Nasdaq Down Over 100 Points; US Pending Home Sales Increase In November

U.S. stocks traded lower toward the end of trading, with the S&P 500 falling around 0.7% on Monday.

The Dow traded down 0.67% to 42,702.02 while the NASDAQ fell 0.73% to 19,578.50. The S&P 500 also fell, dropping, 0.72% to 5,928.08.

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Leading and Lagging Sectors

Energy shares rose by 0.2% on Monday.

In trading on Monday, consumer discretionary shares dipped by 1.2%.

Top Headline

U.S. pending home sales increased 2.2% month-over-month in November, following a revised 1.8% gain in October and above market estimates of a 0.7% increase.

Equities Trading UP
                       

• Cytek Biosciences, Inc. CTKB shares shot up 5% to $6.69. Cytek Biosciences announced a $50 million stock buyback program for 2025.
• Shares of Emergent BioSolutions Inc. EBSgot a boost, surging 12% to $9.27. HC Wainwright & Co. analyst Raghuram Selvaraju initiated coverage on Emergent BioSolutions with a Buy rating and announced a price target of $15.
• Hesai Group HSAI shares were also up, gaining 7% to $14.48. Hesai Technology said it delivered more than 100,000 Lidar units during December.

Equities Trading DOWN

• Vertical Aerospace Ltd EVTL shares dropped 15% to $13.20. The company recently announced it has finalized an investment agreement for up to $50 million in new funding.
• Shares of Traws Pharma, Inc. TRAW were down 41% to $7.92. Traws Pharma entered into agreements to raise up to $72.6m from healthcare institutional investors to advance Tivoxavir Marboxil development.
• CEL-SCI Corporation CVM was down, falling 31% to $0.42. On Sunday, the company disclosed a public offering of 16.13 million shares of common stock or pre-funded warrants at $0.31 per share.

Commodities

In commodity news, oil traded up 1.1% to $71.34 while gold traded down 0.6% at $2,616.00.

Silver traded down 2% to $29.385 on Monday, while copper fell 0.8% to $4.0880.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.46%, Germany's DAX fell 0.38% and France's CAC 40 fell 0.57%. Spain's IBEX 35 Index rose 0.05%, while London's FTSE 100 fell 0.35%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 0.96%, China's Shanghai Composite Index gaining 0.21%, Hong Kong's Hang Seng Index falling 0.24% and India's BSE Sensex dipping 0.57%.

Economics

• The Chicago PMI fell to 36.9 in December from 40.2 in November and missing market estimates of 42.5.
• U.S. pending home sales increased 2.2% month-over-month in November, following a revised 1.8% gain in October and above market estimates of a 0.7% increase.
• The Dallas Fed’s Texas manufacturing activity index rose six points to a reading of 3.4 in December.

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