Crude Oil Falls Over 1%; EyePoint Pharmaceuticals Shares Spike Higher

Author: Lisa Levin | December 04, 2023 03:33pm

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling around 150 points on Monday.

The Dow traded down 0.17% to 36,182.82 while the NASDAQ fell 1.05% to 14,154.41. The S&P 500 also fell, dropping, 0.67% to 4,563.91.

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Leading and Lagging Sectors

 

Utilities shares rose by 0.2% on Monday.

In trading on Monday, information technology shares fell by 1.8%.

 

Top Headline

 

U.S. factory orders fell 3.6% month-over-month in October versus a revised 2.3% increase in September, and compared to market estimates of a 2.8% decline.

 

Equities Trading UP

 

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares shot up 189% to $19.08 after the company announced the Phase 2 DAVIO 2 trial of EYP-1901 in wet AMD achieved all primary and secondary endpoints.

Shares of Hawaiian Holdings, Inc. (NASDAQ:HA) got a boost, shooting 186% to $13.90 after Alaska Air Group, Inc. (NYSE:ALK) announced plans to acquire the company in a deal worth $1.9 billion.

SilverSun Technologies, Inc. (NASDAQ:SSNT) shares were also up, gaining 206% to $11.22 after the company announced Jacobs Private Equity II will invest $1 billion ($900 million from JPE, $100 million from co-investors) in SilverSun.

 

Equities Trading DOWN

 

U Power Limited (NASDAQ:UCAR) shares dropped 57% to $0.6569 after the company announced pricing of registered follow-on offering of 10 million units at a purchase price of $1.20 per unit.

Shares of Meta Materials Inc. (NASDAQ:MMAT) were down 31% to $0.0760. Meta Materials announced a $6.0 million registered direct offering.

Virgin Galactic Holdings, Inc. (NYSE:SPCE) was down, falling 15% to $2.00 following reports suggesting founder Richard Branson will not put any more money into the business.

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Commodities

 

In commodity news, oil traded down 1.4% to $73.06 while gold traded down 2.2% at $2,043.10.

Silver traded down 3.7% to $24.905 on Monday while copper fell 2.6% to $3.8305.

 

Euro zone

 

European shares closed mixed today. The eurozone’s STOXX 600 fell 0.09%, London’s FTSE 100 fell 0.22% while Spain’s IBEX 35 Index rose 0.37% The German DAX rose 0.04% French CAC 40 fell 0.18%, while Italy’s FTSE MIB Index fell 0.05%.

Germany’s trade surplus widened to EUR 17.8 billion in October versus a revised EUR 16.7 billion a month ago.

 

Asia Pacific Markets

 

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.60%, Hong Kong’s Hang Seng Index falling 1.09% and China’s Shanghai Composite Index falling 0.29%. India’s S&P BSE Sensex, meanwhile, climbed 2.05%.

Retail sales in Australia fell by 0.2% month-over-month in October, while business inventories unexpectedly climbed by 1.2% quarter-over-quarter during the third quarter. The Melbourne Institute's Monthly Inflation Gauge increased 0.3% for November.

 

Economics

 

U.S. factory orders fell 3.6% month-over-month in October versus a revised 2.3% increase in September, and compared to market estimates of a 2.8% decline.

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Posted In: ALK EYPT HA MMAT SPCE SSNT UCAR