Crude Oil Falls Over 1%; Structure Therapeutics Shares Jump
U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 200 points on Monday.
The Dow traded down 0.46% to 47,733.58 while the NASDAQ fell 0.32% to 23,501.92. The S&P 500 also fell, dropping, 0.46% to 6,838.69.
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Leading and Lagging Sectors
Information technology shares jumped by 0.6% on Monday.
In trading on Monday, communication services stocks fell by 2.1%.
Top Headline
The one-year-ahead median inflation expectations in the US remained at 3.2% in November.
Equities Trading UP
- Structure Therapeutics Inc. (NASDAQ:GPCR) shares shot up 100% to $68.95 after the company announced topline data from the ACCESS clinical program of aleniglipron for the treatment of people living with obesity and/or overweight with at least one weight related co-morbidity.
- Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) got a boost, surging 124% to $16.77 after the company reported positive interim Phase 1 data showing its obesity drug WVE-007 delivered GLP-1-like fat loss at three months without muscle loss and was generally safe and well tolerated.
- Fulcrum Therapeutics, Inc. (NASDAQ:FULC) shares were also up, gaining 63% to $14.50 after the company reported initial results from the 20 mg dose cohort of its Phase 1b PIONEER trial of Pociredir in sickle cell disease, showing a clear dose-response and robust fetal hemoglobin induction at week 6.
Equities Trading DOWN
- SMX (Security Matters) Public Limited Company (NASDAQ:SMX) shares dropped 57% to $141.56 after jumping 135% on Friday.
- Shares of BiomX Inc. (NYSE:PHGE) were down 33% to $3.4398 after the company discontinued its Phase 2b trial of BX004 in cystic fibrosis patients with chronic Pseudomonas aeruginosa infections.
- Meihua International Medical Technologies Co., Ltd. (NASDAQ:MHUA) was down, falling 38% to $8.66 after the company announced that the company will be delisted from the Nasdaq.
Commodities
In commodity news, oil traded down 1.6% to $59.14 while gold traded down 0.6% at $4,219.60.
Silver traded down 1.1% to $58.395 on Monday, while copper fell 0.7% to $5.4225.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.07%, while Spain's IBEX 35 Index rose 0.14%. London's FTSE 100 fell 0.23%, Germany's DAX 40 gained 0.07% and France's CAC 40 fell 0.08% during the session.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei rising 0.18%, Hong Kong's Hang Seng dipping 1.23%, China's Shanghai Composite rising 0.54% and India's BSE Sensex declining 0.71%.
Economics
The one-year-ahead median inflation expectations in the US remained at 3.2% in November.
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