S&P 500 Down Over 100 Points; Actinium Pharmaceuticals Shares Plunge

Author: Avi Kapoor | August 05, 2024 01:39pm

U.S. stocks traded lower toward the end of trading, with the S&P 500 dipping more than 100 points on Monday.

The Dow traded down 2.3% to 38,852.44 while the NASDAQ fell 3.19% to 16,241.09. The S&P 500 also fell, dropping, 2.64% to 5,205.37.

Leading and Lagging Sectors

Industrials shares fell by just 1.4% on Monday.

In trading on Monday, information technology shares dipped by 3.5%.

Top Headline

The ISM services PMI climbed to 51.4 in July from 48.8 in April and also topping market expectations of 51.

Equities Trading UP
                       

• Kellanova  (NYSE:K) shares shot up 15% to $72.49 following a report suggesting Mars is considering an acquisition of the company.
• Shares of Sotera Health Company (NASDAQ:SHC) got a boost, surging 8% to $14.21 after the company reported better-than-expected quarterly financial results.
• TenX Keane Acquisition  (NASDAQ:TENK) shares were also up, gaining 129% to $28.20 after shareholders approved the combination with Citius Pharma’s oncology subsidiary.

Equities Trading DOWN

• Actinium Pharmaceuticals, Inc. (NASDAQ:ATNM) shares dropped 64% to $2.2001. On Monday, the FDA determined that Actinium Pharmaceuticals' Phase 3 SIERRA trial is not adequate to support a Biologics License Application (BLA) filing for Iomab-B despite its statistically significant primary endpoint.
• Shares of VBI Vaccines Inc. (NASDAQ:VBIV) were down 29% to $0.0664. VBI Vaccines was notified that its common shares will be delisted from Nasdaq effective as of opening of business on Aug. 8.
• Concord Medical Services Holdings Limited (NYSE:CCM) was down, falling 18% to $7.22.

Commodities

In commodity news, oil traded down 0.4% to $73.21 while gold traded down 0.8% at $2,449.30.

Silver traded down 3.8% to $27.315 on Monday, while copper fell 2.5% to $4.0000.

Euro zone

European shares closedlower today. The eurozone's STOXX 600 fell 2.17%, Germany's DAX fell 1.82% and France's CAC 40 fell 1.42%. Spain's IBEX 35 Index fell 2.34%, while London's FTSE 100 fell 2.04%.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 12.4%, Hong Kong's Hang Seng Index falling 1.46%, China's Shanghai Composite Index falling 1.54% and S&P BSE Sensex declining 2.74%.

Economics

• The ISM services PMI climbed to 51.4 in July from 48.8 in April and also topping market expectations of 51.
• The S&P Global composite PMI was revised lower to 54.3 in July versus the preliminary reading of 55.

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Posted In: ATNM CCM K SHC TENK VBIV