Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks traded mixed midway through trading, with the Nasdaq Composite moving higher on Monday.
The Dow traded down 0.23% to 35,310.40 while the NASDAQ rose 0.21% to 14,280.12. The S&P 500 also fell, dropping, 0.07% to 4,556.10.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 0.5% on Monday.
In trading on Monday, energy shares fell by 0.7%.
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. (NASDAQ: RDHL) shares shot up 166% to $0.8397 after the company announced the FDA has granted five years' market exclusivity for Talicia.
Shares of Biodexa Pharmaceuticals Plc (NASDAQ: BDRX) got a boost, shooting 157% to $6.87 after the company announced it entered into agreements to acquire an exclusive worldwide license to tolimidone.
Asset Entities Inc. (NASDAQ: ASST) shares were also up, gaining 53% to $0.5355 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. (NASDAQ: 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. (NASDAQ: RILY) were down 7% to $19.41 after gaining 8% on Friday. Impel Pharmaceuticals recently announced exploration of strategic alternatives.
Anavex Life Sciences Corp. (NASDAQ: AVXL) was down, falling 8% to $6.48 after the company reported fourth-quarter financial results.
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Commodities
In commodity news, oil traded up 0.3% to $75.80 while gold traded up 0.6% at $2,014.10.
Silver traded up 1.9% to $24.80 on Monday while copper fell 0.8% to $3.7575.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.14%, London’s FTSE 100 fell 0.24% while Spain’s IBEX 35 Index rose 0.24% The German DAX fell 0.17% French CAC 40 slipped 0.06%, while Italy’s FTSE MIB Index fell 0.03%.
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.
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