Gold Edges Higher; ISM Manufacturing PMI Falls In October

Benzinga
11/04

U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 150 points on Monday.

The Dow traded down 0.41% to 47,369.42 while the NASDAQ rose 0.54% to 23,853.68. The S&P 500 also rose, gaining, 0.22% to 6,855.42.

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Leading and Lagging SectorsConsumer discretionary shares jumped by 1.8% on Monday.

In trading on Monday, materials stocks fell by 0.6%.

Top Headline

The ISM manufacturing PMI declined to 48.7 in October from 49.1 in the previous month, down from market estimates of 49.5.

Equities Trading UP           

  • Cipher Mining Inc. (NASDAQ:CIFR) shares shot up 22% to $22.82 after the company announced a $5.5 billion, 15-year lease agreement with Amazon Web Services to provide 300 MW of turnkey space and power for AI workloads.
  • Shares of Resolute Holdings Management, Inc. (NASDAQ:RHLD) got a boost, surging 88% to $138.76 after the company reported quarterly financial results.
  • Tharimmune, Inc. (NASDAQ:THAR) shares were also up, gaining 14% to $3.35 after the company entered into $540 million private placement to fund Canton Network Blockchain strategy.

Equities Trading DOWN

  • uniQure N.V. (NASDAQ:QURE) shares dropped 50% to $33.64 after the company received feedback from the FDA during pre-BLA meeting regarding AMT-130, investigational gene therapy for HD.
  • Shares of Alvotech (NASDAQ:ALVO) were down 33% to $5.13. The U.S. Food and Drug Administration (FDA) on Monday issued a complete response letter (CRL) for Alvotech's Biologics License Application (BLA) for AVT05, in a prefilled syringe and autoinjector presentations, a biosimilar candidate to Johnson & Johnson's (NYSE:JNJ) Simponi (golimumab), for moderately to severely active rheumatoid arthritis.
  • ALPS Group Inc (NASDAQ:ALPS) was down, falling 50% to $1.29 as the company announced the pricing of public offering.

CommoditiesIn commodity news, oil traded down 0.1% to $60.93 while gold traded up 0.4% at $4,011.80.

Silver traded down 0.5% to $47.905 on Monday, while copper fell 0.9% to $5.0420.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.07%, while Spain's IBEX 35 Index rose 0.03%. London's FTSE 100 fell 0.16%, Germany's DAX 40 gained 0.73% and France's CAC 40 fell 0.14% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng gaining 0.97%, China's Shanghai Composite rising 0.55% and India's BSE Sensex gaining 0.05%.

Economics

  • The ISM manufacturing PMI declined to 48.7 in October from 49.1 in the previous month, down from market estimates of 49.5.
  • The S&P Global manufacturing PMI gained to 52.5 in October from 52.0 in September and compared to the preliminary reading of 52.2.

Now Read This:

  • This Boeing Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

Photo via Shutterstock

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