U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dropping around 40 points on Monday.
The Dow traded up 0.05% to 33,827.42 while the NASDAQ fell 0.33% to 12,032.16. The S&P 500, also fell, dropping, 0.01% to 4,132.91.
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Leading and Lagging Sectors
- Energy shares rose by 1.7% on Monday. Meanwhile, top gainers in the sector included CBL International Limited BANL, up 11%, and Cross Timbers Royalty Trust CRT, up 9%.
- In trading on Monday, information technology shares dipped by 0.5%.
Top Headline
Koninklijke Philips N.V. PHG shares surged around 14% on Monday after the company reported strong results for its first quarter.
Philips reported a first-quarter comparable sales growth of 6% year-on-year to €4.2 billion, mainly driven by the Diagnosis & Treatment businesses.
The adjusted EBITA margin expanded by 240 bps to 8.6%.
Equities Trading UP
- Getty Images Holdings, Inc. GETY shares shot up 36% to $6.87 after Trillium Capital issued a proposal to acquire the company for $10 per share.
- Shares of Aclarion, Inc. ACON got a boost, shooting 114% to $1.5698 amid the publication of durability data for the company's back pain treatment.
- IN8bio, Inc. INAB shares were also up, gaining 185% to $3.0197 after the company announced new data from the Phase 1 investigator-sponsored trial of INB-100 in leukemia patients.
Equities Trading DOWN
- Genprex, Inc. GNPX shares dropped 18% to $0.8744. Genprex filed for mixed-securities shelf offering of up to $200 million.
- Shares of Bed Bath & Beyond Inc. BBBY were down 38% to $0.1812 after the company said it filed for bankruptcy protection
- Foghorn Therapeutics Inc. FHTX was down, falling 17% to $5.59 after the company announced it paused enrollment in the FHD-609 study and the FDA placed the study on partial clinical hold due to a grade 4 QTc prolongation event in a synovial sarcoma patient.
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Commodities
In commodity news, oil traded up 1.5% to $79.00 while gold traded up 0.4% at $1,999.30
Silver traded up 0.8% to $25.255 on Monday while copper fell 0.6% to $3.9575.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.01%, London’s FTSE 100 fell 0.02% while Spain’s IBEX 35 Index slipped 0.10%. The German DAX fell 0.11%, French CAC 40 slipped 0.04% and Italy’s FTSE MIB Index fell 0.75%.
The Ifo Business Climate indicator for Germany increased by 0.4 points from a month ago to 93.6 in April.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 gaining 0.10%, Hong Kong’s Hang Seng Index falling 0.58% and China’s Shanghai Composite Index declining 0.78%. India’s S&P BSE Sensex rose 0.5%.
Hong Kong’s unemployment rate fell to 3.1% in the three months ending March 2023, compared to 3.3% in the prior period.
Economics
The Chicago Fed National Activity Index came in unchanged at -0.19 in March, but down from market expectations of -0.02.
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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 106,578,050 cases with around 1,159,300 deaths. India confirmed a total of at least 44,891,980 cases and 531,320 deaths, while France reported over 39,950,20 COVID-19 cases with 166,280 deaths. In total, there were at least 686,514,230 cases of COVID-19 worldwide with more than 6,859,830 deaths.
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