US Stocks Down; Dow Falls 100 Points

U.S. stocks traded lower this morning, with the Dow Jones index dipping around 100 points on Monday.

Following the market opening Monday, the Dow traded down 0.27% to 38,618.51 while the NASDAQ fell 0.16% to 16,058.93. The S&P 500 also fell, dropping, 0.24% to 5,111.38.

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Leading and Lagging Sectors

 

Materials shares jumped by 0.6% on Monday.

In trading on Monday, information technology shares fell by 0.9%.

 

Top Headline

 

Eltek Ltd. ELTK posted downbeat earnings for its fourth quarter on Monday.

Eltek posted quarterly earnings of 22 cents per share, missing market estimates of 31 cents per share.

 

Equities Trading UP

 

Kidpik Corp. PIK shares shot up 254% to $9.57. Kidpik recently announced a 1-for 5 reverse stock split.

Shares of Fangdd Network Group Ltd. DUO got a boost, surging 95% to $1.1780 after the company announced its 2024 strategic layout with plans to enter the real estate stock asset services sector

TC Biopharm (Holdings) Plc TCBP shares were also up, gaining 69% to $1.79.

 

Equities Trading DOWN

 

Eltek Ltd. ELTK shares dropped 22% to $10.90 after the company announced downbeat quarterly earnings.

Shares of Jeffs' Brands Ltd JFBR were down 24% to $1.20.

CERo Therapeutics Holdings, Inc. CERO was down, falling 21% to $3.12 after jumping 28% on Friday. CERo Therapeutics recently announced the publication of preclinical research analyzing CER-1236 in targeting Acute Myelogenous Leukemia tumor cells from human patients.

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Commodities

 

In commodity news, oil traded down 0.7% to $77.44 while gold traded down 0.1% at $2,184.20.

Silver traded up 0.3% to $24.615 on Monday while copper rose 0.8% to $3.9220.

 

Euro zone

 

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index rose 0.1% The German DAX fell 0.6% French CAC 40 fell 0.2% while Italy’s FTSE MIB Index fell 0.4%.

Spanish retail trade rose by 0.3% year-over-year in January versus a revised 2.7% gain in the previous month.

 

Asia Pacific Markets

 

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 dipping 2.19%, Hong Kong’s Hang Seng Index gaining 1.43%, China’s Shanghai Composite Index gaining 0.74% and India’s S&P BSE Sensex falling 0.81%.

Chinese vehicle sales dipped by 19.9% year-over-year to 1.58 million units in February versus a 47.9% surge in the prior month. Japanese machine tool orders declined by 8% year-over-year to JPY 114,154 million in February. Japan's GDP expanded by 0.1% quarter-over-quarter in the fourth quarter versus a 0.8% contraction in the third quarter.

 

Economics

 

No economic report of significance is due for Monday

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