U.S. stocks were mixed on Monday, with the Nasdaq Composite recording a slight decline while the Dow and S&P 500 moved higher.
On Monday, the Dow rose 0.52% to 38,873.28, while the NASDAQ fell 0.10% to 15,975.16, and the S&P 500 gained 0.12% to 5,032.46.
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Energy Soars, Healthcare Recedes
Energy stocks surged by 1.1% on Monday, while healthcare shares dipped by 0.1%.
Major Headline
Martin Marietta Materials Inc MLM revealed a $2.05 billion cash deal to acquire 20 active operations across several U.S. states from affiliates of Blue Water Industries LLC (BWI Southeast).
Winners and Losers in Equities
Beamr Imaging Ltd. BMR shares skyrocketed 1,082% to $24.96 after announcing joint research with Nvidia at the ACM Mile-High-Video 2024 conference. Meanwhile, shares of ContextLogic Inc. WISH surged 45% to $6.51 following the company’s agreement to sell its operating assets and liabilities to Qoo10 for about $173 million in cash.
Millennium Group International Holdings Limited MGIH also saw a substantial gain, jumping 509% to $6.28 after a filing by YC 1926 (BVI) Limited revealed an 88.89% stake in the company.
Decline in Equities
AN2 Therapeutics, Inc. ANTX experienced a 75% drop to $4.9950 after announcing a voluntary pause in the Phase 3 part of a clinical trial. Similarly, shares of TOP Financial Group Limited TOP plummeted 40% to $3.2085 following a $5 million registered direct offering. Furthermore, Big Lots, Inc. BIG fell 30% to $3.7650 after releasing preliminary fourth-quarter results.
Commodities & Global Markets
On Monday, oil dipped by 0.1% to $76.77 and gold was down 0.3% at $2,032.00. However, silver rose by 0.7% to $22.755 and copper climbed 1% to $3.7165.
Europe and Asia Markets
European shares were in the green, with the STOXX 600 in the eurozone rising by 0.54%. In Asia Pacific, markets closed in the red, with India’s S&P BSE Sensex falling by 0.60% and Australia’s S&P/ASX 200 dropping by 0.39%.
U.S. Economic Update
The U.S. Federal budget deficit narrowed to $22 billion in January compared to a $39 billion gap recorded in the year-ago period, according to the Treasury Department.
