U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 1,000 points on Monday.
The Dow traded down 2.73% to 38,072.59 while the NASDAQ fell 3.19% to 15,767.59. The S&P 500 also fell, dropping, 2.86% to 5,131.53.
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Leading and Lagging Sectors
Consumer staples shares fell by just 0.7% on Monday.
In trading on Monday, consumer discretionary shares tumbled by 3.1%.
Top Headline
Comerica Incorporated (NYSE:CMA) reported better-than-expected earnings for its first quarter on Monday.
The company posted quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.15 per share. The company reported quarterly sales of $829.00 million which missed the analyst consensus estimate of $831.34 million.
Equities Trading UP
- Upexi, Inc. (NASDAQ:UPXI) shares shot up 619% to $16.31 after the company announced a private placement with approximately $100 million in gross proceeds.
- Shares of SHF Holdings, Inc. (NASDAQ:SHFS)got a boost, surging 93% to $4.12 after gaining 18% on Thursday. SHF Holdings announced a strategic partnership with FundCanna to expand access to capital for cannabis operators.
- Wolverine World Wide, Inc. (NYSE:WWW) shares were also up, gaining 8% to $11.62. Baird analyst Jonathan Komp upgraded the rating for Wolverine World Wide from Neutral to Outperform.
Equities Trading DOWN
- Thunder Power Holdings, Inc. (NASDAQ:AIEV) shares dropped 63% to $0.0506 after the company received delisting notice from the Nasdaq.
- Shares of New Fortress Energy Inc. (NASDAQ:NFE) were down 12% to $5.03 after the company announced a $700 million proposed offering of senior notes.
- TechTarget, Inc. (NASDAQ:TTGT) was down, falling 11% to $7.26. Informa TechTarget announced the receipt of Nasdaq notification of non-compliance regarding delayed 2024 Form 10-K filing.
Commodities
In commodity news, oil traded down 2.6% to $62.97 while gold traded up 3.3% at $3,439.00.
Silver traded up 1.2% to $32.850 on Monday, while copper rose 1% to $4.7835.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.29%, Germany's DAX 40 declined 0.64% and France's CAC 40 dipped 0.76%. Spain's IBEX 35 Index slipped 0.2%, while London's FTSE 100 fell 0.18%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 1.30%, China's Shanghai Composite gaining 0.45% and India's BSE Sensex gaining 1.09%.
Economics
No major economic data is scheduled for release today.
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