US Stocks Lower; Dow Falls Over 50 Points

U.S. stocks traded lower this morning, with the Dow Jones index falling over 50 points on Monday.

Following the market opening Monday, the Dow traded down 0.18% to 35,328.05 while the NASDAQ fell 0.13% to 14,231.78. The S&P 500 also fell, dropping, 0.25% to 4,548.14.

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Leading and Lagging Sectors

Communication services shares edged higher on Monday.

In trading on Monday, energy shares fell by 0.7%.

Top Headline

Shopify Inc SHOP merchants accomplished a record-breaking $4.1 billion in sales on Black Friday, marking a 22% increase from the previous year.

Sales peaked when collective sales reached $4.2 million per minute at 12:01 p.m. EST.

Equities Trading UP

RedHill Biopharma Ltd. RDHL shares shot up 130% to $0.7241 after the company announced the FDA has granted five years' market exclusivity for Talicia.

Shares of Biodexa Pharmaceuticals Plc BDRX got a boost, shooting 75% to $4.69 after the company announced it entered into agreements to acquire an exclusive worldwide license to tolimidone.

Tharimmune, Inc. THAR shares were also up, gaining 53% to $4.41 after the company reported Phase 1 data on TH104 for chronic pruritis in primary biliary cholangitis.

Equities Trading DOWN

BioNexus Gene Lab Corp. BGLC shares dropped 21% to $0.71 after jumping 144% on Friday.

Shares of Impel Pharmaceuticals Inc. IMPL were down 14% to $0.73 after gaining 8% on Friday. Impel Pharmaceuticals recently announced exploration of strategic alternatives.

ProQR Therapeutics N.V. PRQR was down, falling 18% to $1.21.

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Commodities

In commodity news, oil traded down 0.3% to $75.34 while gold traded up 0.5% at $2,012.40.

Silver traded up 2% to $24.82 on Monday while copper fell 0.8% to $3.7595.

Euro zone

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

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.53%, Hong Kong’s Hang Seng Index falling 0.20% and China’s Shanghai Composite Index falling 0.30%. India’s S&P BSE Sensex, meanwhile, fell 0.1%.

Hong Kong’s trade deficit increased to $25.8 billion in October from $20.9 billion in the year-ago month. Profits earned by Chinese industrial firms fell by 7.8% year-over-year to CNY 6,115.42 billion in the first ten months of 2023, compared to a 9.0 % decline in the previous period.

Economics

Data on new home sales will be released at 10:00 a.m. ET.

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