Crude Oil Surges 2%; Chicago Fed National Activity Index Edges Lower in July

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 250 points on Monday.

The Dow traded down 0.63% to 45,345.83 while the NASDAQ rose 0.08% to 21,514.02. The S&P 500 also fell, dropping, 0.19% to 6,454.33.

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Leading and Lagging Sectors

Communication services shares jumped by 0.9% on Monday.

In trading on Monday, consumer staples stocks fell by 1.3%.

Top Headline

The Chicago Fed National Activity Index declined to -0.19 in July versus a revised reading of -0.18 in June.

Equities Trading UP
           

• Aehr Test Systems, Inc. (NASDAQ:AEHR) shares shot up 38% to $24.90 after the company received follow-on orders for six package-level test and burn-in systems.
• Shares of Capstone Holding Corp. (NASDAQ:CAPS) got a boost, surging 58% to $1.7350. Capstone announced the closing of its previously announced acquisition of Carolina Stone Products ahead of schedule.
• HCW Biologics Inc. (NASDAQ:HCWB) shares were also up, gaining 60% to $5.49 after the company announced its scientists have developed pembrolizumab-based immunotherapeutics against solid tumors.

Equities Trading DOWN

• Valneva SE (NASDAQ:VALN) shares dropped 21% to $9.24 after the FDA suspended the license for IXCHIQ.
• Shares of ModivCare Inc. (NASDAQ:MODV) were down 32% to $0.7330 after the company received Nasdaq delisting letter following Chapter 11 filing.
• EpicQuest Education Group International Limited (NASDAQ:EEIQ) was down, falling 42% to $0.7161 after the company announced a $3.7 million registered direct offering of 5.07 million shares at $0.73 per share.

Commodities

In commodity news, oil traded up 2% to $64.96 while gold traded up 0.1% at $3,418.90.

Silver traded down 0.7% to $38.795 on Monday, while copper rose 0.5% to $4.4815.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.44%, while Spain's IBEX 35 Index fell 0.85%. Germany's DAX 40 fell 0.37% and France's CAC 40 fell 1.59% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 0.41%, Hong Kong's Hang Seng gaining 1.94%, China's Shanghai Composite gaining 1.51% and India's BSE Sensex gaining 0.40%.

Economics

• The Dallas Fed's general business activity index for Texas manufacturing declined to -1.8 in August compared to 0.9 in the previous month.
• Sales of new single-family homes in the U.S. fell by 0.6% to an annualized rate of 652,000 units in July following a revised 4.1% gain in the previous period.
• The Chicago Fed National Activity Index declined to -0.19 in July versus a revised reading of -0.18 in June.
• Building permits fell by 2.2% to an annualized rate of 1.362 million in June.

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