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U.S. stocks traded lower this morning, with the Dow Jones index falling around 150 points on Monday.
The Dow traded down 0.39% to 39,344.36 while the NASDAQ fell 0.15% to 16,719.45. The S&P 500 also fell, dropping, 0.24% to 5,331.60.
Leading and Lagging Sectors
Information technology shares climbed by 0.9% on Monday.
In trading on Monday, real estate shares fell 0.6%.
Top Headline
Monday.com Ltd (NASDAQ:MNDY) reported better-than-expected earnings for its fiscal second quarter.
The company posted revenue growth of 34% Y/Y to $236.1 million, beating the analyst consensus estimate of $228.8 million. The project management software company's adjusted EPS of 94 cents beat the analyst consensus estimate of 56 cents.
Monday.com expects third-quarter revenue of $243 million–$247 million (versus the consensus of $243.05 million) and adjusted operating margin of 8%–9%. Monday.com expects 2024 revenue guidance of $956 million—$961 million (prior $942 million—$948 million) against the consensus of $947.79 million and an adjusted operating margin of 10%—11% (prior 8%—9%).
Equities Trading UP
Equities Trading DOWN
Commodities
In commodity news, oil traded up 1.4% to $78.00 while gold traded up 0.6% at $2,488.20.
Silver traded up 1.2% to $27.91 on Monday, while copper rose 1.4% to $4.0495.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, Germany's DAX rose 0.2% and France's CAC 40 fell 0.1%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 rose 0.5%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&P BSE Sensex falling 0.07%.
Economics
The US government budget report will be released today.
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