Dow Jumps 800 Points; ISM Manufacturing PMI Falls In December

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 250 points on Monday.

The Dow traded up 1.66% to 49,183.51 while the NASDAQ gained 0.80% to 23,420.85. The S&P 500 also rose, gaining, 0.81% to 6,913.76.

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Leading and Lagging Sectors

Energy shares gained by 2.9% on Monday.

In trading on Monday, utilities stocks dipped by 2.2%.

Top Headline

The ISM manufacturing PMI declined for a third straight month to 47.9 in December, recording the lowest reading since October 2024, versus a reading of 48.2 in November and market estimates of 48.3.

Equities Trading UP
           

• Momentus Inc (NASDAQ:MNTS) shares shot up 57% to $8.98 after the company announced the development of an additive-manufactured fuel tank that is scheduled to perform flight testing aboard its Vigoride-7 orbital service vehicle.
• Shares of GH Research PLC (NASDAQ:GHRS) got a boost, surging 17% to $15.43. The U.S. Food and Drug Administration (FDA) on Monday lifted the clinical hold on GH Research’s Investigational New Drug Application (IND) for GH001.
• VerifyMe Inc (NASDAQ:VRME) shares were also up, gaining 66% to $1.12. VerifyMe and Open World entered into a letter of intent for strategic merger.

Equities Trading DOWN

• Zenas Biopharma Inc (NASDAQ:ZBIO) shares dropped 57% to $14.94 after the company announced results from Phase 3 INDIGO trial of obexelimab in immunoglobulin G4-related disease.
• Shares of Palisade Bio Inc (NASDAQ:PALI) were down 16% to $2.10.
• Palvella Therapeutics Inc (NASDAQ:PVLA) was down, falling 14% to $86.16.

Commodities

In commodity news, oil traded up 1.7% to $58.30 while gold traded up 2.9% at $4,454.40.

Silver traded up 7.3% to $76.230 on Monday, while copper rose 5.1% to $5.9815.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.94%, while Spain’s IBEX 35 Index rose 0.70%. London’s FTSE 100 rose 0.54%, Germany’s DAX gained 1.34% and France’s CAC 40 climbed 0.20% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 2.97%, Hong Kong’s Hang Seng Index gaining 0.03%, China’s Shanghai Composite surging 1.38% and India’s BSE Sensex falling 0.38%.

Economics

The ISM manufacturing PMI declined for a third straight month to 47.9 in December, recording the lowest reading since October 2024, versus a reading of 48.2 in November and market estimates of 48.3.

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