U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.5% on Monday.
Following the market opening Monday, the Dow traded down 0.19% to 39,925.91 while the NASDAQ rose 0.50% to 16,769.45. The S&P 500 also rose, gaining, 0.19% to 5,313.25.
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Leading and Lagging SectorsInformation technology shares rose by 0.9% on Monday.
In trading on Monday, real estate shares fell by 0.6%.
Top Headline
Shares of Li Auto Inc (NASDAQ:LI) dipped more than 14% on Monday after the company reported fiscal first-quarter 2024 results.
The company posted revenue growth of 36.4% year-on-year to $3.55 billion, missing the analyst consensus estimate of $3.84 billion. Adjusted net earnings per ADS was 17 cents missed the analyst consensus estimate of 35 cents.
Equities Trading UP
- GT Biopharma, Inc. (NASDAQ:GTBP) shares shot up 142% to $7.54. GT Biopharma, last week, posted a narrower-than-expected quarterly loss.
- Shares of Tantech Holdings Ltd (NASDAQ:TANH) got a boost, surging 119% to $1.44.
- MultiMetaVerse Holdings Limited (NASDAQ:MMV) shares were also up, gaining 102% to $1.25. MultiMetaVerse Holdings signed a non-binding term sheet to acquire 100% of Bowong Technology (Shenzhen) Co., Ltd. and its subsidiaries.
Equities Trading DOWN
- Virios Therapeutics, Inc. (NASDAQ:VIRI) shares dropped 49% to $0.1790 after the company priced a $1.7 million pubic offering of 8.5 million shares of common stock at $0.20 per share.
- Shares of Akoustis Technologies, Inc. (NASDAQ:AKTS) were down 47% to $0.1899 after Qorvo won a jury verdict against the company in a trade secret misappropriation and patent infringement case.
- Jaguar Health, Inc (NASDAQ:JAGX) was down, falling 44% to $0.1457 after the company announced a 1-for-60 reverse stock split.
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CommoditiesIn commodity news, oil traded down 0.4% to $79.74 while gold traded up 0.8% at $2,436.90.
Silver traded up 1.9% to $31.84 on Monday, while copper rose 0.7% to $5.0860.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.2%, Germany's DAX rose 0.4% and France's CAC 40 climbed 0.5%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 rose 0.3%.
Spain’s consumer confidence indicator climbed to 84.5 in April compared to 82.5 in March. The construction output in Italy rose by 3.8% year-over-year in March.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei gaining 0.73%, China's Composite Index climbing 0.54%, Hong Kong's Hang Seng Index gaining 0.42% and India's S&P BSE Sensex gaining 0.46%.
Hong Kong's unemployment rate came in unchanged at 3% in the three months ending April 2024. Malaysia’s trade surplus shrank to MYR 7.7 billion in April from MYR 12.6 billion in the year-ago month. The People’s Bank of China held key lending rates at the recent fixing.
Economics
No major economic reports will be released today.
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