U.S. stocks traded mixed this morning, with the Nasdaq Composite dropping over 50 points on Monday.
Following the market opening Monday, the Dow traded up 0.04% to 33,760.87 while the NASDAQ fell 0.46% to 11,094.75. The S&P 500 also fell, dropping, 0.25% to 3,955.56.
Also check this: Investor Optimism Declines After US Stocks Settle Lower
Leading and Lagging Sectors
Communication services shares rose by 0.6% on Monday. Leading the sector was strength from Snail, Inc. SNAL.
In trading on Monday, energy dipped by 3.4%.
Walt Disney Co's DIS replaced CEO Bob Chapek with Robert Iger, the company's former chairman and CEO, who left the company at the end of last year.
Equities Trading UP
- Imago BioSciences, Inc. IMGO shares shot up 104% to $35.49 after Merck announced it would acquire the company for $36 per share in cash.
- Shares of NWTN Inc. NWTN got a boost, shooting 55% to $7.88.
- SeaStar Medical Holding Corporation ICU shares were also up, gaining 50% to $5.86.
Equities Trading DOWN
- TuanChe Limited TC shares tumbled 68% to $2.21. Tuanche reported pricing of $15 million registered direct offering.
- Shares of CN Energy Group. Inc. CNEY were down 34% to $1.34 after dropping 18% on Friday.
- Niu Technologies NIU was down, falling 14% to $3.06 after reporting downbeat quarterly earnings.
In commodity news, oil traded down 4.9% to $76.15 while gold traded down 0.7% at $1,742.90.
Silver traded down 0.7% to $20.85 on Monday while copper fell 1.3% to $3.5845.
European shares were mixed today. The eurozone’s STOXX 600 gained 0.2%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index rose 0.7%. The German DAX fell 0.1%, French CAC 40 climbed 0.1% and Italy’s FTSE MIB Index fell 1.1%.
The annual producer inflation in Germany eased to 34.5% in October versus a record level of 45.8% in the prior month.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with the Japan’s Nikkei gaining 0.16% and Hong Kong’s Hang Seng Index falling 1.87%. China’s Shanghai Composite Index fell 0.39%.
The annual inflation rate in Hong Kong fell to 1.8% in October compared to a seven-year high of 4.4% in the prior month. The People's Bank of China maintained its key lending rates at November fixing.
The Chicago Fed National Activity Index declined to -0.05 in October versus a revised reading of +0.17 in September.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,209,100 cases with around 1,102,660 deaths. India confirmed a total of at least 44,670,430 cases and 530,580 deaths, while France reported over 37,348,830 COVID-19 cases with 158,160 deaths. In total, there were at least 643,209,060 cases of COVID-19 worldwide with more than 6,626,370 deaths.
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