Gold Down Over 2%; US Factory Orders Fall In October

U.S. stocks traded lower midway through trading, with the Dow Jones index falling over 100 points on Monday.

The Dow traded down 0.36% to 36,116.18 while the NASDAQ fell 1.19% to 14,134.99. The S&P 500 also fell, dropping, 0.75% to 4,560.38.

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Leading and Lagging Sectors

 

Consumer staples shares rose by 0.2% on Monday.

In trading on Monday, information technology shares fell by 2.3%.

 

Top Headline

 

U.S. factory orders fell 3.6% month-over-month in October versus a revised 2.3% increase in September, and compared to market estimates of a 2.8% decline.

 

Equities Trading UP

 

EyePoint Pharmaceuticals, Inc. EYPT shares shot up 178% to $18.37 after the company announced the Phase 2 DAVIO 2 trial of EYP-1901 in wet AMD achieved all primary and secondary endpoints.

Shares of Hawaiian Holdings, Inc. HA got a boost, shooting 173% to $13.27 after Alaska Air Group, Inc. ALK announced plans to acquire the company in a deal worth $1.9 billion.

SilverSun Technologies, Inc. SSNT shares were also up, gaining 208% to $11.31 after the company announced Jacobs Private Equity II will invest $1 billion ($900 million from JPE, $100 million from co-investors) in SilverSun.

 

Equities Trading DOWN

 

U Power Limited UCAR shares dropped 58% to $0.65 after the company announced pricing of registered follow-on offering of 10 million units at a purchase price of $1.20 per unit.

Shares of Meta Materials Inc. MMAT were down 33% to $0.0733. Meta Materials announced a $6.0 million registered direct offering.

Virgin Galactic Holdings, Inc. SPCE was down, falling 18% to $1.93 following reports suggesting founder Richard Branson will not put any more money into the business.

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Commodities

 

In commodity news, oil traded down 0.1% to $74.00 while gold traded down 2.2% at $2,043.50.

Silver traded down 3.7% to $24.895 on Monday while copper fell 2.1% to $3.8475.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 fell 0.11%, London’s FTSE 100 fell 0.25% while Spain’s IBEX 35 Index rose 0.36% The German DAX rose 0.02% French CAC 40 fell 0.20%, while Italy’s FTSE MIB Index fell 0.07%.

Germany’s trade surplus widened to EUR 17.8 billion in October versus a revised EUR 16.7 billion a month ago.

 

Asia Pacific Markets

 

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.60%, Hong Kong’s Hang Seng Index falling 1.09% and China’s Shanghai Composite Index falling 0.29%. India’s S&P BSE Sensex, meanwhile, climbed 2.05%.

Retail sales in Australia fell by 0.2% month-over-month in October, while business inventories unexpectedly climbed by 1.2% quarter-over-quarter during the third quarter. The Melbourne Institute's Monthly Inflation Gauge increased 0.3% for November.

 

Economics

 

U.S. factory orders fell 3.6% month-over-month in October versus a revised 2.3% increase in September, and compared to market estimates of a 2.8% decline.

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