Dow Gains Over 100 Points; Steel Dynamics Posts Downbeat Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.33% to 49,259.65 while the NASDAQ gained 0.09% to 23,521.63. The S&P 500 also rose, gaining, 0.26% to 6,933.84.

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Leading and Lagging Sectors

Materials shares gained by 0.8% on Monday.

In trading on Monday, health care stocks dipped by 0.2%.

Top Headline

Steel Dynamics Inc (NASDAQ:STLD) reported downbeat earnings for the fourth quarter on Monday.

The company posted quarterly earnings of $1.82 per share which missed the analyst consensus estimate of $1.95 per share. The company reported quarterly sales of $4.414 billion which missed the analyst consensus estimate of $4.575 billion.

Equities Trading UP
           

• Battalion Oil Corp (NYSE:BATL) shares shot up 379% to $6.13 after the company switched its gas processing partner and boosted production.
• Shares of Brand Engagement Network Inc (NASDAQ:BNAI) got a boost, surging 196% to $48.79 following a strategic partnership announcement that has reinvigorated investor interest.
• Gaxos.ai Inc. (NASDAQ:GXAI) shares were also up, gaining 76% to $1.97.

Equities Trading DOWN

• Mingteng International Corp Inc (NASDAQ:MTEN) shares dropped 36% to $2.16.
• Shares of CN ENERGY GROUP Inc (NASDAQ:CNEY) were down 35% to $0.52 after the company received Nasdaq Delisting determination for minimum bid price deficiency.
• 60 Degrees Pharmaceuticals Inc (NASDAQ:SXTP) was down, falling 23% to $3.52 after dipping 10% on Friday.

Commodities

In commodity news, oil traded down 0.6% to $60.72 while gold traded up 1.8% at $5,068.50.

Silver traded up 8.1% to $109.565 on Monday, while copper rose 0.5% to $5.9770.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.1%, while Spain's IBEX 35 Index rose 0.4%. London's FTSE 100 rose 0.1%, Germany's DAX fell 0.1% and France's CAC 40 fell 0.2% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 1.79%, Hong Kong's Hang Seng Index gaining 0.06% and China's Shanghai Composite declining 0.09%.

Economics

• The Chicago Fed National Activity Index climbed to -0.04 in November from a reading of -0.42 in October.
• U.S. durable-goods orders rose 5.3% month-over-month in November following a revised 2.1% plunge in October and topping market estimates of a 3.7% increase.

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