Nasdaq Dips Over 3%; Checkpoint Therapeutics Shares Jump

U.S. stocks traded lower this morning, with the Dow Jones index falling around 1% on Monday.

Following the market opening Monday, the Dow traded down 1.01% to 42,370.97 while the NASDAQ dipped 3.21% to 17,612.44. The S&P 500 also fell, dropping, 1.97% to 5,656.29.

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Leading and Lagging Sectors

Energy shares rose by 1.3% on Monday.

In trading on Monday, information technology shares dipped by 3.6%.

Top Headline

President Donald Trump, on Sunday, did not rule out the possibility of a recession this year. Acknowledging the potential of short-term turbulence from his economic agenda, he expressed confidence in future prosperity. In a Fox News interview, he said, "I hate to predict things like that" and called the changes being brought about by his administration as "very big."

Equities Trading UP

Sharps Technology, Inc. STSS shares shot up 102% to $0.5989.
Shares of Redfin Corporation RDFNgot a boost, surging 69% to $9.85 after Rocket Companies announced it will acquire the company in an all-stock transaction valued at $12.50 per share.
Checkpoint Therapeutics, Inc. CKPT shares were also up, gaining 64% to $4.0550 after Sun Pharma announced it will acquire the company in a $365 million deal.

Equities Trading DOWN

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NET Power Inc. NPWR shares dropped 58% to $2.89 after the company reported fourth-quarter GAAP loss of 46 cents per share versus a year-ago profit of 34 cents per share.
Shares of China SXT Pharmaceuticals, Inc. SXTC were down 36% to $2.9050.
Able View Global Inc. ABLV was down, falling 28% to $1.2494.

Commodities

In commodity news, oil traded up 0.7% to $67.50 while gold traded down 0.1% at $2,910.40.

Silver traded up 0.5% to $32.970 on Monday, while copper fell 0.3% to $4.6975.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.9%, Germany's DAX 40 fell 1.3% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index fell 1%, while London's FTSE 100 fell 0.7%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan's Nikkei gaining 0.38%, China's Shanghai Composite Index falling 0.19% and Hong Kong's Hang Seng Index falling 1.85%, India's BSE Sensex falling 0.29%.

Economics

Data on consumer inflation expectations will be released today.

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