Nasdaq Tumbles Over 200 Points; Chicago Fed National Activity Index Moves Higher In July

U.S. stocks traded lower this morning, with the Nasdaq Composite dropping more than 200 points on Monday.

The Dow traded down 1.16% to 33,317.26 while the NASDAQ fell 1.73% to 12,485.96. The S&P 500 also fell, dropping, 1.45% to 4,167.19.

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Leading and Lagging Sectors

Consumer staples shares fell by just 0.4% on Monday. Meanwhile, top gainers in the sector included Revlon, Inc. REV, up 5% and The Real Good Food Company, Inc. RGF up 4%.

In trading on Monday, energy shares dipped by 2.2%.

Top Headline

The Chicago Fed National Activity Index rose to 0.27 in July, compared to a revised reading of -0.25 in June.

Equities Trading UP

Akili Inc. AKLI shares shot up 71% to $24.00.

Shares of Graphex Group Limited GRFX got a boost, shooting 62% to $4.04 after gaining 21% on Friday. Graphex Technologies, a wholly owned U.S. subsidiary of Graphex Group Limited, highlighted U.S. expansion progress and outlined business strategy.

Signify Health, Inc. SGFY shares were also up, gaining 37% to $29.15 following media reports that Amazon.com Inc AMZN may be interested in acquiring the company.

Equities Trading DOWN

Advanced Emissions Solutions, Inc. ADES shares tumbled 32% to $4.36 after the company reported a merger with Arq Limited.

Shares of AMC Entertainment Holdings, Inc. AMC were down 31% to $12.35 as the company's APE preferred shares begin trading on the New York Stock Exchange. The preferred shares were issued to all common stockholders. The stock may also be down after cinema chain Cineworld said it may file for Chapter 11 bankruptcy.

Golden Sun Education Group Limited GSUN was down, falling 18% to $41.46 after dropping 23% on Friday.

Also check out: Wayfair, Bed Bath & Beyond And Other Big Losers From Friday

Commodities

In commodity news, oil traded down 4.5% to $86.72, while gold traded down 0.9% to $1,746.60.

Silver traded down 1.5% to $18.775 on Monday while copper fell 1.6% to $3.6075.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.9%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index fell 1%. The German DAX dropped 2.2%, French CAC 40 fell 1.8% and Italy’s FTSE MIB Index fell 1.8%.

Annual producer inflation in Germany climbed to a fresh record high of 37.2% in July from 32.7% in the previous month.

Economics

The Chicago Fed National Activity Index rose to 0.27 in July, compared to a revised reading of -0.25 in June.

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 95,345,850 cases with around 1,065,560 deaths. India confirmed a total of at least 44,348,960 cases and 527,360 deaths, while France reported over 34,354,610 COVID-19 cases with 153,500 deaths. In total, there were at least 601,186,870 cases of COVID-19 worldwide with more than 6,472,320 deaths.