US Stocks Mixed; Dow Falls 100 Points

U.S. stocks traded mixed this morning, with the Dow Jones falling around 100 points on Monday.

Following the market opening Monday, the Dow traded down 0.31% to 33,404.26 while the NASDAQ rose 0.38% to 13,269.83. The S&P 500 also fell, dropping, 0.09% to 4,284.19.

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Leading and Lagging Sectors

Communication services shares rose by 1% on Monday.

In trading on Monday, utilities shares fell by 1.6%.

Top Headline

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

Equities Trading UP

AERWINS Technologies Inc. AWIN shares shot up 101% to $0.2432 after the company said it is considering strategic alternatives for its non-core operations.

Shares of IceCure Medical Ltd ICCM got a boost, shooting 60% to $0.89 after the company said new data was presented at the European Society of Breast Imaging Scientific Meeting in Valencia, Spain by Lucía Graña-López, MD, PhD, principal investigator of the independent, non-sponsored study.

Femasys Inc. FEMY shares were also up, gaining 36% to $4.0635. Femasys shares jumped 46% on Friday after HC Wainwright maintained a Buy rating on the stock and raised its price target from $5 to $13.

Equities Trading DOWN

SmileDirectClub, Inc. SDC shares dropped 61% to $0.16 after the company filed for Chapter 11 bankruptcy.

Shares of Intelligent Bio Solutions Inc. INBS were down 56% to $0.4638 as the company announced pricing of $4,000,000 underwritten public offering.

Phoenix Motor Inc. PEV was down, falling 24% to $0.8210 after the company signed a non-binding convertible bond term sheet of up to $300 million in funding with a California-based investor to support the potential acquisition opportunity of commercial electric vehicle assets for which Phoenix has submitted interest.

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Commodities

In commodity news, oil traded up 0.1% to $90.83 while gold traded down 0.9% at $1,850.00.

Silver traded down 3.8% to $21.60 on Monday while copper fell 1.8% to $3.6710.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.6% London’s FTSE 100 fell 0.6% while Spain’s IBEX 35 Index fell 0.1% The German DAX fell 0.4% French CAC 40 fell 0.4%, while Italy’s FTSE MIB Index fell 0.5%.

The eurozone unemployment rate declined to 6.4% in August, the lowest on record, compared to revised 6.5% in the prior month, while manufacturing PMI was fell slightly to 43.4 in September from the prior month's level of 43.5.

The S&P Global/CIPS UK’s manufacturing PMI rose slightly to 44.3 in September versus flash reading of 44.2. German manufacturing PMI was revised lower to 39.6 in September from a preliminary level of 39.8, while French manufacturing PMI rose to 44.2 in September from a preliminary estimate of 43.6.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.31% and Australia’s S&P/ASX 200 falling 0.22%.

The au Jibun Bank Japan manufacturing PMI was revised lower to 48.5 in September from a flash level of 48.6, while private home prices in Singapore rose by 0.5% quarter-on-quarter in the third quarter.

Economics

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

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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 108,752,790 cases with around 1,177,280 deaths. India confirmed a total of at least 44,998,830 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 696,038,990 cases of COVID-19 worldwide with more than 6,921,810 deaths.