Dow Dips 200 Points; Q32 Bio Shares Jump

U.S. stocks traded lower this morning, with the Dow Jones falling around 200 points on Monday.

Following the market opening Monday, the Dow traded down 0.42% to 47,515.41 while the NASDAQ fell 1.08% to 23,113.36. The S&P 500 also fell, dropping, 0.68% to 6,802.39.

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Leading and Lagging Sectors

Energy shares jumped by 1% on Monday.

In trading on Monday, communication services stocks fell by 1.2%.

Top Headline

The S&P Global manufacturing PMI was revised higher to 52.2 in November from a preliminary reading of 51.9, but down from October’s final reading of 52.5.

Equities Trading UP
           

• Q32 Bio Inc. (NASDAQ:QTTB) shares shot up 171% to $5.91 after the company sold its Phase 2 complement inhibitor ADX-097 to Akebia for $12 million upfront and potential milestone and royalty payments up to $592 million.
• Shares of Ambitions Enterprise Management Co. L.L.C (NASDAQ:AHMA) got a boost, surging 102% to $9.75.
• KALA BIO, Inc. (NASDAQ:KALA) shares were also up, gaining 47% to $1.42 after the company announced it secured a $6 million securities purchase agreement. The company appointed David Lazar as CEO and Chairman of the Board.

Equities Trading DOWN

• Paranovus Entertainment Technology Ltd. (NASDAQ:PAVS) shares dropped 81% to $0.1996.
• Shares of CN ENERGY GROUP Inc (NASDAQ:CNEY) were down 18% to $1.19. CN Energy Group announced the launch of PATHENBOT Robotics Solutions Platform and PATHENBOT’s official website.
• Rubico Inc (NASDAQ:RUBI) was down, falling 19% to $0.13. Rubico recently announced a 1-for-30 reverse stock split.

Commodities

In commodity news, oil traded up 1.7% to $59.53 while gold traded up 0.2% at $4,261.40.

Silver traded up 0.9% to $57.62 on Monday, while copper rose 0.8% to $5.3150.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, while Spain’s IBEX 35 Index fell 0.1%. London’s FTSE 100 rose 0.1%, Germany’s DAX 40 dipped 1.1% and France’s CAC 40 fell 0.4% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei dipping 1.89%, Hong Kong’s Hang Seng gaining 0.67%, China’s Shanghai Composite rising 0.65% and India’s BSE Sensex falling 0.08%.

Economics

The S&P Global manufacturing PMI was revised higher to 52.2 in November from a preliminary reading of 51.9, but down from October’s final reading of 52.5.

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