U.S. stocks opened mostly lower this morning, with the Dow Jones dropping around 170 points on Monday.
Following the market opening Monday, the Dow traded down 0.48% to 34,586.99 while the NASDAQ fell 0.39% to 13,839.03. The S&P however, rose, gaining, 0.02% to 4,463.81.
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Leading and Lagging Sectors
Energy shares jumped by 3.6% on Monday. Meanwhile, top gainers in the sector included BP Prudhoe Bay Royalty Trust (NYSE:BPT), up 16% and Camber Energy, Inc. (NYSE:CEI) up 16%.
In trading on Monday, consumer discretionary shares fell by 0.6%.
Top Headline
The Chicago Fed National Activity Index declined to 0.51 in February from 0.59 in the previous month.
Equities Trading UP
Hudson Capital Inc. (NASDAQ:HUSN) shares shot up 36% to $2.82. Hudson Capital said its Fr8PrivateFleet product secured new and existing customers, including one of Mexico’s largest food producers.
Shares of O2Micro International Limited (NASDAQ:OIIM) got a boost, shooting 29% to $4.17. O2Micro reported the receipt of a preliminary non-binding proposal to acquire the company.
Mullen Automotive, Inc. (NASDAQ:MULN) shares were also up, gaining 27% to $3.6950 after jumping around 19% on Friday.
Equities Trading DOWN
Vallon Pharmaceuticals, Inc. (NASDAQ:VLON) shares tumbled 70% to $2.2050 after releasing topline results from its Phase 1 SEAL study evaluating ADAIR, an abuse-deterrent formulation of immediate-release (IR) dextroamphetamine for attention deficit hyperactivity disorder (ADHD). The study did not meet its primary endpoint, Emax Drug Liking. ADAIR scored similarly to what was observed in an earlier proof-of-concept study.
Shares of Imperial Petroleum Inc. (NASDAQ:IMPP) were down 38% to $1.4799 after the company announced a secondary offering.
Connect Biopharma Holdings Limited (NASDAQ:CNTB) was down, falling 22% to $3.8550.
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Commodities
In commodity news, oil traded up 5.7% to $110.68, while gold traded up 0.3% to $1,935.80.
Silver traded up 1.5% Monday to $25.47 while copper fell 0.7% to $4.7085.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.1%, London’s FTSE 100 gained 0.6%, while Spain’s IBEX 35 Index fell 0.1%. The German DAX dropped 0.4%, French CAC 40 fell 0.4% and Italy’s FTSE MIB Index rose 0.6%.
Annual producer inflation in Germany surged a fresh record high for of 25.9% in February from 25% in January.
Economics
The Chicago Fed National Activity Index declined to 0.51 in February from 0.59 in the previous month.
The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.
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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 81,410,100 cases with around 997,930 deaths. India confirmed a total of at least 43,009,390 cases and 516,510 deaths, while Brazil reported over 29,630,480 COVID-19 cases with 657,260 deaths. In total, there were at least 471,192,130 cases of COVID-19 worldwide with more than 6,101,910 deaths.
