US stocks experienced a mixed performance on Monday, with the Dow Jones Industrial Average shedding over 200 points. The Dow closed down 0.55% to 42,079.06, while the tech-heavy NASDAQ gained 0.14%, settling at 18,144.66. The S&P 500 also dipped, closing 0.14% lower at 5,730.18.
Consumer staples shares surged by 0.3% on Monday, while materials shares took a hit, falling by 0.6%.
Carnival Corporation (CCL) Outperforms Earnings Expectations
Carnival Corporation, the world’s largest cruise operator, delivered better-than-expected quarterly earnings, sending its stock higher. The company reported adjusted earnings of $1.27 per share, surpassing analyst forecasts of $1.16 per share. Carnival’s quarterly sales reached $7.90 billion, exceeding expectations of $7.83 billion.
Notable Stock Movements
Several companies experienced significant stock movements on Monday:
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Equities Trading UP:
* Kaixin Holdings (KXIN) shares soared 166% to $0.2397.
* XChange TEC.INC (XHG) shares surged 142% to $2.36.
* EMCORE Corporation (EMKR) shares gained 73% to $2.08 after Mobix Labs submitted an all-cash offer to acquire the company for $3.80 per share.
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Equities Trading DOWN:
* Nano Labs Ltd (NA) shares dropped 30% to $0.71.
* YXT.COM Group Holding Limited (YXT) shares fell 25% to $2.80.
* Plus Therapeutics, Inc. (PSTV) shares declined 25% to $1.39.
Commodities Performance
In the commodities market, oil traded down 0.2% to $68.05. Gold experienced a decline of 0.3%, closing at $2,659.10. Silver dropped 1.2% to $31.445, while copper fell 0.8% to $4.5645.
European Markets Retreat
European shares closed lower on Monday. The eurozone’s STOXX 600 index fell 0.9%, Germany’s DAX index dropped 0.6%, and France’s CAC 40 dipped 1.6%. Spain’s IBEX 35 Index declined 0.6%, while London’s FTSE 100 fell 0.5%.
The British economy grew by 0.5% on a quarterly basis during the second quarter, a slight slowdown from the 0.7% growth recorded in the first quarter. The UK’s current account deficit widened to £28.4 billion in the second quarter, compared to a revised £13.8 billion in the previous quarter.
Net consumer credit in the UK rose by £1.3 billion in August, up from £1.2 billion in July. German import prices increased by 0.2% year-over-year in August, compared to a 0.9% rise in July.
Asian Markets Close Mixed
Asian markets closed with a mixed performance on Monday. Japan’s Nikkei 225 index dipped 4.80%, while Hong Kong’s Hang Seng Index jumped 2.43%. China’s Shanghai Composite Index gained 8.06%, and India’s BSE Sensex fell 1.49%.
Japan’s housing starts fell by 5.1% year-over-year in August, compared to a 0.2% decline in the previous month. Industrial production in Japan fell by 3.3% month-over-month in August. Retail sales in Japan climbed by 2.8% year-over-year in August.
The official NBS Non-Manufacturing PMI in China fell to 50.0 in September from 50.3 in the previous month. Meanwhile, the official NBS Manufacturing PMI climbed to 49.8 in September from 49.1 in August.
Economic Indicators
The Chicago PMI rose to 46.6 in September from 46.1 in August, exceeding market estimates of 46.2.
