Midway through trading Monday, the Dow traded down 0.10% to 35,053.40 while the NASDAQ fell 0.36% to 14,046.74. The S&P also fell, dropping, 0.26% to 4,488.93.
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Leading and Lagging Sectors
Energy shares rose by 1.6% on Monday. Meanwhile, top gainers in the sector included Calumet Specialty Products Partners, L.P. CLMT, up 9% and PBF Energy Inc. PBF up 6%.
In trading on Monday, communication services shares tumbled by 1.3%.
Tyson Foods Inc TSN posted better-than-expected earnings for its first quarter on Monday.
Tyson Foods posted quarterly earnings of $2.87 per share, beating analysts’ estimates of $1.90 per share. The company’s quarterly sales came in at $12.93 billion, versus market expectations of $12.18 billion.
Tyson Foods expects FY22 sales to be in the upper end of $49 billion - $51 billion, versus the consensus of $50.35 billion.
Equities Trading UP
Anghami Inc. ANGH shares shot up 57% to $18.87 following its recent listing on NASDAQ.
Shares of Nuvectis Pharma, Inc. NVCT got a boost, shooting 50% to $4.8650. The company, on Friday, priced its IPO at $5 per share.
Bakkt Holdings, Inc. BKKT shares were also up, gaining 25% to $5.41.
Executives Buy More Than $28M Of 4 Stocks
Equities Trading DOWN
American Rebel Holdings, Inc. AREB shares tumbled 17% to $2.50. American Rebel Holdings reported pricing of $10.5 million public offering.
Shares of Dermata Therapeutics, Inc. DRMA were down 35% to $1.45. Dermata Therapeutics has requested the FDA to waive the requirements to complete a 90-day dermal minipig study and a standard dermal pharmacokinetics study before the End of Phase 2 meeting for its DMT310 acne program.
Cerence Inc. CRNC was down, falling 34% to $41.72 after the company issued Q2 sales guidance below estimates and lowered FY22 sales guidance below estimates. The company also said CFO Mark Gallenberger will retire effective March 11, 2022.
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In commodity news, oil traded down 0.6% to $91.72, while gold traded up 0.6% to $1,818.40.
Silver traded up 2.3% Monday to $22.985 while copper fell 0.6% to $4.4620.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.9%, London’s FTSE 100 gained 0.9%, while Spain’s IBEX 35 Index rose 0.2%. The German DAX rose 0.9%, French CAC 40 rose 1% and Italy’s FTSE MIB Index fell 0.9%.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The Investor Movement Index for January is scheduled for release at 12:30 p.m. ET.
Data on consumer credit for December will be released at 3:00 p.m. ET.
Check out the full economic calendar here
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 77,150,410 cases with around 920,820 deaths. India confirmed a total of at least 41,952,710 cases and 500,080 deaths, while Brazil reported over 26,099,730 COVID-19 cases with 630,000 deaths. In total, there were at least 389,010,750 cases of COVID-19 worldwide with more than 5,733,250 deaths.
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