Crude oil gains over 2%; Dallas Fed index surges in August
The Dallas Fed's general business activity index for Texas manufacturing rose to 11.6 in August from 1.3 in July, its strongest reading since January 2025.
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Monday.
The Dow traded down 0.64% to 53,219.55 while the NASDAQ dipped 0.40% to 26,296.20.
The S&P 500 also fell, dropping, 0.51% to 7,672.80.
Leading and Lagging Sectors Energy shares jumped by 1.8% on Monday.
In trading on Monday, communication services stocks fell by 1.9%.
Top Headline The Dallas Fed's general business activity index for Texas manufacturing surged to 11.6 in August, recording the strongest reading since Jan.
2025, and compared to 1.3 in July.
Equities Trading UP Collplant Biotechnologies Ltd — ADR ( NASDAQ: CLGN ) shares shot up 123% to $0.80 as the company announced a deal to acquire a photonic computing firm LightSolver Ltd.
Shares of Ascendis Pharma A/S (NASDAQ: ASND ) got a boost, surging 6% to $262.76.
On Sunday, BioMarin Pharmaceutical Inc. (NASDAQ: BMRN ) reached a binding settlement with Ascendis Pharma to resolve all global patent disputes regarding the medication Yuviwel.
Titan Machinery Inc ( NASDAQ: TITN ) shares were also up, gaining 13% to $20.16.
Titan Machinery recently reported mixed second-quarter financial results.
Equities Trading DOWN FingerMotion Inc ( NASDAQ: FNGR ) shares dropped 39% to $0.24, giving back some of Friday's gains after the company unveiled plans to expand into AI-focused data centers.
Shares of Edison International ( NYSE: EIX ) were down 23% to $53.90 after Mizuho downgraded the stock from Outperform to Neutral and lowered its price target from $86 to $70.
PG&E Corp (NYSE: PCG ) was down, falling 20% to $13.27 after several analysts, including, BMO Capital, Mizuho and Wells Fargo downgraded ratings on the stock.
Commodities In commodity news, oil traded up 2.5% to $85.50 while gold traded down 1.3% at $4,473.10.
Silver traded down 1.4% to $66.870 on Monday, while copper rose 0.6% to $6.7015.
Euro zone European shares were mostly lower today.
The eurozone's STOXX 600 slipped 0.3%, while Spain's IBEX 35 Index rose 0.1%, London's FTSE 100 rose 0.3%, Germany's DAX dipped 0.9%, while France's CAC 40 fell 0.2%.
Asia Pacific Markets Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 0.14%, Hong Kong's Hang Seng index declining 0.07%, China's Shanghai Composite gaining 0.86% and India's BSE Sensex falling 0.40%.
Economics The Dallas Fed's general business activity index for Texas manufacturing surged to 11.6 in August, recording the strongest reading since Jan.
2025, and compared to 1.3 in July.
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