Crude Oil Falls Sharply; Carnival Posts Upbeat Earnings

Author: Avi Kapoor | September 29, 2025 01:14pm

U.S. stocks traded mixed midway through trading, with the Dow Jones falling more than 50 points on Monday.

The Dow traded down 0.12% to 46,190.92 while the NASDAQ rose 0.40% to 22,574.89. The S&P 500 also rose, gaining, 0.13% to 6,652.27.

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Leading and Lagging Sectors

Information technology shares jumped by 0.6% on Monday.

In trading on Monday, energy stocks fell by 1.9%.

Top Headline

Carnival (NYSE: CCL) reported better-than-expected earnings for the third quarter.

The company posted quarterly earnings of $1.43 per share which beat the analyst consensus estimate of $1.32 per share. The company reported quarterly sales of $8.153 billion which beat the analyst consensus estimate of $8.101 billion.

Equities Trading UP
           

• Tilray Brands, Inc. (NASDAQ: TLRY) shares shot up 40% to $1.6050. Shares of cannabis-linked stocks traded higher after President Donald Trump posted a video on Truth Social on Sunday, promoting the potential health benefits of cannabis.
• Shares of Merus N.V. (NASDAQ: MRUS) got a boost, surging 36% to $93.93 after Genmab agreed to acquire the company for $97 per share.
• Better Home & Finance Holding Company (NASDAQ: BETR) shares were also up, gaining 17% to $62.23. Better Home & Finance Holding implemented $75 million at-the-market offering for Class A shares to support growth initiatives.

Equities Trading DOWN

• KALA BIO, Inc. (NASDAQ: KALA) shares dropped 89% to $2.15 after the company disclosed that topline results from CHASE Phase 2b clinical trial evaluating KPI-012 for the treatment of persistent corneal epithelial defect did not meet primary endpoint.
• Shares of MoonLake Immunotherapeutics (NASDAQ: MLTX) were down 89% to $6.69 after the company’s hidradenitis suppurativa trial failed to achieve statistical significance due to better-than-expected placebo response.
• IO Biotech, Inc. (NASDAQ: IOBT) was down, falling 78% to $0.3501 after the company issued an update following pre-BLA meeting with the FDA.

Commodities

In commodity news, oil traded down 3.7% to $63.30 while gold traded up 1.3% at $3,860.30.

Silver traded up 1.1% to $47.190 on Monday, while copper rose 2.3% to $4.8830.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.18%, while Spain's IBEX 35 Index fell 0.22%. London's FTSE 100 rose 0.16%, Germany's DAX 40 gained 0.02% and France's CAC 40 climbed 0.13% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 0.69%, Hong Kong's Hang Seng gaining 1.89%, China's Shanghai Composite rising 0.90% and India's BSE Sensex falling 0.08%.

Economics

• U.S. pending home sales surged by 4% from the previous month in August, recording the sharpest gain in five months and compared to a 0.4% decline in the previous month.
• The Dallas Fed's general business activity index for Texas manufacturing declined to -8.7 in September compared to -1.7 in the previous month.

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Posted In: BETR CCL IOBT KALA MLTX MRUS TLRY