US Stocks Down; Dow Falls 100 Points
U.S. stocks traded lower this morning, with the Dow Jones index dipping around 100 points on Monday.
Following the market opening Monday, the Dow traded down 0.27% to 38,618.51 while the NASDAQ fell 0.16% to 16,058.93. The S&P 500 also fell, dropping, 0.24% to 5,111.38.
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Leading and Lagging Sectors
Materials shares jumped by 0.6% on Monday.
In trading on Monday, information technology shares fell by 0.9%.
Top Headline
Eltek Ltd. (NASDAQ:ELTK) posted downbeat earnings for its fourth quarter on Monday.
Eltek posted quarterly earnings of 22 cents per share, missing market estimates of 31 cents per share.
Equities Trading UP
Kidpik Corp. (NASDAQ:PIK) shares shot up 254% to $9.57. Kidpik recently announced a 1-for 5 reverse stock split.
Shares of Fangdd Network Group Ltd. (NASDAQ:DUO) got a boost, surging 95% to $1.1780 after the company announced its 2024 strategic layout with plans to enter the real estate stock asset services sector
TC Biopharm (Holdings) Plc (NASDAQ:TCBP) shares were also up, gaining 69% to $1.79.
Equities Trading DOWN
Eltek Ltd. (NASDAQ:ELTK) shares dropped 22% to $10.90 after the company announced downbeat quarterly earnings.
Shares of Jeffs' Brands Ltd (NASDAQ:JFBR) were down 24% to $1.20.
CERo Therapeutics Holdings, Inc. (NASDAQ:CERO) was down, falling 21% to $3.12 after jumping 28% on Friday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.
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Commodities
In commodity news, oil traded down 0.7% to $77.44 while gold traded down 0.1% at $2,184.20.
Silver traded up 0.3% to $24.615 on Monday while copper rose 0.8% to $3.9220.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index rose 0.1% The German DAX fell 0.6% French CAC 40 fell 0.2% while Italy’s FTSE MIB Index fell 0.4%.
Spanish retail trade rose by 0.3% year-over-year in January versus a revised 2.7% gain in the previous month.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan’s Nikkei 225 dipping 2.19%, Hong Kong’s Hang Seng Index gaining 1.43%, China’s Shanghai Composite Index gaining 0.74% and India’s S&P BSE Sensex falling 0.81%.
Chinese vehicle sales dipped by 19.9% year-over-year to 1.58 million units in February versus a 47.9% surge in the prior month. Japanese machine tool orders declined by 8% year-over-year to JPY 114,154 million in February. Japan's GDP expanded by 0.1% quarter-over-quarter in the fourth quarter versus a 0.8% contraction in the third quarter.
Economics
No economic report of significance is due for Monday
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