Crude Oil Falls Over 2%; Enerflex Shares Plunge

U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones falling more than 150 points on Monday.

The Dow traded down 0.49% to 33,344.27 while the NASDAQ rose 0.21% to 13,246.63. The S&P 500 also fell, dropping, 0.40% to 4,271.07.

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Leading and Lagging Sectors

Communication services shares rose by 0.8% on Monday.

In trading on Monday, utilities shares fell by 5.1%.

Top Headline

Construction spending increased by 0.5% month-over-month to an annual rate of $1,983.5 billion in August.

Equities Trading UP

AERWINS Technologies Inc. AWIN shares shot up 76% to $0.2130 after the company said it is considering strategic alternatives for its non-core operations.

Shares of IceCure Medical Ltd ICCM got a boost, shooting 57% to $0.8698 after the company announced that new data was presented at the European Society of Breast Imaging Scientific Meeting, validating IceCure's ProSense Cryoablation is a safe and effective outpatient procedure for breast cancer with a 96.8% success rate.

Pitney Bowes Inc. PBI shares were also up, gaining 13% to $3.4199 after announcing leadership transition. Jason Dies has been appointed interim Chief Executive Officer, effective immediately.

Equities Trading DOWN

SmileDirectClub, Inc. SDC shares dropped 62% to $0.1588 after the company filed for Chapter 11 bankruptcy.

Shares of Intelligent Bio Solutions Inc. INBS were down 56% to $0.4632 as the company announced pricing of $4,000,000 underwritten public offering.

Enerflex Ltd. EFXT was down, falling 23% to $4.40 after the company announced a CFO transition. The company said Rodney D. Gray resigned from his role as Senior Vice President and Chief Financial Officer to pursue other opportunities.

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Commodities

In commodity news, oil traded down 2.1% to $88.89 while gold traded down 1% at $1,847.80.

Silver traded down 4.7% to $21.39 on Monday while copper fell 2.7% to $3.6365.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 1.03% London’s FTSE 100 fell 1.28% while Spain’s IBEX 35 Index fell 1.16% The German DAX fell 0.91% French CAC 40 fell 0.94%, while Italy’s FTSE MIB Index fell 1.39%.

The eurozone unemployment rate declined to 6.4% in August, the lowest on record, compared to revised 6.5% in the prior month, while manufacturing PMI was fell slightly to 43.4 in September from the prior month's level of 43.5.

The S&P Global/CIPS UK’s manufacturing PMI rose slightly to 44.3 in September versus flash reading of 44.2. German manufacturing PMI was revised lower to 39.6 in September from a preliminary level of 39.8, while French manufacturing PMI rose to 44.2 in September from a preliminary estimate of 43.6.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.31% and Australia’s S&P/ASX 200 falling 0.22%.

The au Jibun Bank Japan manufacturing PMI was revised lower to 48.5 in September from a flash level of 48.6, while private home prices in Singapore rose by 0.5% quarter-on-quarter in the third quarter.

Economics

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

Construction spending increased by 0.5% month-over-month to an annual rate of $1,983.5 billion in August.

The ISM manufacturing PMI increased to 49 in September from 47.6 in the prior month, above market estimates of 47.8.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,752,790 cases with around 1,177,280 deaths. India confirmed a total of at least 44,998,830 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 696,038,990 cases of COVID-19 worldwide with more than 6,921,810 deaths.