Dow Dips Over 300 Points; GameStop Shares Spike Higher
U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones falling more than 300 points on Monday.
The Dow traded down 0.81% to 38,371.77 while the NASDAQ climbed 0.04% to 16,741.41. The S&P 500 also fell, dropping, 0.38% to 5,257.50.
Check This Out: These 3 Real Estate Stocks Delivering High-Dividend Yields Are Recommended By Wall Street’s Most Accurate Analysts
Leading and Lagging Sectors
Health care shares rose by 0.4% on Monday.
In trading on Monday, energy shares fell by 3.2%.
Top Headline
Science Applications International Corp (NYSE:SAIC) reported a 9% revenue decline year over year in the fiscal first quarter of 2025 to $1.847 billion, marginally beating the analyst consensus estimate of $1.844 billion.
Adjusted EPS of $1.92 was in line with the analyst consensus estimate.
Equities Trading UP
- Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares shot up 42% to $2.9295 after the company announced the presentation of data from its ongoing Phase 2 combination study of prexigebersen for the treatment of acute myeloid leukemia at the ASCO Annual Meeting.
- Shares of Microbot Medical Inc. (NASDAQ:MBOT) got a boost, surging 46% to $1.4601 after the company received FDA approval to proceed with its pivotal human clinical trial.
- GameStop Corp. (NYSE:GME) shares were also up, gaining 35% to $31.17 after Roaring Kitty on a Reddit post, shared his position on the stock.
Equities Trading DOWN
- CalAmp Corp. (NASDAQ:CAMP) shares dropped 60% to $1.0650 after the company announced it entered into a restructuring support agreement to take the company private and has voluntarily initiated proceedings under Chapter 11 of the United States Bankruptcy Code.
- Shares of Lattice Semiconductor Corporation (NASDAQ:LSCC) were down 15% to $62.84 after the company announced an interim CEO following Jim Anderson’s decision to step down as President, CEO and Board member to pursue an opportunity with another company.
- CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) was down, falling 38% to $0.1350. CNS Pharmaceuticals announced a 1-for-50 reverse stock split.
Also Check This Out: Top 3 Utilities Stocks That May Plunge In Q2
Commodities
In commodity news, oil traded down 3.6% to $74.21 while gold traded up 0.9% at $2,367.80.
Silver traded up 1% to $30.745 on Monday, while copper rose 1.3% to $4.6625.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.32%, Germany's DAX rose 0.60% and France's CAC 40 gained 0.06%. Spain's IBEX 35 Index climbed 0.66%, while London's FTSE 100 fell 0.15%.
The HCOB Eurozone manufacturing PMI climbed to 47.3 in May compared to 45.7 in April, while German manufacturing PMI rose to 45.4 in May from 42.5 in April. The S&P Global France manufacturing PMI rose to 46.4 in compared to 45.3 in April, while UK manufacturing PMI gained to 51.2 from 49.1.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan's Nikkei gaining 1.13%, China's Composite Index falling 0.27%, Hong Kong's Hang Seng Index climbing 1.79% and India's S&P BSE Sensex jumping 3.39%.
The HSBC India Manufacturing PMI fell to 57.5 in May from 58.8 in the prior month, while Caixin China general manufacturing PMI gained to 51.7 in May from 51.4 a month ago. The au Jibun Bank Japan manufacturing PMI rose to 50.4 in May from 49.6 in the earlier month.
Economics
- The S&P Global manufacturing PMI rose to 51.3 from prior reading of 50. However, analysts were expecting a reading of 50.9.
- U.S. construction spending declined by 0.1% month-over-month to an annual rate of $2,099 billion in April compared to a 0.2% decline in the previous month and versus market estimates of a 0.2% increase.
- The ISM manufacturing PMI fell to 48.7 in May versus 49.2 in April, and market expectations of of 49.6.
Now Read This: How To Earn $500 A Month From Hewlett Packard Enterprise Stock Ahead Of Q2 Earnings