Nasdaq Down 200 Points; Brady Earnings Top Views

U.S. stocks traded mostly lower this morning, with the Nasdaq Composite falling around 200 points on Monday.

Following the market opening Monday, the Dow traded down 0.04% to 49,506.27 while the NASDAQ dipped 0.78% to 26,021.41. The S&P 500 also fell, dropping, 0.37% to 7,380.86.

Leading and Lagging Sectors

Energy shares jumped by 1.8% on Monday.

In trading on Monday, information technology stocks fell by 1.6%.

Top Headline

Brady Corporation (NYSE:BRC) reported upbeat first-quarter earnings on Monday before the market opened.

Brady reported adjusted earnings per share of $1.50, beating the consensus estimate of $1.34. In addition, it reported revenue of $435.23 million, beating the consensus estimate of $406.07 million, and representing a 13.8% increase year-over-year.

Equities Trading UP
           

• Sunshine Biopharma Inc (NASDAQ:SBFM) shares shot up 349% to $1.28 after dipping 39% on Friday.
• Shares of Virax Biolabs Group Ltd (NASDAQ:VRAX) got a boost, surging 143% to $0.37.
• Wellgistics Health Inc (NASDAQ:WGRX) shares were also up, gaining 111% to $0.18 after the company announced that it continues to evaluate potential strategic transactions.

Equities Trading DOWN

• AiRWA Inc (NASDAQ:YYAI) shares dropped 28% to $10.80.
• Shares of Aditxt Inc (NASDAQ:ADTX) were down 10% to $1.54.
• Design Therapeutics Inc (NASDAQ:DSGN) was down, falling 26% to $10.69. The company announced biomarker and clinical data from the ongoing Phase 1/2 RESTORE-FA trial evaluating DT-216P2 in patients with Friedreich ataxia.

Commodities

In commodity news, oil traded up 1.4% to $106.93 while gold traded down 0.3% at $4,546.40.

Silver traded down 0.6% to $77.070 on Monday, while copper rose 0.2% to $6.3065.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.5%, while Spain's IBEX 35 Index rose 0.8%. London's FTSE 100 gained 1.3%, Germany's DAX rose 1.5%, while France's CAC 40 rose 0.4%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 0.97%, Hong Kong's Hang Seng Index dipping 1.11%, China's Shanghai Composite declining 0.09% and India's BSE Sensex gaining 0.10%

Economics

• The NAHB/Wells Fargo Housing Market Index climbed to 37 in May from 34 in April.
• The New York Fed's Services Business Activity Index rose 8.2 points to a reading of -5.8 in May.

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