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U.S. stocks traded lower midway through trading, with the Dow Jones dropping around 75 points on Monday.
The Dow traded down 0.23% to 32,845.17 while the NASDAQ fell 1.24% to 10,573.06. The S&P 500 also fell, dropping, 0.62% to 3,828.58.
Also check this: Dow Records Losses For Second Straight Week But Investor Optimism Improves
Leading and Lagging Sectors
Energy shares rose by 0.8% on Monday. Meanwhile, top gainers in the sector included Tidewater Inc. TDW, up 5%, and Mammoth Energy Services, Inc. TUSK, up 6%.
In trading on Monday, consumer discretionary shares tumbled by 1.5%.
Top Headline
The NAHB housing market index declined two points to a reading of 31 in December, recording the weakest reading since mid 2012.
Equities Trading UP
- Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) shares shot up 223% to $205.86 after the company announced resmetirom achieved both primary endpoints in NASH and liver fibrosis trial.
- Shares of Camber Energy, Inc. CEI got a boost, shooting 98% to $0.1230 after the company announced an anticipated effective date of December 21, 2022 for its previously-announced 1-for-50 reverse stock split.
- Qumu Corporation QUMU shares were also up, gaining 97% to $0.8681 after Enghouse Systems announced it will acquire the company for $0.90 per share in cash.
Equities Trading DOWN
- Cosmos Health Inc. (NASDAQ: COSM) shares tumbled 56% to $10.22 after the company reported pricing of $32.5 million registered direct offering and concurrent private placement priced at-the-market.
- Shares of Forward Pharma A/S FWP were down 38% to $1.63. Forward Pharma announced expected delisting of its American Depositary Shares from the Nasdaq Capital Market.
- Neptune Wellness Solutions Inc. NEPT was down, falling 20% to $0.2801. Neptune Wellness Solutions reported a net loss of $37.3 million for the fiscal second quarter 2023 versus a year-ago net loss of $12.1 million. Its net sales revenue declined to $12 million from $12.5 million.
Also check out: Bright Health And 2 Other Stocks Under $1 Insiders Are Aggressively Buying
Commodities
In commodity news, oil traded up 1.6% to $75.48 while gold traded down 0.1% at $1,797.60.
Silver traded down 0.7% to $23.155 on Monday while copper rose 0.5% to $3.7785.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.36%, London’s FTSE 100 rose 0.53% while Spain’s IBEX 35 Index rose 0.48%. The German DAX gained 0.39%, French CAC 40 rose 0.43% and Italy’s FTSE MIB Index gained 0.10%.
Construction output in the Eurozone increased 2.2% year-over-year in October. Hourly labor costs in the Eurozone climbed by 2.9% year-over-year in the third quarter, while wages and salaries in the rose 2.1% percent year- over -year during the quarter.
The Ifo Business Climate indicator for Germany increased for a third straight month to 88.6 in December, recording the highest level since August.
Asia Pacific Markets
Asian markets closed lower on Monday, with the Japan’s Nikkei dropping 1.05% and Hong Kong’s Hang Seng Index declining 0.50%. China’s Shanghai Composite Index fell 1.92%.
Economics
The NAHB housing market index declined two points to a reading of 31 in December, recording the weakest reading since mid 2012.
Check out this: 5 Stock Picks For Last Week From Benzinga’s Most Accurate Analysts
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 101,760,140 cases with around 1,112,970 deaths. India confirmed a total of at least 44,677,200 cases and 530,670 deaths, while France reported over 38,891,690 COVID-19 cases with 160,350 deaths. In total, there were at least 657,938,940 cases of COVID-19 worldwide with more than 6,672,420 deaths.
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Image and article originally from www.benzinga.com. Read the original article here.