Crude Oil Moves Higher; Oxford Industries Shares Fall After Q4 Results

U.S. stocks traded lower midway through trading, with the Dow Jones falling over 300 points on Monday.

The Dow traded down 0.79% to 39,492.80 while the NASDAQ fell 0.22% to 16,344.11. The S&P 500 also fell, dropping, 0.45% to 5,230.46.

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Leading and Lagging Sectors

 

Communication services shares jumped by 1.1% on Monday.

In trading on Monday, real estate shares fell by 1.8%.

 

Top Headline

 

Shares of Oxford Industries, Inc. OXM fell more than 4% on Monday after the company reported downbeat financial results for its fourth quarter and issued weak guidance for the first quarter on Thursday.

 

Equities Trading UP

 

CXApp Inc. CXAI shares shot up 143% to $5.95 after the company announced a partnership with Google Cloud for acceleration of the CXAI platform.

Shares of Sunshine Biopharma, Inc. SBFM got a boost, surging 87% to $0.1138 after the company FY23 operating results.

Doma Holdings Inc. DOMA shares were also up, gaining 34% to $6.07 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.

 

Equities Trading DOWN

 

Nuvve Holding Corp. NVVE shares dropped 29% to $0.7798 after the company reported worse-than-expected fourth-quarter financial results.

Shares of AEON Biopharma, Inc. AEON were down 41% to $6.86 after the company reported a fourth-quarter loss of 71 cents per share.

Disc Medicine, Inc. IRON was down, falling 50% to $31.25 after the company reported topline results from the Phase 2 AURORA study of bitopertin in patients with EPP.

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Commodities

 

In commodity news, oil traded up 0.9% to $83.92 while gold traded up 0.9% at $2,259.20.

Silver traded up 0.8% to $25.12 on Monday, while copper rose 1% to $4.0475.

Economics

 

The ISM Manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.

U.S. construction spending fell by 0.3% from the prior month in February.

The S&P Global manufacturing PMI was revised lower to 51.9 in March compared to a preliminary reading of 52.5.

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