Crude Oil Gains 1%; Chicago PMI Falls In December

U.S. stocks traded lower midway through trading, with the Nasdaq Composite dipping more than 100 points on Monday.

The Dow traded down 0.61% to 42,725.52 while the NASDAQ fell 0.58% to 19,608.47. The S&P 500 also fell, dropping, 0.59% to 5,935.35.

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Leading and Lagging Sectors

Energy shares fell by just 0.6% on Monday.

In trading on Monday, consumer discretionary shares dipped by 2.2%.

Top Headline

The Chicago PMI fell to 36.9 in December from 40.2 in November and missing market estimates of 42.5.

Equities Trading UP
                       

• Cytek Biosciences, Inc. CTKB shares shot up 6% to $6.79. Cytek Biosciences announced a $50 million stock buyback program for 2025.
• Shares of Emergent BioSolutions Inc. EBSgot a boost, surging 13% to $9.36. 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 9% to $14.69. Hesai Technology said it delivered more than 100,000 Lidar units during December.

Equities Trading DOWN

• Quantum Corporation QMCO shares dropped 20% to $56.60.
• Shares of Traws Pharma, Inc. TRAW were down 39% to $8.25. 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 28% to $0.4301. 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% to $71.32 while gold traded down 0.6% at $2,615.80.

Silver traded down 1.5% to $29.505 on Monday, while copper fell 0.7% to $4.0930.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.65%, Germany's DAX fell 0.38% and France's CAC 40 fell 0.58%. Spain's IBEX 35 Index rose 0.01%, while London's FTSE 100 fell 0.62%.

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.

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