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Gold Down Over 1%; Salarius Pharmaceuticals Shares Surge

Benzinga ·  Jan 13 19:12

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 150 points on Monday.

The Dow traded up 0.64% to 42,206.46 while the NASDAQ dipped 0.79% to 19,010.47. The S&P 500 also fell, dropping, 0.11% to 5,820.34.

Leading and Lagging Sectors
Energy shares rose by 1.6% on Monday.

In trading on Monday, utilities shares tumbled by 1.8%.

Top Headline

U.S. consumer inflation expectations for the year ahead came in unchanged at 3% in December, the same as in the previous month.

Equities Trading UP

  • Phio Pharmaceuticals Corp. (NASDAQ:PHIO) shares shot up 426% to $6.43 after the company reported promising results of second cohort from its ongoing clinical study of PH-762.
  • Shares of Salarius Pharmaceuticals, Inc. (NASDAQ:SLRX)got a boost, surging 159% to $4.04. Salarius Pharmaceuticals and Decoy Therapeutics announced a definitive merger agreement.
  • Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) shares were also up, gaining 34% to $127.42 after Johnson & Johnson agreed to acquire the company for $132.00 per share in cash for a total equity value of approximately $14.6 billion.

Equities Trading DOWN

  • Moderna, Inc. (NASDAQ:MRNA) shares dropped 20% to $33.67 after the company updated its 2025 expected revenue range to $1.5 billion to $2.5 billion, below analyst estimates of $2.951 billion.
  • Shares of Abercrombie & Fitch Co. (NYSE:ANF) were down 18% to $132.09 after issuing mixed fourth-quarter and FY24 guidance.
  • Comtech Telecommunications Corp. (NASDAQ:CMTL) was down, falling 48% to $2.15 after the company announced downbeat quarterly results.

Commodities
In commodity news, oil traded up 2.7% to $78.66 while gold traded down 1.4% at $2,677.60.

Silver traded down 3.1% to $30.345 on Monday, while copper rose 0.4% to $4.3195.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 declined 0.55%, Germany's DAX 40 fell 0.41% and France's CAC 40 dipped 0.30%. Spain's IBEX 35 Index fell 0.28%, while London's FTSE 100 slipped 0.29%.

Asia Pacific Markets

Asian markets closed lower on Monday, with China's Shanghai Composite Index falling 0.25%, Hong Kong's Hang Seng Index declining 1% and India's BSE Sensex falling 1.36%.

Economics

U.S. consumer inflation expectations for the year ahead came in unchanged at 3% in December, the same as in the previous month.

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