Major Wall Street indices closed in the red on Monday as investor optimism on the much-anticipated Santa Claus rally began to fade over fears of recession gaining momentum. The Dow Jones index closed 0.49% lower, while the S&P 500 ended Monday’s session 0.9% down. The Nasdaq was the major loser, shedding 1.49% by the end of the day. Meanwhile, here are five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 0.24% lower on Monday. Sen. Elizabeth Warren (D-Mass.), who has been a long-time critic of Tesla chief Elon Musk, on Monday expressed concern that the EV-maker’s board had failed to address the risks posed by his role as Twitter CEO, reported Reuters.
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2. Amazon.com, Inc. AMZN: Shares of Amazon closed 3.35% lower on Monday. The United States Navy on Monday granted Amazon's cloud computing division a five-year enterprise software license contract worth $723.9 million, reported Reuters. With the deal, the Navy will have access to Amazon Web Services (AWS) commercial cloud environment, professional services and its training and certification courses.
3. Apple Inc AAPL: Apple shares closed 1.59% lower on Monday. The Paris Commercial Court on Monday fined Apple over 1 million euros ($1.06 million) for imposing abusive commercial clauses on French app developers for access to its App Store, Reuters reported, citing a court ruling.
4. Madrigal Pharmaceuticals Inc MDGL: Madrigal shares closed 268.07% higher on Monday. The company has announced positive topline results from the pivotal Phase 3 MAESTRO-NASH biopsy trial of resmetirom.
5. Walt Disney Co DIS: Walt Disney shares closed 4.77% lower on Monday. Reports indicate sales from the opening weekend of "Avatar: The Way of Water" came in below box office expectations. The Avatar sequel pulled in $134 million at the domestic box office during its opening weekend. Industry analysts were reportedly anticipating an opening weekend sales closer to $175 million while Disney had given estimates ranging from $135 million to $150 million.
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