Market Mixed as Dow Dips and Cardlytics Shares Soar

Written By Michael Gary Scott


U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining around 20 points on Monday.

The Dow traded down 0.04% to 38,093.41 while the NASDAQ rose 0.15% to 4,891.83. The S&P 500 also rose, gaining, 0.02% to 4,891.83.

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Market Sectors

Consumer discretionary shares rose by 0.3% on Monday.

In trading on Monday, energy shares fell by 0.7%.

Top Headline

The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas fell 17 points to a reading of -27.4 in January.

Rising Equities

Palisade Bio, Inc. PALI shares shot up 102% to $1.06 after the company requested the withdrawal of a recently filed registration statement. Also, the company announced preclinical data of its lead program PALI-2108 at the 2024 Crohn’s & Colitis Congress.

Shares of SoFi Technologies, Inc. SOFI got a boost, surging 23% to $9.41 after the company reported better-than-expected quarterly revenue.

Cardlytics, Inc. CDLX shares were also up, gaining 31% to $7.58 after the company announced it entered into a settlement agreement with SRS and updated preliminary fourth-quarter 2023 results.

Falling Equities

Panbela Therapeutics, Inc. PBLA shares dropped 66% to $1.4499 after the company announced pricing of a roughly $9 million public offering.

Shares of Bullfrog AI Holdings, Inc. BFRG were down 21% to $5.58. Bullfrog AI filed shelf offering of 786,938 shares and accompanying warrants at $6.63 per share and accompanying warrant.

Bloom Energy Corporation BE was down, falling 7% to $11.57 after B of A Securities downgraded the stock from Neutral to Underperform.

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Commodities

In commodity news, oil traded down 1.3% to $77.03 while gold traded up 0.3% at $2,022.80.

Silver traded up 0.7% to $23.03 on Monday while copper rose 0.4% to $3.8655.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 rose 0.07%, London’s FTSE 100 rose 0.02% while Spain’s IBEX 35 Index fell 0.66% The German DAX fell 0.29% French CAC 40 slipped 0.02% while Italy’s FTSE MIB Index fell 0.83%.

The Credit Union Consumer Sentiment Index in Ireland climbed to 74.2 in January versus a reading of 62.4 in December.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.77%, Hong Kong’s Hang Seng Index gaining 0.78% and China’s Shanghai Composite Index falling 0.92%. India’s S&P BSE Sensex, meanwhile, jumped 1.74%.

Profits earned by Chinese industrial firms declined 2.3% year-over-year to CNY 7,685.83 billion last year. The Domestic Supply Price Index in Singapore declined 1.1% year-over-year in December, while Malaysia’s producer prices fell 1.3% year-over-year in December.

Economics

The Federal Reserve Bank of Dallas’s general business activity index for manufacturing in Texas fell 17 points to a reading of -27.4 in January.

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