Gold Down 1%; ISM Manufacturing PMI Tops Estimates

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 40 points on Monday.

The Dow traded down 0.60% to 33,306.79 while the NASDAQ rose 0.29% to 13,257.86. The S&P 500 also fell, dropping, 0.40% to 4,270.74.

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Leading and Lagging Sectors

Communication services shares rose by 1% on Monday.

In trading on Monday, utilities shares fell by 1.6%.

Top Headline

The ISM manufacturing PMI increased to 49 in September from 47.6 in the prior month, above market estimates of 47.8.

Equities Trading UP

AERWINS Technologies Inc. AWIN shares shot up 173% to $0.2090 after the company said it is considering strategic alternatives for its non-core operations.

Shares of IceCure Medical Ltd ICCM got a boost, shooting 39% to $0.7691 after the company announced an independent study validated its ProSense cryoblation treatment as a safe and effective outpatient procedure for breast cancer with a 96.8% success rate.

Invitae Corporation NVTA shares were also up, gaining 14% to $0.6866 after the FDA approved the company's DNA test to assess certain cancers.

Equities Trading DOWN

SmileDirectClub, Inc. SDC shares dropped 61% to $0.1609 after the company filed for Chapter 11 bankruptcy.

Shares of Intelligent Bio Solutions Inc. INBS were down 56% to $0.4655 as the company announced pricing of $4,000,000 underwritten public offering.

Enerflex Ltd. EFXT was down, falling 21% to $4.50 as the company said Rodney D. Gray resigned from his role as Senior Vice President and Chief Financial Officer to pursue other opportunities.

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Commodities

In commodity news, oil traded down 1.8% to $89.20 while gold traded down 1.1% at $1,846.10.

Silver traded down 4.1% to $21.535 on Monday while copper fell 2.4% to $3.6495.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.27% London’s FTSE 100 fell 1.47% while Spain’s IBEX 35 Index fell 1.11% The German DAX fell 1.17% French CAC 40 fell 1.26%, while Italy’s FTSE MIB Index fell 1.47%.

The eurozone unemployment rate declined to 6.4% in August, the lowest on record, compared to revised 6.5% in the prior month, while manufacturing PMI was fell slightly to 43.4 in September from the prior month's level of 43.5.

The S&P Global/CIPS UK’s manufacturing PMI rose slightly to 44.3 in September versus flash reading of 44.2. German manufacturing PMI was revised lower to 39.6 in September from a preliminary level of 39.8, while French manufacturing PMI rose to 44.2 in September from a preliminary estimate of 43.6.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.31% and Australia’s S&P/ASX 200 falling 0.22%.

The au Jibun Bank Japan manufacturing PMI was revised lower to 48.5 in September from a flash level of 48.6, while private home prices in Singapore rose by 0.5% quarter-on-quarter in the third quarter.

Economics

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

Construction spending increased by 0.5% month-over-month to an annual rate of $1,983.5 billion in August.

The ISM manufacturing PMI increased to 49 in September from 47.6 in the prior month, above market estimates of 47.8.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,752,790 cases with around 1,177,280 deaths. India confirmed a total of at least 44,998,830 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 696,038,990 cases of COVID-19 worldwide with more than 6,921,810 deaths.