Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks traded lower this morning, with the Nasdaq Composite falling over 100 points on Monday.
Following the market opening Monday, the Dow traded down 0.13% to 36,198.88 while the NASDAQ fell 0.96% to 14,167.63. The S&P 500 also fell, dropping, 0.56% to 4,569.05.
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Leading and Lagging Sectors
Consumer staples shares rose by 0.4% on Monday.
In trading on Monday, information technology shares fell by 1.7%.
Top Headline
Alaska Air Group Inc (NYSE: ALK) penned an acquisition deal with Hawaiian Holdings Inc (NASDAQ: HA) worth approximately $1.9 billion, including $0.9 billion of HA's net debt.
Equities Trading UP
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) shares shot up 177% to $18.36 after the company announced the Phase 2 DAVIO 2 trial of EYP-1901 in wet AMD achieved all primary and secondary endpoints.
Shares of Hawaiian Holdings, Inc. (NASDAQ: HA) got a boost, shooting 174% to $13.32 after Alaska Air Group, Inc. (NYSE: ALK) announced plans to acquire the company in a deal worth $1.9 billion.
Alterity Therapeutics Limited (NASDAQ: ATHE) shares were also up, gaining 162% to $4.3571 after the company announced that ATHE434 new data in a Parkinson's disease primate model were presented at the Future of Parkinson's Disease Conference 2023.
Equities Trading DOWN
U Power Limited (NASDAQ: UCAR) shares dropped 42% to $0.90 after the company announced pricing of registered follow-on offering of 10 million units at a purchase price of $1.20 per unit.
Shares of Dune Acquisition Corporation (NASDAQ: DUNE) were down 38% to $4.60.
NexImmune, Inc. (NASDAQ: NEXI) was down, falling 34% to $3.97.
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Commodities
In commodity news, oil traded down 0.9% to $73.41 while gold traded down 1.1% at $2,066.20.
Silver traded down 2% to $25.34 on Monday while copper fell 1.8% to $3.8610.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index rose 0.3% The German DAX rose 0.1% French CAC 40 fell 0.3%, while Italy’s FTSE MIB Index fell 0.1%.
Germany’s trade surplus widened to EUR 17.8 billion in October versus a revised EUR 16.7 billion a month ago.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.60%, Hong Kong’s Hang Seng Index falling 1.09% and China’s Shanghai Composite Index falling 0.29%. India’s S&P BSE Sensex, meanwhile, climbed 2.05%.
Retail sales in Australia fell by 0.2% month-over-month in October, while business inventories unexpectedly climbed by 1.2% quarter-over-quarter during the third quarter. The Melbourne Institute's Monthly Inflation Gauge increased 0.3% for November.
Economics
Data on factory orders will be released at 10:00 a.m. ET.
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