Nasdaq Down Over 100 Points; US Wholesale Inventories Rise By 0.2%

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Monday.

Following the market opening Monday, the Dow traded down 0.18% to 44,562.45 while the NASDAQ fell 0.68% to 19,724.61. The S&P 500 also fell, dropping, 0.51% to 6,059.08.

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Leading and Lagging Sectors

Energy shares jumped by 1.2% on Monday.

In trading on Monday, communication services shares fell by 1.4%.

Top Headline

U.S. wholesale inventories increased by 0.2% month-over-month to $905 billion in October, in- line with the preliminary reading and compared to a 0.2% decline in the previous month.

Equities Trading UP

LeddarTech Holdings Inc. LDTC shares shot up 336% to $1.3280 after the company announced a collaboration with Texas Instruments for advanced driver assistance systems and autonomous driving solutions.
Shares of Fangdd Network Group Ltd. DUO got a boost, surging 126% to $1.3050. Shares of US-listed Chinese stocks traded higher following reports suggesting Chinese officials would embrace a ‘moderately loose’ monetary policy.
Asset Entities Inc. ASST shares were also up, gaining 83% to $0.8402.

Equities Trading DOWN

BioAge Labs, Inc. BIOA shares dropped 76% to $4.8350 as the company announced that it will discontinue the ongoing STRIDES Phase 2 study of its investigational drug candidate, azelaprag.
Shares of Universe Pharmaceuticals INC UPC were down 57% to $1.4501 after the company announced a definitive agreement with investors for the purchase and sale of 18.75 million ordinary shares, expecting gross proceeds of $15 million.
Radiopharm Theranostics Limited RADX was down, falling 45% to $10.50.

Commodities

In commodity news, oil traded up 2.1% to $68.64 while gold traded up 1.2% at $2,692.00.

Silver traded up 3.6% to $32.735 on Monday, while copper rose 2.1% to $4.2825.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.2%, Germany's DAX fell 0.1% and France's CAC 40 rose 0.8%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 rose 0.5%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 gaining 0.18%, Hong Kong's Hang Seng Index gaining 2.76%, China's Shanghai Composite Index falling 0.05% and India's BSE Sensex falling 0.25%.

Economics

U.S. wholesale inventories increased by 0.2% month-over-month to $905 billion in October, in- line with the preliminary reading and compared to a 0.2% decline in the previous month.

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