Crude Oil Falls 5%; US ISM Manufacturing PMI Surges In January

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 150 points on Monday.

The Dow traded up 0.99% to 49,374.44 while the NASDAQ gained 0.74% to 23,634.78. The S&P 500 also rose, gaining, 0.65% to 6,984.27.

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Leading and Lagging Sectors

Information technology shares gained by 0.8% on Monday.

In trading on Monday, energy stocks fell by 1.6%.

Top Headline

The ISM Manufacturing PMI climbed to 52.6 in January from 47.9 in the previous month and topping market estimates of 48.5.

Equities Trading UP
           

• Darkiris Inc. (NASDAQ:DKI) shares shot up 112% to $0.71 after the company reported a year-over-year increase in FY25 revenue results.
• Shares of Fusemachines Inc. (NASDAQ:FUSE) got a boost, surging 88% to $2.97 after the company announced a partnership with ModulAIre to bring Fusemachines AI Studio and related AI services to enterprise clients seeking to operationalize AI at scale within IBM-based environments.
• Peakstone Realty Trust (NYSE:PKST) shares were also up, gaining 33% to $20.78. Brookfield announced plans to acquire Peakstone Realty Trust in a $1.2 billion all-cash transaction.

Equities Trading DOWN

• Elong Power Holding Limited (NASDAQ:ELPW) shares dropped 91% to $1.29 after the company announced pricing of $7.6 million public offering.
• Shares of Phoenix Asia Holdings Limited (NASDAQ:PHOE) were down 81% to $25.00.
• Yext Inc (NYSE:YEXT) was down, falling 19% to $5.80 after the company announced the CEO withdrew his acquisition proposal and a it approved a $150 million self-tender offering.

Commodities

In commodity news, oil traded down 5% to $61.98 while gold traded down 0.9% at $4,704.70.

Silver traded down 0.6% to $78.065 on Monday, while copper fell 1.8% to $5.8185.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1%, while Spain's IBEX 35 Index rose 1.2%. London's FTSE 100 rose 0.91%, Germany's DAX gained 1.16% and France's CAC 40 gained 0.82% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 1.25%, Hong Kong's Hang Seng Index dipping 2.23%, China's Shanghai Composite falling 2.48% and India's BSE Sensex gaining 1.17%.

Economics

• The S&P Global manufacturing PMI rose to 52.4 in January, up from the preliminary reading of 51.9 and versus December's five-month low level of 51.8.
• The ISM Manufacturing PMI climbed to 52.6 in January from 47.9 in the previous month and topping market estimates of 48.5.

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