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News

US Stocks Mixed; Dow Falls 100 Points

Author: Lisa Levin | October 02, 2023 09:59am

U.S. stocks traded mixed this morning, with the Dow Jones falling around 100 points on Monday.

Following the market opening Monday, the Dow traded down 0.31% to 33,404.26 while the NASDAQ rose 0.38% to 13,269.83. The S&P 500 also fell, dropping, 0.09% to 4,284.19.

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Leading and Lagging Sectors

Communication services shares rose by 1% on Monday.

In trading on Monday, utilities shares fell by 1.6%.

 

Top Headline

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

 

Equities Trading UP

AERWINS Technologies Inc. (NASDAQ:AWIN) shares shot up 101% to $0.2432 after the company said it is considering strategic alternatives for its non-core operations.

Shares of IceCure Medical Ltd (NASDAQ:ICCM) got a boost, shooting 60% to $0.89 after the company said new data was presented at the European Society of Breast Imaging Scientific Meeting in Valencia, Spain by Lucía Graña-López, MD, PhD, principal investigator of the independent, non-sponsored study.

Femasys Inc. (NASDAQ:FEMY) shares were also up, gaining 36% to $4.0635. Femasys shares jumped 46% on Friday after HC Wainwright maintained a Buy rating on the stock and raised its price target from $5 to $13.

 

Equities Trading DOWN

SmileDirectClub, Inc. (NASDAQ:SDC) shares dropped 61% to $0.16 after the company filed for Chapter 11 bankruptcy.

Shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) were down 56% to $0.4638 as the company announced pricing of $4,000,000 underwritten public offering.

Phoenix Motor Inc. (NASDAQ:PEV) was down, falling 24% to $0.8210 after the company signed a non-binding convertible bond term sheet of up to $300 million in funding with a California-based investor to support the potential acquisition opportunity of commercial electric vehicle assets for which Phoenix has submitted interest.

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Commodities

In commodity news, oil traded up 0.1% to $90.83 while gold traded down 0.9% at $1,850.00.

Silver traded down 3.8% to $21.60 on Monday while copper fell 1.8% to $3.6710.

 

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.6% London’s FTSE 100 fell 0.6% while Spain’s IBEX 35 Index fell 0.1% The German DAX fell 0.4% French CAC 40 fell 0.4%, while Italy’s FTSE MIB Index fell 0.5%.

The eurozone unemployment rate declined to 6.4% in August, the lowest on record, compared to revised 6.5% in the prior month, while manufacturing PMI was fell slightly to 43.4 in September from the prior month's level of 43.5.

The S&P Global/CIPS UK’s manufacturing PMI rose slightly to 44.3 in September versus flash reading of 44.2. German manufacturing PMI was revised lower to 39.6 in September from a preliminary level of 39.8, while French manufacturing PMI rose to 44.2 in September from a preliminary estimate of 43.6.

 

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.31% and Australia’s S&P/ASX 200 falling 0.22%.

The au Jibun Bank Japan manufacturing PMI was revised lower to 48.5 in September from a flash level of 48.6, while private home prices in Singapore rose by 0.5% quarter-on-quarter in the third quarter.

 

Economics

The S&P Global manufacturing PMI rose to 49.8 for September, compared to preliminary estimate of 48.9 and versus August’s reading of 47.9.

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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 108,752,790 cases with around 1,177,280 deaths. India confirmed a total of at least 44,998,830 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 696,038,990 cases of COVID-19 worldwide with more than 6,921,810 deaths.

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