Dow Falls Over 100 Points; Chicago Fed National Activity Index Increases In September

Author: Lisa Levin | October 23, 2023 09:43am

U.S. stocks traded lower this morning, with the Dow Jones index falling over 100 points on Monday.

Following the market opening Monday, The Dow traded down 0.41% to 32,991.58 while the NASDAQ fell 0.33% to 12,940.56. The S&P 500 also fell, dropping, 0.33% to 4,210.14.

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Leading and Lagging Sectors

 

Health care shares fell by just 0.1% on Monday.

In trading on Monday, energy shares dipped by 1.2%.

 

Top Headline

 

The Chicago Fed National Activity Index climbed to +0.02 in September versus a revised reading of -0.22 in the prior month.

 

Equities Trading UP

 

LumiraDx Limited (NASDAQ:LMDX) shares shot up 297% to $0.3451 after the company reported a strategic collaboration with AstraZeneca and Everton in the Community to set up England’s first community-based heart and lung screening hub.

Shares of INVO Bioscience, Inc. (NASDAQ:INVO) got a boost, shooting 209% to $1.67 as the company agreed to acquire NAYA Biosciences in an all-stock transaction.

Akumin Inc. (NASDAQ:AKU) shares were also up, gaining 90% to $0.2752 after the company reached an agreement with Stonepeak to become a private company.

 

Equities Trading DOWN

 

Li-Cycle Holdings Corp. (NYSE:LICY) shares dropped 41% to $1.3499 after the company announced plans to halt construction work on its Rochester Hub project, pending completion of a comprehensive review of the go-forward strategy for the project..

Shares of Revolution Medicines, Inc. (NASDAQ:RVMD) were down 38% to $17.31 after the company announced it presented clinical activity and safety data from its Phase 1/1b trial of RMC-6236.

XORTX Therapeutics Inc. (NASDAQ:XRTX) was down, falling 36% to $0.4081 after jumping more than 100% on Friday.

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Commodities

 

In commodity news, oil traded down 0.8% to $87.39 while gold traded down 0.2% at $1,990.30.

Silver traded down 0.9% to $23.29 on Monday while copper rose 0.3% to $3.5740.

 

Euro zone

 

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.5%, London’s FTSE 100 fell 0.4% while Spain’s IBEX 35 Index fell 0.8% The German DAX fell 0.6% French CAC 40 rose 0.1%, while Italy’s FTSE MIB Index declined 0.1%.

 

Asia Pacific Markets

 

Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.83% and China’s Shanghai Composite Index falling 1.47%. India’s S&P BSE Sensex, meanwhile, fell 0.8%.

Food prices in Singapore rose by 4.3% year-over-year in September following a 4.8% increase in August. Singapore's annual inflation rate rose to 4.1% in September from August's level of 4.0%.

 

Economics

 

The Chicago Fed National Activity Index climbed to +0.02 in September versus a revised reading of -0.22 in the prior month.

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Posted In: AKU INVO LICY LMDX RVMD XRTX