Dow Falls Over 200 Points; ISM Manufacturing PMI Rises In March
U.S. stocks traded mixed this morning, with the Dow Jones falling over 200 points on Thursday.
The Dow traded down 0.57% to 39,580.90 while the NASDAQ rose 0.30% to 16,427.97. The S&P 500 also fell, dropping, 0.07% to 5,250.56.
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Leading and Lagging Sectors
Communication services shares jumped by 1.4% on Thursday.
In trading on Thursday, real estate shares fell by 1.4%.
Top Headline
The ISM manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.
Equities Trading UP
MediaCo Holding Inc. (NASDAQ:MDIA) shares shot up 52% to $0.7960 after dipping more than 17% on Thursday.
Shares of Meta Materials Inc. (NASDAQ:MMAT) got a boost, surging 35% to $4.15. Meta Materials will host a corporate update webcast on Wednesday, April 3, 2024, at 4:30 PM EDT.
Doma Holdings Inc. (NYSE:DOMA) shares were also up, gaining 34% to $6.09 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.
Equities Trading DOWN
Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR) shares dropped 41% to $2.93.
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.
Logistic Properties Of The Americas (NYSE:LPA) was down, falling 37% to $10.01.
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Commodities
In commodity news, oil traded up 0.2% to $83.35 while gold traded up 0.7% at $2,253.10.
Silver traded up 0.1% to $24.94 on Thursday, while copper rose 1.2% to $4.0545.
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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