U.S. stocks turned lower toward the end of trading, with the Dow Jones dropping around 80 points on Monday.
The Dow traded down 0.26% to 31,207.66 while the NASDAQ fell 0.34% to 11,412.95. The S&P also fell, dropping, 0.36% to 3,849.18.
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Leading and Lagging Sectors
Energy shares rose 2.4% on Monday. Meanwhile, top gainers in the sector included North European Oil Royalty Trust (NYSE:NRT), up 21% and SEACOR Marine Holdings Inc. (NYSE:SMHI) up 12%.
In trading on Monday, health care shares fell by 1.5%.
Top Headline
Bank of America Corp (NYSE:BAC) reported second-quarter FY22 revenue of $22.7 billion, up 6% year-on-year, marginally missing the consensus of $22.78 billion. EPS of $0.73 missed the consensus of $0.78.
Equities Trading UP
Tantech Holdings Ltd (NASDAQ:TANH) shares shot up 37% to $0.3550 after the company posted a narrower FY loss.
Shares of Qudian Inc. (NYSE:QD) got a boost, shooting 45% to $1.72 after the company highlighted progress in its QD Food brand and said its 717 Foodies Festival fueled sales of approximately 9.56 million dishes.
Advent Technologies Holdings, Inc. (NASDAQ:ADN) shares were also up, gaining 20% to $3.1608 after the company's Green HiPo project received official ratification from the European Commission.
Equities Trading DOWN
United Maritime Corporation (NASDAQ:USEA) shares tumbled 57% to $0.8750 after the company reported pricing of $26 million offering.
Shares of Mawson Infrastructure Group, Inc. (NASDAQ:MIGI) were down 13% to $0.8750 after the company announced a $6.4 million registered direct offering.
Sesen Bio, Inc. (NASDAQ:SESN) was down, falling 2309% to $0.6261. Based on a thorough reassessment, Sesen Bio has decided to voluntarily pause further development in the U.S. of its lead asset, Vicineum, for non-muscle invasive bladder cancer.
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Commodities
In commodity news, oil traded up 5.1% to $102.60, while gold traded up 0.3% to $1,708.90.
Silver traded up 0.7% to $18.72 on Monday while copper rose 2.6% to $3.3195.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 climbed 0.93%, London’s FTSE 100 rose 0.90% while Spain’s IBEX 35 Index rose 0.22%. The German DAX gained 0.74%, French CAC 40 rose 0.93% and Italy’s FTSE MIB Index gained 1.13%.
Spain recorded a trade deficit of EUR 4.76 billion in May versus a year-ago surplus of EUR 0.14 billion. Italy reported a trade deficit of EUR 12 million in May compared to a surplus of EUR 5.6 billion in the year-ago month.
Economics
The NAHB housing market index fell to 55 in July, recording the weakest reading since May 2020, down from June’s reading of 67. Analysts, however, were expecting a reading of 65.
The Treasury International Capital report for May is scheduled for release at 4:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 91,275,140 cases with around 1,048,238400 deaths. India confirmed a total of at least 43,767,530 cases and 525,760 deaths, while Brazil reported over 33,301,110 COVID-19 cases with 675,400 deaths. In total, there were at least 567,876,200 cases of COVID-19 worldwide with more than 6,387,860 deaths.
