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News

Dow Edges Lower; Cardlytics Shares Jump

Author: Avi Kapoor | January 29, 2024 01:16pm

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.

Check This Out: American Airlines To Rally Around 32%? Here Are 10 Top Analyst Forecasts For Monday

 

Leading and Lagging 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.

 

Equities Trading UP

 

Palisade Bio, Inc. (NASDAQ: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. (NASDAQ:SOFI) got a boost, surging 23% to $9.41 after the company reported better-than-expected quarterly revenue.

Cardlytics, Inc. (NASDAQ: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.

 

Equities Trading DOWN

 

Panbela Therapeutics, Inc. (NASDAQ: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. (NASDAQ: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 (NYSE:BE) was down, falling 7% to $11.57 after B of A Securities downgraded the stock from Neutral to Underperform.

Also Check This Out: Top 3 Consumer Stocks That May Crash In January

 

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.

Now Read This: Meta Platforms, Caterpillar And 2 Other Stocks Insiders Are Selling

Posted In: BE BFRG CDLX PALI PBLA SOFI

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