Crude Oil Falls Sharply; Apollomics Shares Plunge

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining over 100 points on Monday.

The Dow traded down 0.19% to 33,062.85 while the NASDAQ rose 0.80% to 13,088.09. The S&P 500 also rose, gaining, 0.28% to 4,236.12.

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Leading and Lagging Sectors

Communication services shares rose by 1.3% on Monday.

In trading on Monday, energy shares dipped by 1.9%.

Top Headline

The Chicago Fed National Activity Index climbed to +0.02 in September versus a revised reading of -0.22 in the prior month.

Equities Trading UP

LumiraDx Limited LMDX shares shot up 282% to $0.3321 after the company reported a strategic collaboration with AstraZeneca and Everton in the Community to set up England’s first community-based heart and lung screening hub.

Shares of INVO Bioscience, Inc. INVO got a boost, shooting 295% to $2.1350 as the company agreed to acquire NAYA Biosciences in an all-stock transaction.

Akumin Inc. AKU shares were also up, gaining 149% to $0.3629 after the company reached an agreement with Stonepeak to become a private company.

Equities Trading DOWN

Li-Cycle Holdings Corp. LICY shares dropped 44% to $1.28 after the company announced plans to halt construction work on its Rochester Hub project, pending completion of a comprehensive review of the go-forward strategy for the project..

Shares of Revolution Medicines, Inc. RVMD were down 39% to $17.20 after the company announced it presented clinical activity and safety data from its Phase 1/1b trial of RMC-6236.

Apollomics, Inc. APLM was down, falling 43% to $1.00 after the company announced the presentation of vebreltinib efficacy and safety data from the KUNPENG clinical trial at ESMO 2023.

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Commodities

In commodity news, oil traded down 2.6% to $85.79 while gold traded down 0.3% at $1,987.60.

Silver traded down 1.4% to $23.185 on Monday while copper rose 0.6% to $3.5840.

Euro zone

European shares closed mixed today. The eurozone’s STOXX 600 fell 0.13%, London’s FTSE 100 fell 0.37% while Spain’s IBEX 35 Index fell 0.37% The German DAX rose 0.02% French CAC 40 rose 0.50%, while Italy’s FTSE MIB Index gained 0.74%.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.83% and China’s Shanghai Composite Index falling 1.47%. India’s S&P BSE Sensex, meanwhile, fell 0.8%.

Food prices in Singapore rose by 4.3% year-over-year in September following a 4.8% increase in August. Singapore's annual inflation rate rose to 4.1% in September from August's level of 4.0%.