Mid-Afternoon Market Update: Crude Oil Dips 5.5%; Anavex Shares Spike Higher

Toward the end of trading Monday, the Dow traded down 0.19 percent to 16,315.94 while the NASDAQ dipped 0.81 percent to 4,605.97. The S&P also fell, dropping 0.55 percent to 1,911.56.

On Monday, non-cyclical consumer goods & services shares gained by 0.25 percent. Meanwhile, top gainers in the sector included

, up 6 percent, and

, up 5 percent. In trading on Monday, energy shares tumbled by 2.46 percent. Meanwhile, top losers in the sector included

, down 20 percent, and

, down 17 percent.

agreed to be acquired by Shire PLC (ADR)

for $32 billion.

shares shot up 85 percent to $7.60 after the company reported a share repurchase program of $2 million. Shares of

got a boost, shooting up 50 percent to $13.83 as

agreed to acquire Affymetrix for $1.3 billion in cash.

shares were also up, gaining 9 percent to $5.03 after the company reported positive dose-response data for ANAVEX 2-73 in Alzheimer's disease patients.

shares dropped 11 percent to $22.83 after the company reported weak preliminary fourth quarter and full-year 2015 results. Shares of

were down 11 percent to $162.63. McKesson revised its FY16 earnings forecast. The company's EPS range was lowered from $12.50-$13 to $12.60-$12.90, against the consensus analysts estimate of $12.83.

was down, falling around 13 percent to $6.94 after the company issued a weak sales forecast.

In commodity news, oil traded down 5.52 percent to $31.33, while gold traded down 0.24 percent to $1,095.30. Silver traded down 0.49 percent Monday to $13.85, while copper fell 2.50 percent to $1.97.

European shares closed lower today. The eurozone's STOXX 600 declined 0.33 percent, the Spanish Ibex Index fell 0.26 percent, while Italy's FTSE MIB Index dropped 0.57 percent. Meanwhile, the German DAX slipped 0.25 percent, and the French CAC 40 dropped 0.49 percent, while U.K. shares fell 0.69 percent.

On the economics calendar Monday, there is no important data due out.