Mid-Day Market Update: Dow Drops Over 100 Points; Hilltop Holdings Shares Spike Higher
U.S. stocks traded mostly lower midway through trading, with the Dow Jones dropping more than 100 points on Monday.
The Dow traded down 0.42% to 32,837.09 while the NASDAQ rose 0.03% to 12,338.47. The S&P also fell, dropping, 0.39% to 4,115.72.
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Leading and Lagging Sectors
Communication services shares climbed 1.9% on Monday. Meanwhile, top gainers in the sector included Redbox Entertainment Inc. NASDAQ:RDBX, up 39% and Luokung Technology Corp. NASDAQ:LKCO up 14%.
In trading on Monday, consumer staples shares fell by 0.2%.
Top Headline
The ISM manufacturing PMI dropped for a second straight month to 55.4 in April from 57.1 in March. However, analysts were expecting a reading of 57.6.
Equities Trading UP
Hilltop Holdings Inc. NYSE:HTH shares shot up 18% to
Shares of Accolade, Inc. NASDAQ:ACCD got a boost, shooting 25% to
Blue Apron Holdings, Inc. NYSE:APRN shares were also up, gaining 31% to
Equities Trading DOWN
Global Cord Blood Corporation NYSE:CO shares tumbled 29% to
Shares of First Wave BioPharma, Inc. NASDAQ:FWBI were down 36% to
Zosano Pharma Corporation NASDAQ:ZSAN was down, falling 21% to
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Commodities
In commodity news, oil traded down 2.7% to
Silver traded down 2.5% Monday to
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 1.09%, while
The S&P Global Eurozone manufacturing PMI rose to 55.5 in April from an initial estimate of 55.3. The consumer confidence indicator in the Eurozone dropped to -22 in April, recording the worst since
The unemployment rate in
Economics
The S&P Global manufacturing PMI was revised lower to 59.2 in April from a preliminary reading of 59.7, but remained above the March's level of 58.8.
The ISM manufacturing PMI dropped for a second straight month to 55.4 in April from 57.1 in March. However, analysts were expecting a reading of 57.6.
US construction spending rose 0.1% for March.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 83,083,420 cases with around 1,020,850 deaths.