Crude Oil Falls 1%; US Services PMI Declines In June

U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining over 50 points on Monday.

The Dow traded up 0.02% to 42,216.40 while the NASDAQ gained 0.35% to 19,514.58. The S&P 500 also rose, gaining, 0.23% to 5,981.86.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 1.6% on Monday.

In trading on Friday, health care stocks fell by 0.3%.

Top Headline

The S&P Global US services PMI fell to 53.1 in June versus 53.7 in the previous month, and compared to market expectations of 52.9.

Equities Trading UP

Impact BioMedical Inc. IBO shares shot up 386% to $1.76. Dr Ashleys Limited and Impact BioMedical Inc. announced a strategic merger.
Shares of SpartanNash Company SPTN got a boost, surging 50% to $26.41 after the company announced it will be acquired by C&S Wholesale Grocers.
Cidara Therapeutics, Inc. CDTX shares were also up, gaining 93% to $40.54 after the company announced positive topline results from its Phase 2b NAVIGATE trial evaluating CD388, a non-vaccine preventative of seasonal influenza.

Equities Trading DOWN

Hims & Hers Health, Inc. HIMS shares dropped 28% to $45.97 after Novo Nordisk reportedly terminated its collaboration with the company.
Shares of Lipella Pharmaceuticals Inc. LIPO were down 26% to $1.23. Lipella Pharmaceuticals announced delisting from Nasdaq Capital Market.
COMPASS Pathways plc CMPS was down, falling 46% to $2.4901. The company announced it reached its primary endpoint in the ongoing Phase 3 COMP005 trial.

Commodities

In commodity news, oil traded down 1.1% to $73.05 while gold traded up 0.5% at $3,402.20.

Silver traded up 0.7% to $36.255 on Monday, while copper rose 0.1% to $4.8395.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.26%, while Spain's IBEX 35 Index fell 0.03%. London's FTSE 100 slipped 0.25%, Germany's DAX 40 declined 0.27% and France's CAC 40 fell 0.65% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.13%, Hong Kong's Hang Seng Index gaining 0.67%, China's Shanghai Composite rising 0.65% and India's BSE Sensex falling 0.62%.

Economics

The S&P Global US services PMI fell to 53.1 in June versus 53.7 in the previous month, and compared to market expectations of 52.9.
The S&P Global US manufacturing PMI came in unchanged from the previous month at 52 in June.

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