Following the market opening Monday, the Dow traded down 0.01 percent to 23,418.96 while the NASDAQ declined 0.12 percent to 6,742.68. The S&P also fell, dropping 0.06 percent to 2,580.75.
Leading and Lagging Sectors;
Monday morning, the non-cyclical consumer goods & services sector proved to be a source of strength for the market.
In trading on Monday, energy shares were relative laggards, down on the day by about 0.49 percent. Meanwhile, top losers in the sector included Isramco, Inc. ISRL 1.92%, down 5 percent, and SemGroup Corp SEMG 3.39% down 4 percent.
Tyson Foods, Inc. TSN 1.28% reported better-than-expected results for its fourth quarter.
Tyson Foods posted quarterly adjusted earnings of $1.43 per share on revenue of $10.15 billion. However, analysts were expecting earnings of $1.38 per share on revenue of $9.89 billion.
Equities Trading UP;
Zymeworks Inc ZYME 28.53% shares shot up 25 percent to $8.62 after the company disclosed a license agreement with J&J Innovation to develop and commercialize next generation bispecific antibody therapeutics.
Shares of Nektar Therapeutics NKTR 20.46% got a boost, shooting up 21 percent to $39.33. Nektar Therapeutics and Bristol-Myers Squibb reported the first presentation of data from PIVOT-02 Phase 1/2 study showing potential benefits.
Equities Trading DOWN;
American Shared Hospital Services AMS 10% shares dropped 12 percent to $2.70. American Shared Hospital Services reported Q3 earnings of $0.02 per share on revenue of $4.61 million.
Shares of Acushnet Holdings Corp GOLF 7.8% were down 8 percent to $17.70. Acushnet Holdings disclosed a 8.33 million share offing by selling shareholders
Intrexon Corp XON 7.96% was down, falling around 11 percent to $10.54 after dropping 25.63 percent on Friday..
In commodity news, oil traded up 0.14 percent to $56.82 while gold traded up 0.32 percent to $1,278.30.
Silver traded down 0.01 percent Monday to $16.87, while copper rose 0.11 percent to $3.0795.
European shares were lower today. The eurozone’s STOXX 600 declined 0.81 percent, the Spanish Ibex Index fell 0.63 percent, while Italy’s FTSE MIB Index dropped 0.82 percent. Meanwhile the German DAX declined 0.83 percent, and the French CAC 40 dropped 0.91 percent while U.K. shares fell 0.16 percent.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The U.S. Treasury budget report for October will be released at 2:00 p.m. ET.