Dow Dips 1%; Mustang Bio Shares Spike Higher

U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 400 points on Monday.

The Dow traded down 1% to 44,379.69 while the NASDAQ declined 0.85% to 20,426.99. The S&P 500 also fell, dropping, 0.39% to 6,255.16.

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Leading and Lagging Sectors

Industrials shares jumped by 0.1% on Monday.

In trading on Monday, consumer discretionary stocks dipped by 1.1%.

Top Headline

Cogent Biosciences, Inc. (NASDAQ:COGT) announced topline results from Part 2 of the SUMMIT trial of bezuclastinib for non-advanced systemic mastocytosis, showing clinically meaningful and statistically significant improvements across the primary and all key secondary endpoints.

Equities Trading UP
           

• Mustang Bio, Inc. (NASDAQ:MBIO) shares shot up 319% to $4.99 after the company was granted FDA Orphan Drug Designation for MB-101 in astrocytomas and glioblastoma.
• Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) got a boost, surging 79% to $17.98 after the company announced preclinical efficacy with ART12.11 in a stress-induced depression model.
• LogProstyle Inc. (NYSE:LGPS) shares were also up, gaining 155% to $2.08 after the company reported a year-over-year increase in FY25 financial results.

Equities Trading DOWN

• Core Scientific, Inc (NASDAQ:CORZ) shares dropped 21% to $14.21 after CoreWeave announced plans to acquire the company in an all-stock deal.
• Shares of Jasper Therapeutics, Inc. (NASDAQ:JSPR) were down 51% to $3.2964 after the company reported an 89% response rate in its Urticaria study and will halt the program.
• Apogee Therapeutics, Inc. (NASDAQ:APGE) was down, falling 16% to $40.03 after the company released 16-week data from Part A of the Phase 2 APEX clinical trial of APG777 for moderate-to-severe atopic dermatitis.

Commodities

In commodity news, oil traded up 0.7% to $67.44 while gold traded down 0.5% at $3,325.80.

Silver traded down 0.8% to $36.795 on Monday, while copper fell 2.7% to $5.0025.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.43%, while Spain's IBEX 35 Index rose 0.43%. London's FTSE 100 gained 0.01%, Germany's DAX 40 gained 1% and France's CAC 40 gained 0.39% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.56%, Hong Kong's Hang Seng falling 0.12%, China's Shanghai Composite gaining 0.02% and India's BSE Sensex gaining 0.01%.

Economics

No major economic reports are scheduled for release today.

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