U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 0.2% on Monday.
The Dow traded down 0.25% to 38,988.86 while the NASDAQ fell 0.18% to 16,245.30. The S&P 500 also fell, dropping, 0.06% to 5,134.05.
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Leading and Lagging Sectors
Utilities shares rose by 0.7% on Monday.
In trading on Monday, communication services shares fell by 1.6%.
Top Headline
Arkhouse Management Co. LP and Brigade Capital Management, LP have proposed a revised takeover bid for Macy's Inc (NYSE:M) for $24.00 per share in cash.
The new proposal is being seen as an attempt to persuade the department store chain to reconsider their previous offer.
Equities Trading UP
BitFuFu Inc. (NASDAQ:FUFU) shares shot up 157% to $16.38 amid volatility following the company's recent business combination with Arisz Acquisition Corp and listing on the Nasdaq.
Shares of Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) got a boost, surging 27% to $3.58 after the company announced FDA clearance to recruit teen subjects into both of its ongoing Netherton Syndrome clinical studies.
Renalytix Plc (NASDAQ:RNLX) shares were also up, gaining 29% to $1.34 after the company announced that it received an unsolicited approach from a publicly listed strategic diagnostics company.
Equities Trading DOWN
BioVie Inc. (NASDAQ:BIVI) shares dropped 43% to $1.0750 after the company reported pricing of public offering.
Shares of BioCardia, Inc. (NASDAQ:BCDA) were down 23% to $0.4460 after reporting interim results from Phase III CardiAMP cell therapy heart failure trial.
JOANN Inc. (NASDAQ:JOAN) was down, falling 48% to $0.2656 following a Bloomberg report stating the company is contemplating a bankruptcy filing to restructure its debt and regain financial stability.
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Commodities
In commodity news, oil traded down 0.9% to $79.27 while gold traded up 1% at $2,115.80.
Silver traded rose 2% to $23.84 on Monday while copper rose 0.2% to $3.87.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.17%, London's FTSE 100 fell 0.65% while Spain's IBEX 35 Index fell 0.08% The German DAX declined 0.18% French CAC 40 rose 0.09% while Italy's FTSE MIB Index slipped 0.16%.
The number of people registering as jobless in Spain declined by 0.3% to 2.76 million in February.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 0.50%, Hong Kong's Hang Seng Index climbing 0.04%, China's Shanghai Composite Index gaining 0.41% and India's S&P BSE Sensex gaining 0.2%.
Singapore's manufacturing PMI slipped to 50.6 in February from 50.7 in the prior month.
Economics
No economic report of significance is due for Monday.
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