Gold Moves Lower; Pilgrim's Pride Earnings Top Views
U.S. stocks traded mixed toward the end of trading, with the Dow Jones index turning lower on Monday.
The Dow traded down 0.08% to 39,101.76 while the NASDAQ rose 0.04% to 16,003.09. The S&P 500 also fell, dropping, 0.24% to 5,076.80.
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Leading and Lagging Sectors
Energy shares rose by 0.5% on Monday.
In trading on Monday, utilities shares fell by 1.7%.
Top Headline
Pilgrim's Pride Corporation (NASDAQ:PPC) posted better-than-expected fourth-quarter results.
Pilgrims Pride reported fourth-quarter fiscal 2023 sales growth of 9.7% year-over-year to $4.528 billion, beating the consensus of $4.47 billion. Adjusted EPS was 59 cents, an improvement from a loss of 49 cents, above the consensus of 40 cents.
Equities Trading UP
Akili, Inc. (NASDAQ:AKLI) shares shot up 116% to $0.4782 after the company reported positive results from Shionogi's Phase 3 clinical trial of localized version of Akili's EndeavorRx® for Pediatric ADHD patients in Japan.
Shares of Interactive Strength Inc. (NASDAQ:TRNR) got a boost, surging 41% to $0.9299 after the company announced it has entered into an exclusive worldwide distribution agreement with WOODWAY to sell and distribute CLMBR.
Agiliti, Inc. (NYSE:AGTI) shares were also up, gaining 29% to $9.86 after the company announced it will be taken private by THL Partners.
Equities Trading DOWN
Aclarion, Inc. (NASDAQ:ACON) shares dropped 65% to $0.3134 after the company priced its public offering of 5.175 million units. Each unit includes one share of common stock (or a pre-funded warrant), and two common warrants.
Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 38% to $5.97 after the company said its lunar lander may have tipped over upon landing on the moon.
Venus Concept Inc. (NASDAQ:VERO) was down, falling 25% to $0.98 after the company announced a $1.2 million registered direct offering at $1.465 per share.
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Commodities
In commodity news, oil traded up 1.8% to $77.84 while gold traded down 0.6% at $2,037.70.
Silver traded down 2.1% to $22.505 on Monday while copper fell 1.5% to $3.8430.
Euro zone
European shares closed mixed today. The eurozone’s STOXX 600 fell 0.37%, London’s FTSE 100 fell 0.29% while Spain’s IBEX 35 Index rose 0.08% The German DAX gained 0.02% French CAC 40 fell 0.46% while Italy’s FTSE MIB Index fell 0.44%.
Producer prices in Spain declined by 3.8% year-over-year in January following a 6.3% fall in the earlier month.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 gaining 0.35%, Hong Kong’s Hang Seng Index falling 0.54%, China’s Shanghai Composite Index dipping 0.93% and India’s S&P BSE Sensex falling 0.4%.
Singapore’s manufacturing production gained 1.1% year-over-year in January following a revised 2.4% decline in December.
Economics
Building permits in the U.S. fell by 0.3% to an annual rate of 1.489 million in January.
The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas rose to -11.3 in February versus an eight-month low level of -27.4 in the previous month.
Sales of new single-family houses in the US. climbed by 1.5% from the prior month to an annualized rate of 661,000 in January.
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