Crude Oil Falls; RedHill Biopharma Shares Spike Higher

U.S. stocks traded mixed toward the end of trading on Monday.

The Dow traded down 0.13% to 35,344.56 while the NASDAQ rose 0.11% to 14,266.69. The S&P 500 also fell, dropping, 0.08% to 4,555.47.

Check This Out: IO Biotech And 2 Other Stocks Under $2 Insiders Are Buying

 

Leading and Lagging Sectors

 

Real estate shares rose by 0.5% on Monday.

In trading on Monday, energy shares fell by 1.1%.

 

Top Headline

 

U.S. new home sales declined by 5.6% to an annualized rate of 679,000 in October, compared to market estimates of 723,000.

 

Equities Trading UP

 

RedHill Biopharma Ltd. RDHL shares shot up 214% to $0.99 after the company announced the FDA has granted five years' market exclusivity for Talicia.

Shares of Biodexa Pharmaceuticals Plc BDRX got a boost, shooting 131% to $6.17 after the company announced it entered into agreements to acquire an exclusive worldwide license to tolimidone.

Asset Entities Inc. ASST shares were also up, gaining 80% to $0.63 after the company announced a stock repurchase program allowing for the purchase of up to 1.25 million shares of its Class B common stock.

 

Equities Trading DOWN

 

Pagaya Technologies Ltd. PGY shares dropped 5.5% to $1.2950 after the company said Michael Kurlander, Chief Financial Officer, has stepped down from his role to pursue an outside opportunity. The company named Deputy Chief Financial Officer Evangelos Perros as Interim Chief Financial Officer.

Shares of B. Riley Financial, Inc. RILY were down 9% to $19.08 after gaining 8% on Friday. Impel Pharmaceuticals recently announced exploration of strategic alternatives.

Anavex Life Sciences Corp. AVXL was down, falling 8% to $6.53 after the company reported fourth-quarter financial results.

Also Check This Out: Top 5 Consumer Stocks That Are Preparing To Pump This Quarter

 

Commodities

 

In commodity news, oil traded down 0.5% to $75.13 while gold traded up 0.5% at $2,013.50.

Silver traded up 1.4% to $24.685 on Monday while copper fell 0.7% to $3.7610.

 

Euro zone

 

European shares were lower today. The eurozone’s STOXX 600 fell 0.34%, London’s FTSE 100 fell 0.37% while Spain’s IBEX 35 Index fell 0.03% The German DAX fell 0.39% French CAC 40 slipped 0.37%, while Italy’s FTSE MIB Index fell 0.31%.

 

Asia Pacific Markets

 

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.53%, Hong Kong’s Hang Seng Index falling 0.20% and China’s Shanghai Composite Index falling 0.30%. India’s S&P BSE Sensex, meanwhile, fell 0.1%.

Hong Kong’s trade deficit increased to $25.8 billion in October from $20.9 billion in the year-ago month. Profits earned by Chinese industrial firms fell by 7.8% year-over-year to CNY 6,115.42 billion in the first ten months of 2023, compared to a 9.0 % decline in the previous period.

 

Economics

 

U.S. new home sales declined by 5.6% to an annualized rate of 679,000 in October, compared to market estimates of 723,000.

Now Read This: Wall Street's Most Accurate Analysts Say Hold These 3 Health Care Stocks With Over 4% Dividend Yields