Nasdaq Edges Higher; ISM Manufacturing PMI Falls In May

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 0.2% on Monday.

The Dow traded down 0.49% to 42,064.07 while the NASDAQ rose 0.21% to 19,154.77. The S&P 500 also fell, dropping, 0.11% to 5,905.30.

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Leading and Lagging Sectors

Energy shares jumped by 0.6% on Monday.

In trading on Monday, real estate stocks fell by 1.5%.

Top Headline

The ISM manufacturing PMI declined to 48.5 in May compared to 48.7 in April, also missing market estimates of 49.5.

Equities Trading UP

Lyra Therapeutics, Inc. LYRA shares shot up 486% to $28.90 after the company announced its ENLIGHTEN 2 Phase 3 trial of LYR-210 met its primary endpoint.
Shares of Vera Therapeutics, Inc. VERA got a boost, surging 64% to $31.12 after the company released ORIGIN Phase 3 trial data.
Applied Digital Corporation APLD shares were also up, gaining 51% to $10.34 after the company announced a 250MW AI data center lease with CoreWeave.

Equities Trading DOWN

Verastem, Inc. VSTM shares dropped 20% to $6.01. The company provided updated data for the dose escalation part of its Phase 1/2 trial of GFH375.
Shares of SharpLink Gaming, Inc. SBET were down 37% to $48.35 after the company announced a mixed-shelf offering
Xilio Therapeutics, Inc. XLO was down, falling 32% to $0.73 after the company announced it commenced a public offering of pre-funded warrants.

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Commodities

In commodity news, oil traded up 3.3% to $62.82 while gold traded up 2.6% at $3,400.70.

Silver traded up 4.7% to $34.595 on Monday, while copper rose 3.6% to $4.8470.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 declined 0.14%, while Spain's IBEX 35 Index rose 0.36%. London's FTSE 100 rose 0.02%, Germany's DAX 40 fell 0.28% and France's CAC 40 fell 0.19% during the session.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei falling 1.30%, Hong Kong's Hang Seng Index dipping 0.57% and India's BSE Sensex declining 0.1%.

Economics

The ISM Manufacturing PMI declined to 48.5 in May compared to 48.7 in April, also missing market estimates of 49.5.
U.S. construction spending declined by 0.4% month-over-month to an annual rate of $2,152.4 billion in April following a revised 0.8% fall in March.
The S&P Global manufacturing PMI was revised lower to a reading of 52 in May versus a preliminary reading of 52.3.

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