Crude Oil Surges 3%; Abercrombie & Fitch Shares Plunge

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 50 points on Monday.

The Dow traded up 0.13% to 41,992.95 while the NASDAQ dipped 1.42% to 18,888.78. The S&P 500 also fell, dropping, 0.70% to 5,786.44.

Check This Out: How To Earn $500 A Month From Fastenal Stock Ahead Of Q4 Earnings

Leading and Lagging Sectors

Energy shares rose by 2.2% on Monday.

In trading on Monday, utilities shares tumbled by 1.9%.

Top Headline

Sage Therapeutics, Inc. (NASDAQ:SAGE) confirmed that Biogen Inc. (NASDAQ:BIIB) submitted an unsolicited, nonbinding proposal to acquire all of the outstanding shares of Sage Therapeutics not already owned by Biogen for $7.22 per share.

Equities Trading UP
                       

• Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares shot up 418% to $8.76 after the company reported promising results of second cohort from its ongoing clinical study of PH-762.
• Shares of Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX)got a boost, surging 277% to $5.87. Salarius Pharmaceuticals and Decoy Therapeutics announced a definitive merger agreement.
• Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares were also up, gaining 35% to $127.72 after Johnson & Johnson agreed to acquire the company for $132.00 per share in cash for a total equity value of approximately $14.6 billion.

• Equities Trading DOWN
• Moderna, Inc. (NASDAQ:MRNA) shares dropped 22% to $33.13 after the company updated its 2025 expected revenue range to $1.5 billion to $2.5 billion, below analyst estimates of $2.951 billion.
• Shares of Abercrombie & Fitch Co. (NYSE:ANF) were down 20% to $129.03 after issuing mixed fourth-quarter and FY24 guidance.
• Comtech Telecommunications Corp. (NASDAQ:CMTL) was down, falling 47% to $2.1901 after the company announced downbeat quarterly results.

Commodities

In commodity news, oil traded up 3.1% to $78.93 while gold traded down 1.1% at $2,685.60.

Silver traded down 3% to $30.37 on Monday, while copper rose 0.8% to $4.3365.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 0.45%, Germany's DAX 40 fell 0.26% and France's CAC 40 dipped 0.11%. Spain's IBEX 35 Index fell 0.23%, while London's FTSE 100 slipped 0.19%.

Asia Pacific Markets

Asian markets closed lower on Monday, with China's Shanghai Composite Index falling 0.25%, Hong Kong's Hang Seng Index declining 1% and India's BSE Sensex falling 1.36%.

Economics

Data on consumer inflation expectations will be released today.

Now Read This:

• Tesla To Rally Around 9%? Here Are 10 Top Analyst Forecasts For Monday