Investing.com -- U.S. stocks rose moderately on Monday, as continued weakness in China weighed on global commodities after quarterly GDP growth in the world's second-largest economy fell to its lowest level in more than six years.
The Dow Jones Industrial Average and S&P 500 Composite index fell mildly on a choppy day of trading, while the NASDAQ Composite index finished as the day's overperformer after inching up for the session. The Dow gained 14.57 or 0.08% to close Monday's session at 17,230.54, while the NASDAQ added 18.78 or 0.38% to 4,905.47 for its second straight winning session.
The S&P 500 Composite index, meanwhile, rose 0.55 or 0.03% to 2,033.66, as six of 10 sectors closed in the green. Stocks in the Energy and Basic Materials sectors lagged, each falling more than 0.85% on the session. Stocks in the Consumer Services, Consumer Goods and Health Care industries led.
On Monday, China's National Bureau of Statistics reported that GDP growth grew at 6.9% for the third quarter, decelerating at the slowest pace in more than six years. It marks the slowest period of growth in the world's second-largest economy since the first quarter of 2009 when Chinese GDP rose by 6.2%. The subdued growth also exacerbates concerns that the PBOC could adjust its benchmark interest rate, while pushing lending rates down even further.
The major indices were also hit by a sell-off in Morgan Stanley (N:MS) shares, after the prominent U.S. bank saw its revenues fall by more than $1 billion last quarter on a year-over-year basis. Morgan Stanley's earnings, meanwhile, tumbled to 0.42 per share, amid weakness in its Fixed Income Currencies and Commodities (FICC) division and continued volatility in China. Analysts expected the bank to report per share earnings of 0.62 for the quarter.
The top performer on the Dow was Nike Inc (N:NKE), which surged to a fresh all-time high on Monday after receiving an upgrade from analysts at BB&T (N:BBT) Capital. Shares in Nike reached a high of 133.51 in Monday's session before closing at 133.21, up 2.74 or 2.10% for the day. Nike shares are now up by more than 47% over the last year. The worst performer was Exxon Mobil Corporation (N:XOM), which fell 1.49 or 1.81% to close at 80.99. Crude futures slumped by more than 3% on Monday, amid the weak Chinese data.
The biggest gainer on the NASDAQ was Keurig Green Mountain Inc (O:GMCR), which rose 2.30 or 4.53% to 53.10. Shares in Keurig Green Mountain are still down by more than 60% over the last year, after plunging roughly 12% last week. The worst performer was Wynn Resorts Limited (O:WYNN), which plummeted 4.65 or 6.38% to 68.25, extending losses from last week following soft quarterly earnings.
Keurig Green Mountain was also the top performer on the S&P 500, ahead of Micron Technology Inc (O:MU), which gained 0.66 or 3.57% to 19.16. The worst performer was Hasbro Inc (O:HAS), which fell 5.60 or 7.20% to 72.18, as poor sales of girls' toys during the third quarter dragged down its third quarter results.
On the New York Stock Exchange, declining issues outnumbered advancing ones by a 1,662 to 1,453 margin.