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S&P 500 Down Over 1%; US Retail Sales Increase 0.7% In March

Published 15/04/2024, 19:30
© Reuters.  S&P 500 Down Over 1%; US Retail Sales Increase 0.7% In March

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks turned lower toward the end of trading, with the S&P 500 falling more than 1% on Monday.

The Dow traded down 0.64% to 37,741.18 while the NASDAQ fell 1.68% to 15,902.96. The S&P 500 also fell, dropping, 1.14% to 5,065.04.

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Leading and Lagging Sectors

Health care shares rose by 0.01% on Friday.

In trading on Friday, information technology shares fell by 1.8%.

Top Headline

U.S. retail sales increased 0.7% month-over-month in March following a revised 0.9% rise in February.

Equities Trading UP

Soligenix, Inc. (NASDAQ: SNGX) shares shot up 34% to $0.5197 after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.

Shares of Longeveron Inc. (NASDAQ: LGVN) got a boost, surging 58% to $2.6750 following insider buys from multiple company executives.

Snap One Holdings Corp. (NASDAQ: SNPO) shares were also up, gaining 30% to $10.60 after the company announced that it will be acquired by Resideo Technologies.

Equities Trading DOWN

Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) shares dropped 81% to $1.4250 after the company provided an update on the Phase 3 RAISE trial and reported preliminary first-quarter financial results.

Shares of Neumora Therapeutics, Inc. (NASDAQ: NMRA) were down 11% to $12.02 after the FDA placed a clinical hold on the company's Phase 1 NMRA-266 study.

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) was down, falling 10% to $42.73 after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.

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In commodity news, oil traded down 0.6% to $85.17 while gold traded up 0.3% at $2,381.50.

Silver traded up 1.6% to $28.795 on Friday, while copper rose 2.3% to $4.3575.

Euro zone

European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.13%, London’s FTSE 100 fell 0.38% while Spain’s IBEX 35 Index rose 0.01% The German DAX gained 0.54% French CAC 40 climbed 0.43% while Italy’s FTSE MIB Index jumped 0.56%.

Industrial production in the eurozone increased by 0.8% month-over-month in February.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.74%, Hong Kong’s Hang Seng Index dropping 0.72%, China’s Shanghai Composite gaining 1.26% and India’s S&P BSE Sensex dipping 1.14%.

Indian merchandise trade deficit shrank to $15.6 billion in March versus a year-ago gap of $18.1 billion, while wholesale prices rose by 0.53% year-over-year in March versus a 0.20% gain in the prior month.


The NY Empire State Manufacturing Index climbed to -14.3 in April versus prior month’s reading of -20.9.

Retail sales increased 0.7% month-over-month in March following a revised 0.9% rise in February.

The NAHB/Wells Fargo Housing Market Index in came in unchanged at 51.0 in April.

Total business inventories increased by 0.4% month-over-month in February, versus market expectations of a 0.3% rise.

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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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