US Stocks Start Week On Lower Note; Dow Dips Over 200 Points

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

Following the market opening Monday, the Dow traded down 0.67% to 32,640.99 while the NASDAQ fell 1.22% to 10,966.78. The S&P 500 also fell, dropping, 0.80% to 3,869.77.

Also check this: Grainger To Surge Over 11%? Plus This Analyst Predicts $230 For Caterpillar

Leading and Lagging Sectors

Energy shares climbed 0.7% on Monday. Leading the sector was strength from Antero Resources Corporation AR and Comstock Resources, Inc. ALPCRKP.

In trading on Monday, communication services shares fell by 1.6%.

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Global Payments Inc. GPN reported downbeat earnings for its third quarter, while sales exceeded views.

Global Payments reported third-quarter FY22 adjusted net revenue growth of 3% year-on-year (6% Y/Y in constant currency) to $2.06 billion, beating the consensus of $2.04 billion. Adjusted EPS of $2.48 missed the consensus of $2.49.


Equities Trading UP


  • Perfect Corp PERF shares shot up 77% to $19.48.
  • Shares of Terran Orbital Cor LLAP got a boost, shooting 26% to $3.22 after the company received a $100 million investment from Lockheed Martin.
  • Getty Images Holdings, Inc. GETY shares were also up, gaining 20% to $6.08.


Equities Trading DOWN

  • Quanergy Systems, Inc. QNGY shares tumbled 70% to $1.00 after the company priced its $16.7 million offering.
  • Shares of Y-mAbs Therapeutics, Inc. YMAB were down 52% to $4.30 after the FDA Oncologic Drugs Advisory Committee voted Y-mAbs did not provide sufficient evidence to conclude its treatment improves overall survival.
  • TuSimple Holdings Inc. TSP was down, falling 45% to $3.4650 following a media report stating the company is being investigated over ties to a Chinese startup. TuSimple board terminated CEO, President, and Chief Technology Officer Dr. Xiaodi Hou from his position.


Also check out: Weibo, XPeng, Li Auto And Other Big Losers From Friday


In commodity news, oil traded down 0.3% to $87.63 while gold traded down 0.2% at $1,641.20.

Silver traded down 0.4% to $19.065 on Monday while copper fell 1.3% to $3.3840.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.1%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index fell 0.1%. The German DAX rose 0.1%, French CAC 40 fell 0.2% and Italy’s FTSE MIB Index rose 0.3%.

Italian gross domestic product grew by 0.5% quarter-on-quarter during the three months to September, while retail trade in Spain rose by 0.1% in September. Retail sales in Germany rose 0.9% from a month ago in September.



  • The Chicago PMI fell to 45.2 for October from 45.7 in September.
  • The Dallas Fed manufacturing index for October will be released at 10:30 a.m. ET.
  • The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
  • Data on farm prices for September will be released at 3:00 p.m. ET.

Check out this: Market Volatility Decreases As Dow Jumps Over 800 Points

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 99,345,920 cases with around 1,095,200 deaths. India confirmed a total of at least 44,653,590 cases and 529,020 deaths, while France reported over 36,809,610 COVID-19 cases with 156,830 deaths. In total, there were at least 635,532,320 cases of COVID-19 worldwide with more than 6,594,030 deaths.

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