Mid-Afternoon Market Update: Gold Down Over 2%; Electric Last Mile Solutions Shares Plummet

U.S. stocks traded lower toward the end of trading, with the S&P 500 dropping by more than 3% on Monday.

The Dow traded down 2.30% to 30,672.29 while the NASDAQ fell 3.90% to 10,897.65. The S&P also fell, dropping, 3.14% to 3,778.19.

Also check this: Lions Gate Entertainment And 2 Other Stocks Insiders Are Buying

Leading and Lagging Sectors

Consumer staples shares fell by just 1.4% on Monday. Meanwhile, top gainers in the sector included HF Foods Group Inc. HFFG, up 3% and AppHarvest, Inc. APPH up 2%.

In trading on Monday, consumer discretionary shares dipped by 4.3%.

Top Headline

Electro-Sensors, Inc ELSE and Mobile X Global, Inc, a connectivity-as-a-service company, agreed to merge and re-name the combined company Mobile X Global, Inc.

Mobile X Global, Inc will launch Mobile X, a new wireless brand positioned to disrupt the wireless industry.

Equities Trading UP

Day One Biopharmaceuticals, Inc. DAWN shares shot up 107% to $13.68 after the company announced initial data from the pivotal FIREFLY-1 trial of tovorafenib in relapsed pediatric low-grade glioma showed an overall response rate of 64%.

Shares of bluebird bio, Inc. BLUE got a boost, shooting 29% to $4.7993. The FDA's Advisory Committee has unanimously backed Bluebird bio’s gene therapy for a rare blood disorder.

Hillstream BioPharma, Inc. HILS shares were also up, gaining 71% to $1.3712 after it authorized a share repurchase program to acquire up to $1 million in common stock.

Equities Trading DOWN

TDH Holdings, Inc. PETZ shares tumbled 47% to $0.1451. TDH Holdings reported a 1-for-20 reverse stock split.

Shares of Electric Last Mile Solutions, Inc. ELMS were down 63% to $0.19 after the company announced it plans to file for Chapter 7 bankruptcy.

Revlon, Inc. REV was down, falling 45% to $1.1250. Shares dropped more than 50% to on Friday following a report the company was expected to file for bankruptcy.

Also check out: Insiders Buy More Than $3M Of 3 Penny Stocks


In commodity news, oil traded up 0.4% to $121.09, while gold traded down 2.4% to $1,830.20.

Silver traded down 3.2% to $21.23 on Monday while copper fell 1.9% to $4.2145.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 2.41%, London’s FTSE 100 dropped 1.53% while Spain’s IBEX 35 Index fell 2.47%. The German DAX dropped 2.43%, French CAC 40 fell 2.67% and Italy’s FTSE MIB Index dipped 2.79%.

The British economy contracted 0.3% month-over-month in April, following a 0.1% drop in March. The UK trade deficit shrank to GBP 8.5 billion in April from GBP 11.5 billion in the prior month, while industrial production dropped 0.7% from a month ago in April.


There were no major US economic releases Monday

Check out this: Pfizer And 3 Other Stocks Insiders Are Selling

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 87,321,700 cases with around 1,035,840 deaths. India confirmed a total of at least 43,232,000 cases and 524,770 deaths, while Brazil reported over 31,456,860 COVID-19 cases with 668,170 deaths. In total, there were at least 540,626,850 cases of COVID-19 worldwide with more than 6,331,680 deaths.

Posted In: NewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Afternoon Market Update