Dow Drops 75 Points; G Medical Innovations Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Nasdaq Composite dropping more than 100 points on Monday.

The Dow traded down 0.23% to 33,901.34 while the NASDAQ fell 1.25% to 11,476.46. The S&P 500 also fell, dropping, 0.68% to 4,043.02.

Check This Out: 5 On-The-Money Stock Picks For Last Week From Benzinga's Most Accurate Analysts


Leading and Lagging Sectors

  • Consumer staples shares rose by 0.3% on Monday. Meanwhile, top gainers in the sector included HF Foods Group Inc. HFFG, up 6%, and Natura &Co Holding S.A. NTCO, up 7%.
  • In trading on Monday, energy shares fell by 1.5%.


Top Headline

The Dallas Federal Reserve’s manufacturing business index increased 11.6 points to a reading of -8.4 in January.


Equities Trading UP

  • G Medical Innovations Holdings Ltd GMVD shares shot up 81% to $5.42 after the company announced it received notice of patent issuance from the United States Patent and Trademark Office (USPTO) for vital signs sensors.
  • Shares of Genius Group Limited GNS got a boost, shooting 70% to $6.73 after the company announced it would spinoff it Entrepreneur Resorts subsidiary as a separate publicly traded company.
  • Heart Test Laboratories, Inc. HSCS shares were also up, gaining 132% to $2.03 after Ascendant Capital initiated coverage on the stock with a Buy rating and a $3.30 price target.


Equities Trading DOWN

  • CN Energy Group. Inc. CNEY shares tumbled 73% to $0.58 after the company reported pricing of $10 million underwritten public offering.
  • Shares of Brera Holdings PLC BREA were down 34% to $3.1792. Brera announced its international strategy for simultaneous expansion and licensing of the Brera FC Brand in Eastern Europe, Africa, and South America, via potential acquisition and renaming football teams.
  • FiscalNote Holdings, Inc. NOTE was down, falling 27% to $3.71. FiscalNote, on Friday, reported acquisition of geopolitical data and security intelligence company, Dragonfly.

Also Check This Out: Fear & Greed Index Remains In 'Greed' Zone As Nasdaq Record Gains For Fourth Straight Week



In commodity news, oil traded down 0.8% to $79.08 while gold traded down 0.3% at $1,922.80.

Silver traded down 0.6% to $23.76 on Monday while copper fell 0.6% to $4.1980.


Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.14%, London’s FTSE 100 rose 0.29% while Spain’s IBEX 35 Index fell 0.04%. The German DAX dropped 0.12% French CAC 40 fell 0.10% and Italy’s FTSE MIB Index fell 0.31%.

The consumer confidence indicator in the Eurozone was confirmed at -20.9 in January, recording the highest level since February 2022. The services confidence indicator in the Eurozone climbed by 3.0 points from a month ago to 10.7 in January, while industry confidence indicator increased by 1.7 points to 1.3 in January.

German GDP shrank by 0.2% on quarter during the final three months of the year, following a revised 0.5% growth in the prior period. Industrial producer prices in Italy climbed 31.7% year-over-year in December. Retail sales in Spain climbed by 4% year-over-year in December, while consumer price inflation rate increased to 5.8% in January.


Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.19%, Hong Kong’s Hang Seng Index dropping 2.73% and China’s Shanghai Composite Index gaining 0.14%. India’s S&P BSE Sensex gained 0.29%.

Producer prices in Malaysia rose by 3.5% year-over-year in December following a 3.2% growth a month ago.



The Dallas Federal Reserve’s manufacturing business index increased 11.6 points to a reading of -8.4 in January.

Now Read This: Insiders Buying Adamas One And 1 Other Penny Stock


COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 104,115,370 cases with around 1,132,250 deaths. India confirmed a total of at least 44,682,710 cases and 530,740 deaths, while France reported over 39,516,460 COVID-19 cases with 164,080 deaths. In total, there were at least 674,899,740 cases of COVID-19 worldwide with more than 6,759,710 deaths.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!