monday's session, extending gains from last week when U.S. equities markets had one of their strongest weeks of the year. The Dow gained 47.30 or 0.28% to 17,131.79, while the NASDAQ inched up 8.17 or 0.17% to close on Monday at 4,838.64, continuing its push back to the symbolic 5,000 level. Following a down period in September, the Dow is on track to finish with its highest monthly gains since February.
The S&P 500 Composite index, meanwhile, gained 2.55 or 0.13% to 2,017.45, as six of 10 sectors closed in the green. Stocks in the Utilities, Consumer Services and Telecommunications sectors led, while stocks in the Energy and Basic Materials industries lagged.
The top performer on the Dow was UnitedHealth Group Incorporated (N:UNH), which gained 3.16 or 2.65% to 122.43, after one of the nation's largest healthcare insurers announced plans to lower doctor visit co-pays to a number of Medicare Advantage customers in North Carolina. United Health also announced that it will renew working relationships with Sutter Health in Sacramento and Middlesex Hospital in Connecticut. The worst performer was Caterpillar Inc (N:CAT), which fell 0.83 or 1.16% to 70.48.
The biggest gainer on the NASDAQ was Electronic Arts Inc (O:EA), which rose 3.07 or 4.72% to 68.11, following its announcement that it will begin offering season passes for its popular video game Star Wars Battlefront. The worst performer was Wynn Resorts Limited (O:WYNN), which fell 4.20 or 5.57% to 71.20. Last week, Wynn Resorts rallied from near-52 week lows amid strong revenues from its Macau division during China's Golden Week holiday.
Electronic Arts (O:EA) was also the top performer on the S&P 500, just ahead of Regeneron Pharmaceuticals Inc (O:REGN), which surged 22.91 or 4.55% to 526.83. Shares in Regeneron are up by nearly 35% over the last year. The worst performer was performer was Eli Lilly and Company (N:LLY), which plummeted 6.70 or 7.78% to 79.44, after the pharmaceutical giant announced it is discontinuing the development of a key cholesterol drug.
On the New York Stock Exchange, advancing issues outnumbered declining ones by a 1,610 to 1,487 margin.