Crude Oil Gains Over 1%; ISM Manufacturing PMI Falls In November

U.S. stocks traded lower midway through trading, with the Dow Jones falling around 250 points on Monday.

The Dow traded down 0.53% to 47,465.86 while the NASDAQ fell 0.22% to 23,313.48. The S&P 500 also fell, dropping, 0.26% to 6,831.40.

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Leading and Lagging Sectors

Energy shares jumped by 1% on Monday.

In trading on Monday, utilities stocks fell by 2.1%.

Top Headline

The ISM manufacturing PMI declined to 48.2 in November, recording the lowest reading in four months, down from 48.7 in the previous month and also missing market estimates of 48.6.

Equities Trading UP
           

• Q32 Bio Inc. (NASDAQ:QTTB) shares shot up 103% to $4.4404 after the company sold its Phase 2 complement inhibitor ADX-097 to Akebia for $12 million upfront and potential milestone and royalty payments up to $592 million.
• Shares of New Fortress Energy Inc. (NASDAQ:NFE) got a boost, surging 15% to $1.4050 as investors digested news of the conditional approval of a large liquified natural gas supply contract.
• KALA BIO, Inc. (NASDAQ:KALA) shares were also up, gaining 86% to $1.8004 after the company announced it secured a $6 million securities purchase agreement. The company appointed David Lazar as CEO and Chairman of the Board.

Equities Trading DOWN

• Sionna Therapeutics, Inc. (NASDAQ:SION) shares dropped 16% to $36.42 after RBC Capital downgraded the stock from Sector Perform to Underperform.
• Shares of CN ENERGY GROUP Inc (NASDAQ:CNEY) were down 17% to $1.2101. CN Energy Group announced the launch of PATHENBOT Robotics Solutions Platform and PATHENBOT’s official website.
• Bitmine Immersion Technologies, Inc. (NASDAQ:BMNR) was down, falling 13% to $28.96. Shares of crypto-linked stocks traded lower after Bitcoin fell below $86,000.

Commodities

In commodity news, oil traded up 1.4% to $59.40 while gold traded up 0.2% at $4,263.90.

Silver traded up 2.8% to $58.765 on Monday, while copper rose 0.6% to $5.3050.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.20%, while Spain's IBEX 35 Index rose 0.11%. London's FTSE 100 fell 0.18%, Germany's DAX 40 dipped 1.04% and France's CAC 40 fell 0.32% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei dipping 1.89%, Hong Kong's Hang Seng gaining 0.67%, China's Shanghai Composite rising 0.65% and India's BSE Sensex falling 0.08%.

Economics

• The S&P Global manufacturing PMI was revised higher to 52.2 in November from a preliminary reading of 51.9, but down from October’s final reading of 52.5.
• The ISM manufacturing PMI declined to 48.2 in November, recording the lowest reading in four months, down from 48.7 in the previous month and also missing market estimates of 48.6.

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