U.S. stocks traded lower this morning, with the Nasdaq Composite dropping over 100 points on Monday.
The Dow traded down 0.27% to 31,415.99 while the NASDAQ fell 0.94% to 11,498.08. The S&P also fell, dropping, 0.45% to 3,894.05.
Also check this: U.S. Durable Goods Orders And Other Macro Issues For Monday
Leading and Lagging Sectors
Energy shares jumped by 1.3% on Monday. Meanwhile, top gainers in the sector included HighPeak Energy, Inc. NASDAQ:HPK, up 5% and Martin Midstream Partners L.P. NASDAQ:MMLP up 14%.
In trading on Monday, materials shares fell by 0.9%.
Top Headline
U.S durable goods orders rose 0.7% month-over-month in May, recording the third straight month of gain and exceeding market estimates of a 0.1% rise.
Equities Trading UP
Axsome Therapeutics, Inc. NASDAQ:AXSM shares shot up 38% to $33.72 after the company received proposed labeling from the U.S. Food and Drug Administration for its treatment of major depressive disorder.
Shares of GreenLight Biosciences Holdings NASDAQ:GRNA got a boost, shooting 24% to $3.36.
Martin Midstream Partners L.P. NASDAQ:MMLP shares were also up, gaining 14% to $4.1610. Martin Midstream Partners recently filed for mixed shelf of up to $250 million.
Equities Trading DOWN
Borqs Technologies, Inc. NASDAQ:BRQS shares tumbled 25% to $2.1392 following effect of 1:16 reverse stock split.
Shares of Wrap Technologies, Inc. NASDAQ:WRAP were down 13% to $2.04.
Polestar Automotive Holding UK PLC NASDAQ:PSNY was down, falling 13% to $11.28 amid post-SPAC merger volatility following the company's Friday debut as a public company.
Also check out: Nike, Jefferies + 3 Stocks To Watch Heading Into Monday
Commodities
In commodity news, oil traded down 1.4% to $106.07, while gold traded up 0.1% to $1,830.80.
Silver traded up 0.8% to $21.29 on Monday while copper rose 0.3% to $3.7510.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, London's FTSE 100 rose 0.4% while Spain's IBEX 35 Index fell 0.6%. The German DAX gained 0.2%, French CAC 40 fell 0.6% and Italy's FTSE MIB Index fell 1%.
Economics
U.S durable goods orders rose 0.7% month-over-month in May, recording the third straight month of gain and exceeding market estimates of a 0.1% rise.
The pending home sales index rose to 99.90 in May from prior reading of 99.20.
The Treasury is set to auction 6-month bills and 2-year notes at 11:30 a.m. ET.
The Treasury will auction 3-month bills and 5-year notes at 1:00 p.m. ET.
Check out this: U.S. Stock Futures Higher Following Friday's Rally
Check out our premarket coverage here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 88,794,280 cases with around 1,040,800 deaths. India confirmed a total of at least 43,407,040 cases and 525,020 deaths, while Brazil reported over 32,078,630 COVID-19 cases with 670,450 deaths. In total, there were at least 549,063,210 cases of COVID-19 worldwide with more than 6,351,060 deaths.
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