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U.S. stocks traded slightly lower this morning, with the Nasdaq Composite dropping around 100 points on Monday.
Following the market opening Monday, the Dow traded down 0.03% to 32,909.89 while the NASDAQ fell 1.01% to 10,597.00. The S&P 500 also fell, dropping, 0.40% to 3,837.00.
Also check this: Dow Records Losses For Second Straight Week But Investor Optimism Improves
Leading and Lagging Sectors
Energy shares rose by 0.4% on Monday. Meanwhile, top gainers in the sector included Tidewater Inc. TDW, up 4%, and Weatherford International plc WFRD, up 3%.
In trading on Monday, communication services shares tumbled by 1.1%.
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 233% to $212.49 after the company announced resmetirom achieved both primary endpoints in NASH and liver fibrosis trial.
- Shares of Caravelle International Group CACO got a boost, shooting 70% to $9.36.
- Viking Therapeutics, Inc. VKTX shares were also up, gaining 58% to $6.37 in sympathy with Madrigal Pharmaceuticals which announced a successful trial for liver fibrosis.
Equities Trading DOWN
- Cosmos Health Inc. (NASDAQ: COSM) shares tumbled 59% to $9.43 after the company reported pricing of $32.5 million registered direct offering and concurrent private placement priced at-the-market.
- Shares of 89bio, Inc. ETNB were down 31% to $7.30.
- NantHealth, Inc. NH was down, falling 32% to $3.90. NantHealth recently announced a 1-for-15 reverse stock split.
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 $75.45 while gold traded up 0.1% at $1,800.90.
Silver traded down 0.3% to $23.255 on Monday while copper rose 0.6% to $3.7835.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index rose 0.7%. The German DAX gained 0.4%, French CAC 40 rose 0.4% and Italy’s FTSE MIB Index gained 0.3%.
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.
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.