Dow Jones Fall and ISM Manufacturing PMI Rise Dow Jones Fall and ISM Manufacturing PMI Rise In March

Written By Michael Gary Scott

U.S. markets showed a mixed bag today, witnessing a spirited tussle as the mighty Dow Jones tumbled over 200 points on Monday.

The Dow danced down 0.57% to 39,580.90, while the NASDAQ pirouetted up 0.30% to 16,427.97. Despite bearish sentiments, the S&P 500 elegantly dropped 0.07% to 5,250.56.

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Market Performance in Different Sectors

 

Communication services shares soared by 1.4% on Monday, a glistening performance.

On the flip side, real estate shares stumbled, falling by 1.4% in today’s market ballet.

Positive News in Manufacturing Sector

 

The ISM Manufacturing Purchasing Managers’ Index (PMI) waltzed to 50.3 in March, a graceful rise from 47.8 in February, gracefully exceeding market expectations set at 48.4.

Equities on the Rise

 

MediaCo Holding Inc. MDIA shares escalated by 52% to $0.7960, a remarkable feat after a slight stumble last Thursday.

Shares of Meta Materials Inc. MMAT surged by 35% to $4.15. Meta Materials has a scheduled corporate update webcast on Wednesday, April 3, 2024, at 4:30 PM EDT.

Doma Holdings Inc. DOMA also journeyed upwards, gaining 34% to $6.09 following a merger agreement with TRG, propelling them to go private at $6.29 per share in cash.

Declining Equities

 

Eiger BioPharmaceuticals, Inc. EIGR saw a sharp drop of 41% to $2.93.

Shares of AEON Biopharma, Inc. AEON slumped by 41% to $6.86 after announcing a fourth-quarter loss of 71 cents per share.

Logistic Properties Of The Americas LPA experienced a rough ride downward, falling by 37% to $10.01.

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Commodities Update

 

In the realm of commodities, oil edged up by 0.2% to $83.35, while gold shimmered up by 0.7% to $2,253.10.

Silver ticked up by 0.1% to $24.94 on Monday, with copper gleaming by 1.2% to $4.0545.

Economic Insights

The ISM Manufacturing PMI stood tall at 50.3 in March, compared to 47.8 in February, surpassing market expectations set at 48.4.

U.S. construction spending slipped by 0.3% in February compared to the previous month.

The S&P Global manufacturing PMI was adjusted slightly lower to 51.9 in March, a touch below the initial reading of 52.5.

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