Following the market opening Monday, the Dow traded down 2.31% to 33,885.81 while the NASDAQ fell 1.67% to 14,186.04. The S&P also fell, dropping 1.94% to 4,243.38.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 34,080,000 cases with around 609,020 deaths. India confirmed a total of at least 31,144,220 cases and 414,100 deaths, while Brazil reported over 19,376,570 COVID-19 cases with 542,210 deaths. In total, there were at least 190,467,680 cases of COVID-19 worldwide with more than 4,089,900 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer staples shares slipped by just 0.4% on Monday. Meanwhile, top gainers in the sector included TDH Holdings, Inc. PETZ, up 10%, and The Kroger Co. KR, up 3%.
In trading on Monday, energy shares tumbled 4.7%.
AutoNation, Inc. AN reported stronger-than-expected earnings for its second quarter on Monday.
AutoNation reported quarterly adjusted earnings of $4.83 per share, beating analysts’ estimates of $2.58 per share. The company’s revenue came in at $6.98 billion, versus expectations of $6.02 billion. AutoNation also reported a $1 billion buyback plan.
Equities Trading UP
Cytokinetics, Incorporated CYTK shares shot up 52% to $29.31 after the company disclosed topline results from Cohorts 1 and 2 of REDWOOD-HCM.
Shares of NRx Pharmaceuticals, Inc. NRXP got a boost, shooting 37% to $11.64 after the company announced it presented evidence that its ZYESAMI helps prevent "Cytokine Storm" in patients with COVID-19.
Aehr Test Systems AEHR shares were also up, gaining 31% to $4.47 after the company won a $10.8 million single purchase order from its lead silicon carbide test and burn-in customer for multiple FOX-XP systems and complete sets of WaferPak Contactors to meet their increased production capacity needs.
Equities Trading DOWN
Red Cat Holdings, Inc. RCAT shares tumbled 43% to $4.0488 after the company priced 13.33 million shares at $4.5 per share to raise $60 million in a secondary public offering.
Shares of China SXT Pharmaceuticals, Inc. SXTC were down 20% to $1.70 after jumping more than 40% on Friday.
Alzamend Neuro, Inc. ALZN was down, falling 19% to $5.02. Alzamend Neuro, earlier during the month, announced it submitted an Investigational New Drug application to the US FDA for the initiation of a Phase 1 clinical study of AL001.
In commodity news, oil traded down 5.1% to $68.16, while gold traded down 0.1% to $1,814.00.
Silver traded down 1.8% Monday to $25.325 while copper fell 2.8% to $4.2040.
European shares were lower today. The eurozone’s STOXX 600 fell 2.6%, the Spanish Ibex Index fell 2.7% and the German DAX 30 dropped 2.9%. Meanwhile, the London’s FTSE 100 fell 2.7%, French CAC 40 declined 2.9% and Italy’s FTSE MIB fell 3.6%.
Construction output in the Eurozone surged 13.6% year-over-year in May compared to a record 45.2% growth in the earlier month.
The NAHB housing market index dropped to 80 in July from 81 in the prior month, .
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
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