U.S. stocks traded lower midway through trading, with the Dow Jones dropping more than 450 points on Monday.
The Dow traded down 1.38% to 33,243.24 while the NASDAQ fell 2.11% to 12,436.54. The S&P 500 also fell, dropping, 1.69% to 4,156.92.
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Leading and Lagging Sectors
Energy shares fell by just 0.3% on Monday. Meanwhile, top gainers in the sector included Tsakos Energy Navigation Limited (NYSE:TNP), up 6% and Peabody Energy Corporation (NYSE:BTU) up 7%.
In trading on Monday, consumer discretionary shares dipped by 2.4%.
Top Headline
The Chicago Fed National Activity Index rose to 0.27 in July, compared to a revised reading of -0.25 in June.
Equities Trading UP
Bright Minds Biosciences Inc. (NASDAQ:DRUG) shares shot up 116% to $2.7057 as the stock continued to see momentum despite the company last week announcing it is not aware of any developments that would explain the recent surge
Shares of Graphex Group Limited (NYSE:GRFX) got a boost, shooting 71% to $4.2799 after gaining 21% on Friday. Graphex Technologies, a wholly owned U.S. subsidiary of Graphex Group Limited, highlighted U.S. expansion progress and outlined business strategy.
Signify Health, Inc. (NYSE:SGFY) shares were also up, gaining 34% to $28.49 following media reports that Amazon.com Inc (NASDAQ:AMZN) may be interested in acquiring the company.
Equities Trading DOWN
Advanced Emissions Solutions, Inc. (NASDAQ:ADES) shares tumbled 32% to $4.3533 after the company reported a merger with Arq Limited.
Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) were down 39% to $11.00 as the company's APE preferred shares begin trading on the New York Stock Exchange. The preferred shares were issued to all common stockholders. The stock may also be down after cinema chain Cineworld said it may file for Chapter 11 bankruptcy.
iMedia Brands, Inc. (NASDAQ:IMBI) was down, falling 28% to $1.24 after the company cut Q2 sales outlook.
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Commodities
In commodity news, oil traded down 3.8% to $87.33, while gold traded down 0.8% to $1,749.40.
Silver traded down 0.6% to $18.95 on Monday while copper fell 1% to $3.6265.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.03%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index fell 0.93%. The German DAX dropped 2.4%, French CAC 40 fell 1.99% and Italy’s FTSE MIB Index fell 1.86%.
Annual producer inflation in Germany climbed to a fresh record high of 37.2% in July from 32.7% in the previous month.
Economics
The Chicago Fed National Activity Index rose to 0.27 in July, compared to a revised reading of -0.25 in June.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 95,345,850 cases with around 1,065,560 deaths. India confirmed a total of at least 44,348,960 cases and 527,360 deaths, while France reported over 34,354,610 COVID-19 cases with 153,500 deaths. In total, there were at least 601,186,870 cases of COVID-19 worldwide with more than 6,472,320 deaths.
