As the trading day drew to a close, U.S. stocks presented a mixed picture today with the Dow Jones index edging lower on Monday.
The Dow saw a decline of 0.08% to 39,101.76, while the NASDAQ inched up by 0.04% to 16,003.09. Conversely, the S&P 500 retreated by 0.24% to 5,076.80.
Sector Performance Insight
On this trading day, energy shares experienced a 0.5% rise.
Meanwhile, the utilities sector saw a 1.7% decline in trading.
Highlight of the Day
Pilgrim’s Pride Corporation PPC marked a stellar performance by surpassing fourth-quarter expectations.
The entity reported a robust fourth-quarter fiscal 2023 sales growth of 9.7% year-over-year, reaching $4.528 billion, toppling the consensus of $4.47 billion. Furthermore, their adjusted EPS stood at 59 cents, a considerable improvement from the prior year’s loss of 49 cents, exceeding the consensus of 40 cents.
Noteworthy Stock Movements Upwards
Akili, Inc. AKLI observed a surge of 116%, reaching $0.4782 following its announcement about positive results from Shionogi’s Phase 3 clinical trial conducted on a localized version of Akili’s EndeavorRx® for Pediatric ADHD patients in Japan.
Additionally, Interactive Strength Inc. TRNR jumped by 41% to $0.9299 subsequent to revealing an exclusive worldwide distribution agreement with WOODWAY for selling and distributing CLMBR.
Agiliti, Inc. AGTI surged by 29% to $9.86 after announcing its privatization by THL Partners.
Stock Movements Downwards
Aclarion, Inc. ACON experienced a dip of 65% to $0.3134 after pricing its public offering of 5.175 million units. Each unit consists of one share of common stock (or a pre-funded warrant) and two common warrants.
Similarly, shares of Intuitive Machines, Inc. LUNR declined by 38% to $5.97 after reports indicated that its lunar lander may have tipped over during landing on the moon.
Venus Concept Inc. VERO slipped by 25% to $0.98 following the company’s announcement of a $1.2 million registered direct offering at $1.465 per share.
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Commodities Update
In the commodities realm, oil showed an uptick of 1.8% to $77.84, whereas gold experienced a decrease of 0.6% at $2,037.70.
Moreover, silver declined by 2.1% to $22.505 today, while copper fell by 1.5% to $3.8430.
Euro Zone Market Recap
The European shares ended the day with a mixed tone. The STOXX 600 in the eurozone reflected a decline of 0.37%, London’s FTSE 100 dipped by 0.29%, while Spain’s IBEX 35 Index saw an uptick of 0.08%. Moreover, Germany’s DAX gained 0.02%, the French CAC 40 dropped by 0.46%, and Italy’s FTSE MIB Index fell by 0.44%.
In Spain, producer prices noted a year-over-year decline of 3.8% in January, following a 6.3% decrease in the previous month.
Asia Pacific Market Report
At the close of the trading day, most Asian markets saw a downward trend. Japan’s Nikkei 225 advanced by 0.35%, Hong Kong’s Hang Seng Index slumped by 0.54%, China’s Shanghai Composite Index witnessed a decline of 0.93%, and India’s S&P BSE Sensex fell by 0.4%.
Moreover, Singapore’s manufacturing production in January saw a year-over-year increase of 1.1% following a revised 2.4% decline in December.
Economic Insights
Building permits in the U.S. experienced a slight decline of 0.3%, reaching an annual rate of 1.489 million in January.
Furthermore, the Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas saw an improvement to -11.3 in February from the previous month’s level of -27.4.
In addition, sales of new single-family houses in the U.S. rose by 1.5% from the previous month to an annualized rate of 661,000 in January.
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