Following the market opening Monday, the Dow traded down 0.59 percent to 25,295.41 while the NASDAQ declined 0.27 percent to 7,428.57. The S&P also fell, dropping 0.62 percent to 2,750.61.
Leading and Lagging Sectors
Monday morning, the consumer discretionary shares slipped by just 0.05 percent. Meanwhile, top gainers in the sector included Petmed Express Inc PETS 14.99% up 14 percent, andFunko Inc FNKO 7.39% up 7 percent.
In trading on Monday, energy shares tumbled 1 percent.
Hasbro, Inc. HAS 5.18% reported weaker-than-expected results for its third quarter.
Hasbro said it earned $1.93 per share in the third quarter on revenue of $1.57 billion. The Street was modeling the company to earn $2.25 per share on revenue of $1.71 billion. Q3 sales of $1.57 billion missed estimates of $1.71 billion.
Equities Trading UP
JetPay Corporation JTPY 134.7% shares shot up 135 percent to $4.98 after the company announced it would be acquired for $5.05 per share.
Shares of Net Element, Inc. NETE 89% got a boost, shooting up 78 percent to $7.10 after the company announced the launch of a payment solution for the cannabis industry.
American Railcar Industries, Inc. ARII 50.7% shares were also up, gaining 51 percent to $69.77 after the company announced it would be acquired for $70 per share.
Equities Trading DOWN
Aduro BioTech, Inc. ADRO 37.26% shares dropped 38 percent to $3.88 after Merck reported data for STING, a similar treatment.
Shares of Mirati Therapeutics, Inc. MRTX 17.71% were down 16 percent to $33.77 after giving updated clinical data and sharing FDA guidance for a future trial.
Kura Oncology, Inc. KURA 18.22% was down, falling around 17 percent to $11.89 after the company issued an update on Phase 2 trial of Tipifarnib in HRAS mutant HNSCC.
In commodity news, oil traded down 0.35 percent to $68.88 while gold traded down 0.24 percent to $1,225.70.
Silver traded down 0.27 percent Monday to $14.61, while copper rose 1.03 to $2.8065.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.22 percent, the Spanish Ibex Index fell 0.23 percent, while Italy’s FTSE MIB Index slipped 0.38 percent. Meanwhile the German DAX climbed 0.41 percent, and the French CAC 40 gained 0.17 percent while U.K. shares rose 0.65 percent.
The Chicago Fed National Activity Index declined to 0.17 for September, versus a revised reading of 0.27 for August.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.