U.S. stocks experienced a state of flux midway through trading, with the Nasdaq Composite making modest gains on Monday.
The Dow experienced a slump of 0.04% to 38,093.41, while the NASDAQ saw an increase of 0.15% to 4,891.83. The S&P 500 also rose marginally, edging up by 0.02% to 4,891.83.
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Leading and Lagging Sectors
Consumer discretionary shares experienced a 0.3% rise on Monday.
In contrast, energy shares saw a 0.7% decline in trading on Monday.
Top Headline
The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas dropped 17 points to a reading of -27.4 in January.
Equities Trading UP
Shares of Palisade Bio, Inc. PALI soared 102% to $1.06 after the company requested the withdrawal of a recently filed registration statement. Additionally, the company announced preclinical data of its lead program PALI-2108 at the 2024 Crohn’s & Colitis Congress.
Shares of SoFi Technologies, Inc. SOFI surged 23% to $9.41 after the company disclosed better-than-expected quarterly revenue.
Cardlytics, Inc. CDLX shares also experienced a substantial increase, rising by 31% to $7.58 after the company announced it had entered into a settlement agreement with SRS and updated its preliminary fourth-quarter 2023 results.
Equities Trading DOWN
Panbela Therapeutics, Inc. PBLA witnessed a decline of 66% to $1.4499 after the company revealed the pricing of a public offering amounting to approximately $9 million.
Shares of Bullfrog AI Holdings, Inc. BFRG declines 21% to $5.58. Bullfrog AI filed a shelf offering of 786,938 shares and accompanying warrants at $6.63 per share and accompanying warrant.
Bloom Energy Corporation BE experienced a dip of 7% to $11.57 after B of A Securities downgraded the stock from Neutral to Underperform.
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Commodities
Crude oil experienced a decline of 1.3% to $77.03, while gold witnessed an upswing of 0.3% reaching $2,022.80.
Silver ascended by 0.7% to $23.03 on Monday, while copper showed an increase of 0.4% reaching $3.8655.
Euro zone
European shares displayed a mixed performance on the day. The Eurozone’s STOXX 600 rose by 0.07%, London’s FTSE 100 experienced a 0.02% rise, and Spain’s IBEX 35 Index felt a dip of 0.66%. The German DAX witnessed a fall of 0.29%, while the French CAC 40 slipped by 0.02%. Italy’s FTSE MIB Index also declined by 0.83%.
The Credit Union Consumer Sentiment Index in Ireland surged to 74.2 in January, compared to a reading of 62.4 in December.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.77%, Hong Kong’s Hang Seng Index getting a boost of 0.78%, and China’s Shanghai Composite Index witnessing a fall of 0.92%. India’s S&P BSE Sensex, on the other hand, jumped by 1.74%.
Profits earned by Chinese industrial firms fell by 2.3% year-over-year to CNY 7,685.83 billion last year. The Domestic Supply Price Index in Singapore revealed a decline of 1.1% year-over-year in December, while Malaysia’s producer prices fell by 1.3% year-over-year in December.
Economics
The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas dropped 17 points to a reading of -27.4 in January.
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