Crude Oil Down 1.5%; Philips Shares Jump After Q1 Results
U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dropping around 40 points on Monday.
The Dow traded up 0.05% to 33,827.42 while the NASDAQ fell 0.33% to 12,032.16. The S&P 500, also fell, dropping, 0.01% to 4,132.91.
Check This Out: These 3 Consumer Staples Stocks With Over 3% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts
Leading and Lagging Sectors
- Energy shares rose by 1.7% on Monday. Meanwhile, top gainers in the sector included CBL International Limited (NASDAQ:BANL), up 11%, and Cross Timbers Royalty Trust (NYSE:CRT), up 9%.
- In trading on Monday, information technology shares dipped by 0.5%.
Top Headline
Koninklijke Philips N.V. (NYSE:PHG) shares surged around 14% on Monday after the company reported strong results for its first quarter.
Philips reported a first-quarter comparable sales growth of 6% year-on-year to €4.2 billion, mainly driven by the Diagnosis & Treatment businesses.
The adjusted EBITA margin expanded by 240 bps to 8.6%.
Equities Trading UP
- Getty Images Holdings, Inc. (NYSE:GETY) shares shot up 36% to $6.87 after Trillium Capital issued a proposal to acquire the company for $10 per share.
- Shares of Aclarion, Inc. (NASDAQ:ACON) got a boost, shooting 114% to $1.5698 amid the publication of durability data for the company's back pain treatment.
- IN8bio, Inc. (NASDAQ:INAB) shares were also up, gaining 185% to $3.0197 after the company announced new data from the Phase 1 investigator-sponsored trial of INB-100 in leukemia patients.
Equities Trading DOWN
- Genprex, Inc. (NASDAQ:GNPX) shares dropped 18% to $0.8744. Genprex filed for mixed-securities shelf offering of up to $200 million.
- Shares of Bed Bath & Beyond Inc. (NASDAQ:BBBY) were down 38% to $0.1812 after the company said it filed for bankruptcy protection
- Foghorn Therapeutics Inc. (NASDAQ:FHTX) was down, falling 17% to $5.59 after the company announced it paused enrollment in the FHD-609 study and the FDA placed the study on partial clinical hold due to a grade 4 QTc prolongation event in a synovial sarcoma patient.
Also Check This Out: Bitcoin Tumbles Below This Key Level; Injective Becomes Top Loser
Commodities
- In commodity news, oil traded up 1.5% to $79.00 while gold traded up 0.4% at $1,999.30
Silver traded up 0.8% to $25.255 on Monday while copper fell 0.6% to $3.9575.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.01%, London’s FTSE 100 fell 0.02% while Spain’s IBEX 35 Index slipped 0.10%. The German DAX fell 0.11%, French CAC 40 slipped 0.04% and Italy’s FTSE MIB Index fell 0.75%.
The Ifo Business Climate indicator for Germany increased by 0.4 points from a month ago to 93.6 in April.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 gaining 0.10%, Hong Kong’s Hang Seng Index falling 0.58% and China’s Shanghai Composite Index declining 0.78%. India’s S&P BSE Sensex rose 0.5%.
Hong Kong’s unemployment rate fell to 3.1% in the three months ending March 2023, compared to 3.3% in the prior period.
Economics
The Chicago Fed National Activity Index came in unchanged at -0.19 in March, but down from market expectations of -0.02.
Now Read This: Microsoft To Rally Over 13%? Here Are 10 Other Analyst Forecasts For Monday
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,578,050 cases with around 1,159,300 deaths. India confirmed a total of at least 44,891,980 cases and 531,320 deaths, while France reported over 39,950,20 COVID-19 cases with 166,280 deaths. In total, there were at least 686,514,230 cases of COVID-19 worldwide with more than 6,859,830 deaths.
