US Stocks Edge Higher; Amazon And iRobot Agree To Terminate Acquisition Deal
U.S. stocks traded slightly higher this morning, with the Dow Jones index gaining around 25 points on Monday.
Following the market opening Monday, The Dow traded up 0.07% to 38,134.80 while the NASDAQ rose 0.04% to 15,461.42. The S&P 500 also fell, dropping, 0.04% to 4,893.17.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 0.2% on Monday.
In trading on Monday, communication services shares fell by 0.3%.
Top Headline
Amazon.Com Inc (NASDAQ:AMZN) and iRobot Corp (NASDAQ:IRBT) mutually agreed to terminate their $1.7 billion merger deal.
This deal would have allowed Amazon to invest in continued innovation by iRobot and support iRobot in lowering prices on product customers.
Equities Trading UP
Palisade Bio, Inc. (NASDAQ:PALI) shares shot up 132% to $1.23 after the company requested the withdrawal of a recently filed registration statement. Also, the company announced preclinical data of its lead program PALI-2108 at the 2024 Crohn's & Colitis Congress.
Shares of OneMedNet Corporation (NASDAQ:ONMD) got a boost, surging 91% to $1.0210. OneMedNet announced participation as an exhibitor at the 15ᵗʰ Annual SCOPE Summit.
Revelation Biosciences, Inc. (NASDAQ:REVB) shares were also up, gaining 89% to $18.64.
Equities Trading DOWN
Panbela Therapeutics, Inc. (NASDAQ:PBLA) shares dropped 67% to $1.43 after the company announced pricing of a roughly $9 million public offering.
Shares of Arrival (NASDAQ:ARVL) were down 24% to $0.56.
SMX (Security Matters) Public Limited Company (NYSE:SMX) was down, falling 21% to $0.3396 after gaining around 83% on Friday.
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Commodities
In commodity news, oil traded down 1.2% to $77.06 while gold traded up 0.6% at $2,030.10.
Silver traded down 0.7% to $23.03 on Monday while copper rose 0.1% to $3.8555.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index fell 0.6% The German DAX fell 0.4% French CAC 40 slipped 0.1% while Italy’s FTSE MIB Index fell 0.7%.
The Credit Union Consumer Sentiment Index in Ireland climbed to 74.2 in January versus a reading of 62.4 in December.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.77%, Hong Kong’s Hang Seng Index gaining 0.78% and China’s Shanghai Composite Index falling 0.92%. India’s S&P BSE Sensex, meanwhile, jumped 1.74%.
Profits earned by Chinese industrial firms declined 2.3% year-over-year to CNY 7,685.83 billion last year. The Domestic Supply Price Index in Singapore declined 1.1% year-over-year in December, while Malaysia’s producer prices fell 1.3% year-over-year in December.
Economics
The Dallas Fed Manufacturing index will be released at 10:00 a.m. ET.
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