Skip to main content

Market Overview

Mid-Afternoon Market Update: Dow Tumbles Over 500 Points; Calithera Biosciences Shares Slide


Toward the end of trading Monday, the Dow traded down 1.77% to 30,065.47 while the NASDAQ fell 1.83% to 12,652.84. The S&P also fell, dropping 1.83% to 3,687.43.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 20,639,850 cases with around 351,590 deaths. India confirmed a total of at least 10,340,460 confirmed cases and 149,640 deaths, while Brazil reported over 7,733,740 COVID-19 cases with 196,010 deaths. In total, there were at least 85,192,180 cases of COVID-19 worldwide with over 1,844,680 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares gained by 0.2% on Monday. Meanwhile, top gainers in the sector included Peabody Energy Corporation (NYSE: BTU), up 17%, and U.S. Silica Holdings, Inc. (NYSE: SLCA), up 28%.

In trading on Monday, real estate shares dipped 2.8%.

Top Headline

The IHS Markit manufacturing PMI increased to 57.1 in December versus a preliminary reading of 56.5 and compared to 56.7 in November.


Equities Trading UP

Bionano Genomics, Inc. (NASDAQ: BNGO) shares shot up 121% to $6.82 as the company published study on Autism risk genes after detailed analysis of The Genome of Professor Temple Grandin, who has brought awareness to autism spectrum disorder through her activism.

Shares of The9 Limited (NASDAQ: NCTY) got a boost, shooting 110% to $7.45 after the company signed a legally binding cooperation and investment term sheet with several cryptocurrencies mining investors led by Jianping Kong to start the cryptocurrencies business.

Ocugen, Inc. (NASDAQ: OCGN) shares were also up, gaining 72% to $3.1389 after the company’s partner Bharat Biotech received EUA for Covid-19 Covaxin in India. Ocugen has US rights to Covaxin.

Equities Trading DOWN

Calithera Biosciences, Inc. (NASDAQ: CALA) shares tumbled 43% to $2.79 after the company announced that its CANTATA study of Telaglenastat in Renal Cell Carcinoma did not achieve its primary endpoint. The company also announced a reduction in workforce by roughly 35%.

Shares of, Inc. (NYSE: AI) were down 12% to $122.85. JP Morgan initiated coverage on the stock with an Underweight rating and announced an $84 price target, while Morgan Stanley initiated coverage on the stock with an Underweight rating and announced a $100 price target.

Genworth Financial, Inc.. (NYSE: GNW) was down, falling 28% to $2.74 after the company announced the December 31, 2020 "end date" under the merger agreement with China Oceanwide was not extended.


In commodity news, oil traded down 1.1% to $48.01, while gold traded up 2.8% to $1,947.40.

Silver traded up 3.7% Monday to $27.39 while copper rose 1.2% to $3.5615.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 surged 0.67%, the Spanish Ibex Index rose 0.32% and the German DAX 30 gained 0.06%. Meanwhile, the French CAC 40 surged 0.68%, London’s FTSE 100 climbed 1.72% and Italy’s FTSE MIB added 0.37%.

UK manufacturing PMI climbed to 57.5 in December versus a preliminary estimate of 57.3, while German manufacturing PMI declined to 58.3 in December compared to a preliminary reading of 58.6. Eurozone manufacturing PMI was revised lower to 55.2 for December versus an initial redaing of 55.5.


The IHS Markit manufacturing PMI increased to 57.1 in December versus a preliminary reading of 56.5.

US construction spending rose 0.9% for November, versus analysts’ expectations for a 1% increase.

Federal Reserve Bank of Cleveland President Loretta Mester will speak at 6:00 p.m. ET.


Related Articles (AI + BNGO)

View Comments and Join the Discussion!

Posted-In: News Penny Stocks Eurozone Commodities Small Cap Global Intraday Update Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at