U.S. stocks traded lower this morning, with the Nasdaq Composite dipping 1.5% on Monday.
Following the market opening Monday, the Dow traded down 0.63% to 44,262.92 while the NASDAQ dipped 1.50% to 19,334.02. The S&P 500 also fell, dropping, 1.13% to 5,972.20.
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Leading and Lagging Sectors
Consumer staples shares surged by 0.4% on Monday.
In trading on Monday, information technology shares fell by 2%.
Top Headline
Tyson Foods Inc (NYSE:TSN) posted better-than-expected first-quarter FY25 earnings result.
The company reported first-quarter FY25 sales growth of 2.3% year-on-year to $13.62 billion, beating the analyst consensus estimate of $13.44 billion.
Adjusted EBITDA for the quarter increased 29.2% to $961 million. Adjusted EPS of $1.14 beat the consensus estimate of $0.88.
Equities Trading UP
- HCW Biologics Inc. (NASDAQ:HCWB) shares shot up 129% to $0.6377 after the company announced FDA clearance for its Phase 1 trial of HCW9302.
- Shares of MDJM Ltd (NASDAQ:UOKA)got a boost, surging 92% to $0.2490.
- GH Research PLC (NASDAQ:GHRS) shares were also up, gaining 78% to $18.82 after the company’s inhalable depression treatment GH001 met the primary endpoint in its Phase 2b trial, showing symptom reduction.
Equities Trading DOWN
- Cyngn Inc. (NASDAQ:CYN) shares dropped 55% to $0.1206.
- Shares of Heramba Electric plc (NASDAQ:PITA) were down 51% to $0.4324.
- Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was down, falling 46% to $0.2292. Tonix Pharmaceuticals announced a 1-for-100 reverse stock split, effective Feb. 5.
Commodities
In commodity news, oil traded down 0.4% to $72.26 while gold traded up 0.9% at $2,861.10.
Silver traded up 0.4% to $32.390 on Monday, while copper rose 0.1% to $4.2815.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 1.5%, Germany's DAX 40 dipped 2.1% and France's CAC 40 declined 1.9%. Spain's IBEX 35 Index fell 2.1%, while London's FTSE 100 fell 1.5%.
Asia Pacific Markets
Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 2.66%, Hong Kong's Hang Seng Index fell 0.04% and India's BSE Sensex falling 0.41%.
Economics
- U.S. construction spending increased by 0.5% month-over-month to an annual rate of $2,192 billion in December following a revised 0.2% gain in November.
- The ISM manufacturing PMI for the US climbed to 50.9 in January versus a revised reading of 49.2 in December and topping estimates of 49.8.
- The S&P Global manufacturing PMI rose to 51.2 in January, versus a preliminary reading of 50.1 and compared to 49.4 in December.
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