S&P 500 Down 1%; Crude Oil Drops Over 2%

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping around 175 points on Monday.

The Dow traded down 0.59% to 33,777.39 while the NASDAQ fell 1.58% to 11,438.31. The S&P 500 also fell, dropping, 1.03% to 4,028.82.

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Leading and Lagging Sectors

• Utilities shares rose by 0.1% on Monday. Meanwhile, top gainers in the sector included DTE Energy Company DTE, up 1%, and CenterPoint Energy, Inc. CNP, up 1%.
• In trading on Monday, energy shares fell by 1.9%.

 

Top Headline

The Dallas Federal Reserve’s manufacturing business index increased 11.6 points to a reading of -8.4 in January.

 

Equities Trading UP

• G Medical Innovations Holdings Ltd GMVD shares shot up 55% to $6.12 after the company announced it received notice of patent issuance from the United States Patent and Trademark Office (USPTO) for vital signs sensors.
• Shares of Genius Group Limited GNS got a boost, shooting 55% to $6.12 after the company announced it would spinoff it Entrepreneur Resorts subsidiary as a separate publicly traded company.
• Heart Test Laboratories, Inc. HSCS shares were also up, gaining 142% to $2.13 after Ascendant Capital initiated coverage on the stock with a Buy rating and a $3.30 price target.

 

Equities Trading DOWN

• CN Energy Group. Inc. CNEY shares tumbled 73% to $0.5814 after the company reported pricing of $10 million underwritten public offering.
• Shares of Brera Holdings PLC BREA were down 37% to $4.82. Brera announced its international strategy for simultaneous expansion and licensing of the Brera FC Brand in Eastern Europe, Africa, and South America, via potential acquisition and renaming football teams.
• FiscalNote Holdings, Inc. NOTE was down, falling 26% to $3.76. FiscalNote, on Friday, reported acquisition of geopolitical data and security intelligence company, Dragonfly.

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Commodities

In commodity news, oil traded down 2.4% to $77.70 while gold traded down 0.3% at $1,922.90.

Silver traded down 0.6% to $23.755 on Monday while copper fell 0.7% to $4.1930.

 

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.17%, London’s FTSE 100 rose 0.25% while Spain’s IBEX 35 Index fell 0.12%. The German DAX dropped 0.16% French CAC 40 fell 0.21% and Italy’s FTSE MIB Index fell 0.38%.

The consumer confidence indicator in the Eurozone was confirmed at -20.9 in January, recording the highest level since February 2022. The services confidence indicator in the Eurozone climbed by 3.0 points from a month ago to 10.7 in January, while industry confidence indicator increased by 1.7 points to 1.3 in January.

German GDP shrank by 0.2% on quarter during the final three months of the year, following a revised 0.5% growth in the prior period. Industrial producer prices in Italy climbed 31.7% year-over-year in December. Retail sales in Spain climbed by 4% year-over-year in December, while consumer price inflation rate increased to 5.8% in January.

 

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.19%, Hong Kong’s Hang Seng Index dropping 2.73% and China’s Shanghai Composite Index gaining 0.14%. India’s S&P BSE Sensex gained 0.29%.

Producer prices in Malaysia rose by 3.5% year-over-year in December following a 3.2% growth a month ago.

 

Economics

The Dallas Federal Reserve’s manufacturing business index increased 11.6 points to a reading of -8.4 in January.

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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 104,115,370 cases with around 1,132,250 deaths. India confirmed a total of at least 44,682,710 cases and 530,740 deaths, while France reported over 39,516,460 COVID-19 cases with 164,080 deaths. In total, there were at least 674,899,740 cases of COVID-19 worldwide with more than 6,759,710 deaths.