Nasdaq Dips 3%; Chicago Fed National Activity Index Rises In December

U.S. stocks traded lower this morning, with the Nasdaq Composite falling over 600 points on Monday.

Following the market opening Monday, the Dow traded down 0.33% to 44,276.05 while the NASDAQ fell 3.08% to 19,340.76. The S&P 500 also fell, dropping, 1.74% to 5,994.91.

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Leading and Lagging Sectors

Consumer staples shares surged by 1.4% on Monday.

In trading on Monday, information technology shares fell by 4.5%.

Top Headline

The Chicago Fed National Activity Index rose to 0.15 in December, recording the strongest reading in seven months, and versus a revised -0.01 in the previous month.

Equities Trading UP
                       

• Aurora Mobile Limited JG shares shot up 207% to $17.98 after the company revealed its GPTBots.ai platform has integrated the DeepSeek R1 large language model.
• Shares of Akero Therapeutics, Inc. AKROgot a boost, surging 111% to $55.12 after the company reported preliminary Week 96 results from its SYMMETRY Phase 2B study of Efruxifermin.
• 89bio, Inc. ETNB shares were also up, gaining 48% to $10.59.

Equities Trading DOWN

• Allakos Inc. ALLK shares dropped 76% to $0.2901 after the company announced it will discontinue further development of AK006, reduce its workforce by 75%, and explore strategic alternatives.
• Shares of Veru Inc. VERU were down 43% to $0.6876 after the company reported results from Phase 2b trial of Enobosarm for muscle preservation in weight loss patients.
• PMGC Holdings Inc. ELAB was down, falling 42% to $1.82. PMGC Holdings announced $1.9 million in gross proceeds from warrant inducement with institutional investors.

Commodities

In commodity news, oil traded down 0.3% to $74.45 while gold traded down 0.7% at $2,760.60.

Silver traded down 1.2% to $30.825 on Monday, while copper fell 0.9% to $4.2815.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, Germany’s DAX 40 fell 0.7% and France’s CAC 40 fell 0.5%. Spain’s IBEX 35 Index rose 0.2%, while London’s FTSE 100 fell 0.1%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.92%, China’s Shanghai Composite Index falling 0.06%, Hong Kong’s Hang Seng Index gaining 0.66% and India’s BSE Sensex dipping 1.08%.

Economics

• The Chicago Fed National Activity Index rose to 0.15 in December, recording the strongest reading in seven months, and versus a revised -0.01 in the previous month.
• U.S. building permits in rose by 0.7% to an annualized rate of 1.482 million in December.

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