Crude Oil Moves Higher; Oxford Industries Shares Fall After Q4 Results
U.S. stocks traded lower midway through trading, with the Dow Jones falling over 300 points on Monday.
The Dow traded down 0.79% to 39,492.80 while the NASDAQ fell 0.22% to 16,344.11. The S&P 500 also fell, dropping, 0.45% to 5,230.46.
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Leading and Lagging Sectors
Communication services shares jumped by 1.1% on Monday.
In trading on Monday, real estate shares fell by 1.8%.
Top Headline
Shares of Oxford Industries, Inc. (NYSE:OXM) fell more than 4% on Monday after the company reported downbeat financial results for its fourth quarter and issued weak guidance for the first quarter on Thursday.
Equities Trading UP
CXApp Inc. (NASDAQ:CXAI) shares shot up 143% to $5.95 after the company announced a partnership with Google Cloud for acceleration of the CXAI platform.
Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) got a boost, surging 87% to $0.1138 after the company FY23 operating results.
Doma Holdings Inc. (NYSE:DOMA) shares were also up, gaining 34% to $6.07 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.
Equities Trading DOWN
Nuvve Holding Corp. (NASDAQ:NVVE) shares dropped 29% to $0.7798 after the company reported worse-than-expected fourth-quarter financial results.
Shares of AEON Biopharma, Inc. (NYSE:AEON) were down 41% to $6.86 after the company reported a fourth-quarter loss of 71 cents per share.
Disc Medicine, Inc. (NASDAQ:IRON) was down, falling 50% to $31.25 after the company reported topline results from the Phase 2 AURORA study of bitopertin in patients with EPP.
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Commodities
In commodity news, oil traded up 0.9% to $83.92 while gold traded up 0.9% at $2,259.20.
Silver traded up 0.8% to $25.12 on Monday, while copper rose 1% to $4.0475.
Economics
The ISM Manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.
U.S. construction spending fell by 0.3% from the prior month in February.
The S&P Global manufacturing PMI was revised lower to 51.9 in March compared to a preliminary reading of 52.5.
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