Dow Falls Over 200 Points After Friday's Plunge
U.S. stocks traded lower this morning, with the Dow Jones dropping more than 200 points on Monday.
The Dow traded down 0.74% to 32,045.89 while the NASDAQ fell 0.64% to 12,063.73. The S&P 500 also fell, dropping, 0.61% to 4,033.08.
Also check this: Market Volatility Rises Sharply After Powell's Speech
Leading and Lagging Sectors
Energy shares rose by 2.7% on Monday. Meanwhile, top gainers in the sector included Uranium Energy Corp. (NYSE:UEC), up 10% and Ur-Energy Inc. (NYSE:URG) up 7%.
In trading on Monday, financials shares fell by 0.9%.
Top Headline
U.S. personal spending rose 0.1% month-over-month in July, while personal income increased 0.2%. The personal consumption expenditure price index declined 0.1% month-over-month in July after increasing 1% in June.
Equities Trading UP
Sentage Holdings Inc. (NASDAQ:SNTG) shares shot up 28% to $3.5260. Sentage Holdings, last month, reported FY21 operating revenue of $2.26 million.
Shares of Hill International, Inc. (NYSE:HIL) got a boost, shooting 20% to $3.3621 following an updated merger agreement with Global Infrastructure Solutions which offers Hill shareholders $3.40 per share in cash versus $2.85 per share offered previously.
Pinduoduo Inc. (NASDAQ:PDD) shares were also up, gaining 19% to $68.24 after the company reported better-than-expected Q2 revenue results.
Equities Trading DOWN
Jianzhi Education Technology Group Company Limited (NASDAQ:JZ) shares tumbled 42% to $10.97.
Shares of Azure Power Global Limited (NYSE:AZRE) were down 41% to $6.18 after the company announced the resignation of Harsh Shah as CEO.
PaxMedica, Inc. (NASDAQ:PXMD) was down, falling 29% to $3.51. PaxMedica priced its initial public offering of 1.55 million shares of common stock at $5.25 per share.
Also check out: Apple, Amazon, HP And Other Big Losers From Friday
Commodities
In commodity news, oil traded up 2.7% to $95.58, while gold traded up 0.3% to $1,754.90.
Silver traded down 0.9% to $18.58 on Monday while copper fell 2.1% to $3.62.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.9%, London’s FTSE 100 fell 0.70% while Spain’s IBEX 35 Index fell 1%. The German DAX declined 0.8%, French CAC 40 fell 1% and Italy’s FTSE MIB Index fell 0.5%.
Economics
The Dallas Fed manufacturing index for August is scheduled for release at 10:30 a.m. ET. The index, which fell to minus 22.6 in July, is expected to recover slightly to minus 13.2 in August.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
Federal Reserve Governor Lael Brainard will speak at 2:15 p.m. ET.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,011,850 cases with around 1,069,130 deaths. India confirmed a total of at least 44,415,720 cases and 527,790 deaths, while France reported over 34,478,790 COVID-19 cases with 153,850 deaths. In total, there were at least 606,081,240 cases of COVID-19 worldwide with more than 6,488,500 deaths.