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Nasdaq Dips 1%; US Durable Goods Orders Increase In July

Benzinga ·  Aug 27 00:16

U.S. stocks traded mostly lower midway through trading, with the Nasdaq Composite falling around 1% on Monday.

The Dow traded up 0.03% to 41,186.42 while the NASDAQ fell 1% to 17,700.06. The S&P 500 also fell, dropping, 0.42% to 5,610.99.

Leading and Lagging Sectors
Energy shares climbed by 1.5% on Monday.

In trading on Monday, information technology shares fell by 0.4%.

Top Headline

U.S. new orders for manufactured durable goods gained by 9.9% from the prior month in July, compared to a revised 6.9% plunge in the prior period.

Equities Trading UP

  • Medirom Healthcare Technologies Inc (NASDAQ:MRM) shares shot up 187% to $7.12 after the company announced that its subsidiary MEDIROM MOTHER Labs formed a capital and business alliance with NFES Technologies.
  • Shares of Prestige Wealth Inc (NASDAQ:PWM) got a boost, surging 85% to $1.3850 after the company announced that it entered into a definitive acquisition agreement to purchase all shares of SPW Global.
  • MoneyLion Inc. (NYSE:ML) shares were also up, gaining 11% to $47.94 after announcing a $20 million share repurchase program.

Equities Trading DOWN

  • Alarum Technologies Ltd. (NASDAQ:ALAR) shares dropped 30% to $15.13 after the company reported mixed second-quarter financial results.
  • Shares of PDD Holdings Inc. (NASDAQ:PDD) were down 27% to $102.00 after the company announced downbeat quarterly sales.
  • Napco Security Technologies, Inc. (NASDAQ:NSSC) was down, falling 15% to $47.53 following fourth-quarter results.

Commodities
In commodity news, oil traded up 3.6% to $77.54 while gold traded up 0.1% at $2,547.00.

Silver traded down 0.1% to $29.815 on Monday, while copper rose 0.2% to $4.2095.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.11%, Germany's DAX rose 0.01% and France's CAC 40 gained 0.33%. Spain's IBEX 35 Index fell 0.06%, while London's FTSE 100 rose 0.48%.

The Ifo Business Climate indicator for Germany fell to 86.6 in August, recording the weakest level since February. Producer prices in Spain declined by 1.4% year-over-year in July versus a revised 3.2% decline in the earlier month.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 falling 0.66%, Hong Kong's Hang Seng Index gaining 1.06%, China's Shanghai Composite Index rising 0.04% and India's BSE Sensex rising 0.75%.

Economics

U.S. new orders for manufactured durable goods gained by 9.9% from the prior month in July, compared to a revised 6.9% plunge in the prior period.

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