Following the market opening Monday, the Dow traded up 0.08% to 35,846.72 while the NASDAQ rose 0.18% to 15,527.04. The S&P also fell, dropping 0.07% to 4,602.32.
Leading and Lagging Sectors
Energy shares gained by 1.4% on Monday. Meanwhile, top gainers in the sector included $PBF Energy(PBF.US)$, up 9% and $US Silica(SLCA.US)$ up 10%.
In trading on Monday, real estate shares fell 0.5%.
Top Headline
$PG&E Corp(PCG.US)$ reported weaker-than-expected results for its third quarter and issued downbeat sales guidance for the fourth quarter on Thursday.
PG&E posted Q3 adjusted earnings of $0.24 per share, missing analysts' estimates of $0.26 per share. The company's quarterly sales came in at $5.46 billion, versus expectations of $5.37 billion.
PG&E reaffirmed FY21 adjusted EPS guidance of $0.95-$1.05.
Equities Trading UP
$ABVC BioPharma(ABVC.US)$ shares shot up 242% to $8.70 on abnormally-high volume. The stock is seeing increased interest by traders on social media. Also, the company filed a mixed shelf offering on Friday after the close.
Shares of $Better Therapeutics(BTTX.US)$ got a boost, shooting 72% to $15.96. The company completed merger with Mountain Crest Acquisition Corp II on Friday.
$ANI Pharmaceuticals(ANIP.US)$ shares were also up, gaining 41% to $52.85 after reporting better-than-expected Q3 results. ANI Pharmaceuticals also announced the FDA approval of purified cortrophin gel for multiple indications including multiple sclerosis, rheumatoid arthritis and nephrotic syndrome.
Equities Trading DOWN
$Bit Digital(BTBT.US)$ shares tumbled 21% to $11.25 after jumping around 42% on Friday.
Shares of $Centessa Pharmaceuticals(CNTA.US)$ were down 19% to $13.91. Centessa Pharmaceuticals demonstrated proof-of-mechanism from first three PiMZ subjects dosed in Part B of Phase 1 study evaluating ZF874.
$A10 Networks(ATEN.US)$ was down, falling 18% to $15.27. A10 Networks shares jumped 35% on Friday after the company reported better-than-expected Q3 results.
Commodities
In commodity news, oil traded up 0.6% to $84.07, while gold traded up 0.2% to $1,787.20.
Silver traded down 0.2% Monday to $23.91 while copper fell 0.2% to $4.3590.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.6%, the Spanish Ibex Index rose 1.4% and the German DAX 30 climbed 0.9%. Meanwhile, the London’s FTSE 100 rose 0.6%, French CAC 40 surged 1.1% and Italy’s FTSE MIB jumped 1.4%.
The IHS Markit/CIPS UK manufacturing PMI rose to 57.8 in October from September's seven-month low level of 57.1, while Germany's retail trade fell 2.5% in September.
Economics
The IHS Markit manufacturing PMI was revised lower to 58.4 in October from a preliminary reading of 59.2.
The ISM manufacturing PMI fell to 60.8 in October from 61.1 in the prior month.
Construction spending fell 0.5% to an annual rate of $1.574 trillion in September.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.