Nasdaq Dips Over 3%; Checkpoint Therapeutics Shares Jump

U.S. stocks traded lower this morning, with the Dow Jones index falling around 1% on Monday.

Following the market opening Monday, the Dow traded down 1.01% to 42,370.97 while the NASDAQ dipped 3.21% to 17,612.44. The S&P 500 also fell, dropping, 1.97% to 5,656.29.

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Leading and Lagging Sectors

Energy shares rose by 1.3% on Monday.

In trading on Monday, information technology shares dipped by 3.6%.

Top Headline

President Donald Trump, on Sunday, did not rule out the possibility of a recession this year. Acknowledging the potential of short-term turbulence from his economic agenda, he expressed confidence in future prosperity. In a Fox News interview, he said, “I hate to predict things like that” and called the changes being brought about by his administration as “very big.”

Equities Trading UP
                       

• Sharps Technology, Inc. STSS shares shot up 102% to $0.5989.
• Shares of Redfin Corporation RDFNgot a boost, surging 69% to $9.85 after Rocket Companies announced it will acquire the company in an all-stock transaction valued at $12.50 per share.
• Checkpoint Therapeutics, Inc. CKPT shares were also up, gaining 64% to $4.0550 after Sun Pharma announced it will acquire the company in a $365 million deal.

Equities Trading DOWN

• NET Power Inc. NPWR shares dropped 58% to $2.89 after the company reported fourth-quarter GAAP loss of 46 cents per share versus a year-ago profit of 34 cents per share.
• Shares of China SXT Pharmaceuticals, Inc. SXTC were down 36% to $2.9050.
• Able View Global Inc. ABLV was down, falling 28% to $1.2494.

Commodities

In commodity news, oil traded up 0.7% to $67.50 while gold traded down 0.1% at $2,910.40.

Silver traded up 0.5% to $32.970 on Monday, while copper fell 0.3% to $4.6975.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.9%, Germany’s DAX 40 fell 1.3% and France’s CAC 40 fell 0.5%. Spain’s IBEX 35 Index fell 1%, while London’s FTSE 100 fell 0.7%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan’s Nikkei gaining 0.38%, China’s Shanghai Composite Index falling 0.19% and Hong Kong’s Hang Seng Index falling 1.85%, India’s BSE Sensex falling 0.29%.

Economics

Data on consumer inflation expectations will be released today.

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