Dow Falls Over 200 Points; ISM Manufacturing PMI Rises In March

U.S. stocks traded mixed this morning, with the Dow Jones falling over 200 points on Monday.

The Dow traded down 0.57% to 39,580.90 while the NASDAQ rose 0.30% to 16,427.97. The S&P 500 also fell, dropping, 0.07% to 5,250.56.

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Leading and Lagging Sectors

Communication services shares jumped by 1.4% on Monday.

In trading on Monday, real estate shares fell by 1.4%.

Top Headline

The ISM manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.

Equities Trading UP

MediaCo Holding Inc. MDIA shares shot up 52% to $0.7960 after dipping more than 17% on Thursday.

Shares of Meta Materials Inc. MMAT got a boost, surging 35% to $4.15. Meta Materials will host a corporate update webcast on Wednesday, April 3, 2024, at 4:30 PM EDT.

Doma Holdings Inc. DOMA shares were also up, gaining 34% to $6.09 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.

Equities Trading DOWN

Eiger BioPharmaceuticals, Inc. EIGR shares dropped 41% to $2.93.

Shares of AEON Biopharma, Inc. AEON were down 41% to $6.86 after the company reported a fourth-quarter loss of 71 cents per share.

Logistic Properties Of The Americas LPA was down, falling 37% to $10.01.

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Commodities

In commodity news, oil traded up 0.2% to $83.35 while gold traded up 0.7% at $2,253.10.

Silver traded up 0.1% to $24.94 on Monday, while copper rose 1.2% to $4.0545.

Economics

The ISM Manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.

U.S. construction spending fell by 0.3% from the prior month in February.

The S&P Global manufacturing PMI was revised lower to 51.9 in March compared to a preliminary reading of 52.5.

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