U.S. stocks displayed mixed trading throughout the day, with the Nasdaq Composite performing well, trading higher by around 30 points. The Dow experienced a slight decline of 0.07% to 33,939.93, while the NASDAQ saw a 0.24% increase to 13,243.56. The S&P 500 also rose by 0.19% to 4,328.30.
Energy shares had a positive performance with a rise of 1.2% during Monday’s trading. However, consumer staples shares fell by 0.7%.
In a significant development, the Chicago Fed National Activity Index dropped to -0.16 in August, compared to a revised reading of 0.07 in July.
Regarding individual companies, TransCode Therapeutics, Inc. (RNAZ) experienced a surge of 218% to $2.11 after announcing pre-clinical gliblastoma results. ESS Tech, Inc. (GWH) also saw a boost of 24% to $1.7173 following its collaboration with Honeywell International Inc. (HON) to advance iron flow battery (IFB) energy storage systems. Biophytis S.A. (BPTS) saw a 54% rise to $1.4199 after announcing a partnership agreement with Skyepharma for the production of regulatory batches of Sarconeos (BIO101) for severe forms of Covid-19.
On the downside, CYNEXIS, Inc. (SCYX) experienced a significant drop of 34% to $2.17 as it announced a recall of BREXAFEMME and a temporary halt to clinical studies of ibrexafungerp. Brainstorm Cell Therapeutics Inc. (BCLI) also faced a decline of 33% to $0.55 after the FDA stated that there is insufficient evidence to support the assessed biomarkers for the company’s ALS therapy. Morphic Holding, Inc. (MORF) fell by 37% to $23.19 after a downgrade from Buy to Neutral by BTIG.
In commodity news, oil traded down 0.4% to $89.68, while gold fell by 0.5% to $1,936.20. Silver experienced a 2% decline to $23.37, and copper fell by 0.7% to $3.6705.
European shares closed on a lower note, with the Eurozone’s STOXX 600 falling 0.62% and various indices, such as the FTSE 100, IBEX 35, DAX, CAC 40, and FTSE MIB, experiencing declines of different magnitudes.
Asian markets displayed mixed results, with Japan’s Nikkei 225 gaining 0.85%, Hong Kong’s Hang Seng Index falling 1.82%, and China’s Shanghai Composite Index declining 0.54%. India’s S&P BSE Sensex saw a modest gain of 0.1%.
In terms of COVID-19 updates, the U.S. continues to report the highest number of cases and deaths worldwide, with over 108 million cases and 1.1 million deaths. India, France, and several other countries also reported significant case and death numbers.
Overall, the stock market displayed a mixed trading session with various sectors and individual companies experiencing both gains and losses.
Definitions:
– Nasdaq Composite: An index that includes all securities listed on the Nasdaq stock market, which is comprised largely of technology companies.
– Dow: Commonly referred to as the Dow Jones Industrial Average (DJIA), it is an index that tracks the performance of 30 large, publicly-owned companies in the United States.
– S&P 500: An index that tracks the performance of 500 large companies listed on stock exchanges in the United States.
– Energy shares: Stocks of companies involved in the energy sector, including oil and gas exploration, production, and distribution.
– Consumer staples shares: Stocks of companies that produce and sell essential products such as food, beverages, and household goods.
– Chicago Fed National Activity Index: An economic indicator that measures overall economic activity and inflationary pressure in the United States.
– Pre-clinical: The stage of research and testing conducted on animals or in a laboratory setting before clinical trials on humans.
– Biomarkers: Measurable indicators that can be used to evaluate the presence or severity of a disease or the effectiveness of a treatment.
– Commodity news: Information and updates regarding the prices and trading of commodities such as oil, gold, silver, and copper.
– STOXX 600: An index that represents the performance of 600 European companies across various sectors.
– Ifo Business Climate: An index that measures business sentiment and expectations in Germany.
– Nikkei 225: An equity index that represents the performance of 225 companies listed on the Tokyo Stock Exchange in Japan.
– Hang Seng Index: An equity index that represents the performance of the 50 largest companies listed on the Hong Kong Stock Exchange.
– Shanghai Composite Index: An equity index that tracks the performance of all A-shares and B-shares listed on the Shanghai Stock Exchange in China.
– S&P BSE Sensex: An equity index that represents the performance of 30 large and well-established companies listed on the Bombay Stock Exchange in India.
– Chicago Fed National Activity Index: An economic indicator that measures overall economic activity and inflationary pressure in the United States.
– FDA: The U.S. Food and Drug Administration, a regulatory agency responsible for protecting public health by ensuring the safety and efficacy of drugs, medical devices, and food products.
Sources: N/A