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Nasdaq Surges Over 100 Points, US Durable Goods Orders Decline In November
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Nasdaq Surges Over 100 Points, US Durable Goods Orders Decline In November
Dec 23, 2024 10:24 AM

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite gaining more than 100 points on Monday.

The Dow traded down 0.10% to 42,796.25 while the NASDAQ gained 0.72% to 19,713.64. The S&P 500 also rose, gaining, 0.38% to 5,953.43.

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Leading and Lagging Sectors

Information technology shares rose by 0.3% on Monday.

In trading on Friday, consumer staples shares fell by 1.1%.

Top Headline

U.S. durable goods orders fell 1.1% month-over-month to $285.1 billion in November compared to a revised 0.8% gain in October and versus market estimates of a 0.4% decline.

Equities Trading UP

                       

Traws Pharma, Inc. ( TRAW ) shares shot up 256% to $17.89 after the company announced progress in the development of Tivoxavir Marboxi.

Shares of Reliance Global Group, Inc. ( RELI ) got a boost, surging 192% to $3.5040 after the company issued a year-end review of its operations, as well as a look to the future.

Rumble Inc. ( RUM ) shares were also up, gaining 70% to $12.16 after the company announced it has entered into a definitive agreement for a strategic investment of $775 million from Tether.

Equities Trading DOWN

iLearningEngines, Inc. ( AILE ) shares dropped 67% to $0.2945 after the company announced it voluntarily filed for Chapter 11 Bankruptcy.

Shares of MGO Global, Inc. ( MGOL )  were down 60% to $0.3769 after the company announced the pricing of upsized $6.0 million public offering.

Castellum, Inc. ( CTM ) was down, falling 31% to $0.4125 after the company announced the pricing of a $3.6 million registered direct offering of 9.47 million shares at $0.38 per share.

Commodities

In commodity news, oil traded down 0.8% to $68.94 while gold traded down 0.7% at $2,626.70.

Silver traded up 0.3% to $30.050 on Monday, while copper fell 0.3% to $4.0870.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.20%, Germany's DAX fell 0.13% and France's CAC 40 fell 0.08%. Spain's IBEX 35 Index fell 0.42%, while London's FTSE 100 rose 0.03%.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 1.19%, Hong Kong's Hang Seng Index gaining 0.82%, China's Shanghai Composite Index declining 0.50% and India's BSE Sensex gaining 0.64%.

Economics

The Chicago Fed National Activity Index rose to -0.12 in November compared to a revised reading of -0.5 in October.

U.S. durable goods orders fell 1.1% month-over-month to $285.1 billion in November compared to a revised 0.8% gain in October and versus market estimates of a 0.4% decline.

U.S. building permits gained by 5.2% to an annualized rate of 1.493 million in November compared to initial estimates of 1.505 million.

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