U.S. stocks saw a downward trend towards the end of trading, with the S&P 500 experiencing a 0.3% drop on Monday.
The Dow declined by 0.67% to 39,538.91, while the NASDAQ also fell by 0.06% to 16,369.44. The S&P 500 followed suit, dropping by 0.30% to 5,238.49.
Check This Out: Jim Cramer Likes Crown Castle, But Can’t Recommend Archer Aviation: It Has ‘No Earnings Power’
Shifting Sectors
On Monday, communication services shares surged by 1.3%.
Conversely, real estate shares experienced a 1.6% decline in trading.
Key Headlines
Torrid Holdings Inc. CURV revealed better-than-expected fourth-quarter financial results last Thursday.
Stocks on the Rise
CXApp Inc. CXAI witnessed a remarkable 145% increase, hitting $6.00, following the announcement of a partnership with Google Cloud for acceleration of the CXAI platform.
Shares of Sunshine Biopharma, Inc. SBFM soared by 72% to $0.1039 after the company unveiled its FY23 operating results.
Doma Holdings Inc. DOMA also experienced upward movement, gaining 34% to $6.07 following the announcement of a merger transaction with TRG to go private at $6.29 per share in cash.
Stocks on the Decline
Nuvve Holding Corp. NVVE witnessed a 28% drop to $0.7897 after reporting worse-than-expected fourth-quarter financial results.
Shares of AEON Biopharma, Inc. AEON plummeted by 41% to $6.83 following the report of a fourth-quarter loss of 71 cents per share.
Disc Medicine, Inc. IRON also experienced a decline, falling by 47% to $32.90 after announcing topline results from the Phase 2 AURORA study of bitopertin in patients with EPP.
Commodity Market
Within the commodities market, oil saw a 0.8% increase, reaching $83.80, while gold rose by 1% to hit $2,261.30.
Silver witnessed a 0.8% increase to $25.12 on Monday, with copper also rising by 1.1% to $4.0505.
Economic Activity
The ISM manufacturing PMI climbed to 50.3 in March compared to 47.8 in February, surpassing market estimates of 48.4.
U.S. construction spending saw a 0.3% reduction from the previous month in February.
The S&P Global manufacturing PMI was adjusted downward to 51.9 in March from a preliminary reading of 52.5.
Now Read This: $5M Bet On Snowflake? Check Out These 4 Stocks Insiders Are Buying
