This morning, U.S. stocks experienced a downward trend, with the Dow Jones index falling over 100 points on Monday, reflecting a decrease of 0.41% to 32,991.58. The NASDAQ also fell by 0.33% to 12,940.56, and the S&P 500 dropped by 0.33% to 4,210.14.
Leading and Lagging Sectors
In terms of sector performance, health care shares fell by just 0.1%, while energy shares dipped by 1.2%.
Top Headline: Chicago Fed National Activity Index Climbs
The Chicago Fed National Activity Index showed a positive increase, rising to +0.02 in September compared to a revised reading of -0.22 in the previous month. This indicates improved economic activity and a potential rebound in the market.
Equities Trading UP
- LumiraDx Limited (LMDX): Shares of LumiraDx Limited soared by 297% to $0.3451 following the company’s announcement of a strategic collaboration with AstraZeneca and Everton in the Community. This collaboration aims to establish England’s first community-based heart and lung screening hub.
- INVO Bioscience, Inc. (INVO): INVO Bioscience, Inc. experienced a boost, with shares surging 209% to $1.67, as the company agreed to acquire NAYA Biosciences in an all-stock transaction.
- Akumin Inc. (AKU): Akumin Inc. also saw an increase in its shares, gaining 90% to $0.2752, after the company reached an agreement with Stonepeak to become a private company.
Equities Trading DOWN
- Li-Cycle Holdings Corp. (LICY): Li-Cycle Holdings Corp. experienced a 41% decrease in its shares, dropping to $1.3499. This drop followed the company’s announcement to halt construction work on its Rochester Hub project, pending a comprehensive review of the project’s go-forward strategy.
- Revolution Medicines, Inc. (RVMD): Shares of Revolution Medicines, Inc. declined by 38% to $17.31 after the company presented clinical activity and safety data from its Phase 1/1b trial of RMC-6236.
- XORTX Therapeutics Inc. (XRTX): XORTX Therapeutics Inc. fell by 36% to $0.4081 following a significant increase of more than 100% on Friday.
In commodity news, oil traded down 0.8% at $87.39 per barrel, while gold traded down 0.2% at $1,990.30 per ounce. Silver also faced a decrease of 0.9% to $23.29 per ounce, while copper rose by 0.3% to $3.5740 per pound.
In European markets, the eurozone’s STOXX 600 fell by 0.5%, London’s FTSE 100 decreased by 0.4%, and Spain’s IBEX 35 Index fell by 0.8%. However, the German DAX declined by 0.6%, and the French CAC 40 rose by 0.1%. Italy’s FTSE MIB Index also experienced a decline of 0.1%.
Asia Pacific Markets
Asian markets closed lower on Monday, with Japan’s Nikkei 225 decreasing by 0.83%, China’s Shanghai Composite Index falling by 1.47%, and India’s S&P BSE Sensex falling by 0.8%. In Singapore, food prices rose by 4.3% year-over-year in September, reflecting an increase from the previous month.
The Chicago Fed National Activity Index climbed to +0.02 in September, showing a positive change from a revised reading of -0.22 in the previous month. Overall, various economic indicators suggest potential opportunities and challenges in the financial markets.