Marketdash
Back to News

Markets Open Mixed as New York Manufacturing Takes a Tumble

MarketDash Editorial Team
3 hours ago
U.S. stocks showed a split personality Monday morning with modest gains for the Dow and S&P 500 while tech slipped. The NY Empire State Manufacturing Index crashed from a one-year high to negative territory, missing expectations badly. Healthcare led the winners while energy dragged, and some wild swings hit individual stocks.

Monday morning brought one of those market sessions where everyone had a different opinion. The Dow Jones climbed a modest 0.09% to 48,502.84, showing some optimism. The S&P 500 joined the party with a 0.13% gain to 6,836.56. Meanwhile, the NASDAQ decided to sit this one out, slipping 0.03% to 23,187.60.

Manufacturing Data Disappoints

The big headline came from New York's manufacturing sector, which apparently forgot to show up for work. The NY Empire State Manufacturing Index cratered to -3.9 in December from a one-year high of 18.7 the previous month. Economists had penciled in a reading of 10, making this miss particularly painful. When you go from a one-year high to negative territory in a single month, that's the kind of whiplash that gets people's attention.

Sector Action Shows Clear Favorites

Healthcare shares jumped 1% on Monday, leading the market as investors rotated into defensive plays. On the flip side, energy stocks fell 1%, making them the day's clear laggards.

The Big Movers

Some individual stocks put on quite a show. 3 E Network Technology Group Ltd (MASK) rocketed 88% to $0.57 after signing a master services agreement to develop an AI data center in Finland. Because apparently every company needs an AI data center these days.

AlphaVest Acquisition Corp (AMCI) surged 31% to $10.30, while Artiva Biotherapeutics Inc (ARTV) climbed 32% to $4.34 on positive initial safety and translational data supporting deep B-Cell depletion with AlloNK® in autoimmune disease.

On the downside, iRobot Corp (IRBT) got absolutely destroyed, dropping 69% to $1.36 after filing for Chapter 11 bankruptcy. The Roomba maker's troubles show that even innovative companies can hit the wall.

CCH Holdings Ltd (CCHH) shares tumbled 68% to $0.85, while Momentus Inc (MNTS) fell 36% to $0.54 after announcing a brutal 1-for-17.85 reverse split.

Commodities and Currencies

In commodity markets, oil slipped 0.6% to $57.08 while precious metals caught a bid. Gold traded up 0.9% at $4,366.60, and silver really got going with a 3% jump to $63.850. Copper rose 1.9% to $5.4595.

Global Markets Paint Mixed Picture

European markets showed strength across the board. The eurozone's STOXX 600 gained 0.8%, while Spain's IBEX 35 Index rose 1%. London's FTSE 100 jumped 1%, Germany's DAX 40 climbed 0.4%, and France's CAC 40 gained 1.1%.

Asia wasn't feeling quite so optimistic. Markets closed lower across the region, with Japan's Nikkei falling 1.31%, Hong Kong's Hang Seng dipping 1.34%, China's Shanghai Composite declining 0.55%, and India's BSE Sensex slipping 0.06%.

Back to News

Markets Open Mixed as New York Manufacturing Takes a Tumble

MarketDash Editorial Team
3 hours ago
U.S. stocks showed a split personality Monday morning with modest gains for the Dow and S&P 500 while tech slipped. The NY Empire State Manufacturing Index crashed from a one-year high to negative territory, missing expectations badly. Healthcare led the winners while energy dragged, and some wild swings hit individual stocks.

Monday morning brought one of those market sessions where everyone had a different opinion. The Dow Jones climbed a modest 0.09% to 48,502.84, showing some optimism. The S&P 500 joined the party with a 0.13% gain to 6,836.56. Meanwhile, the NASDAQ decided to sit this one out, slipping 0.03% to 23,187.60.

Manufacturing Data Disappoints

The big headline came from New York's manufacturing sector, which apparently forgot to show up for work. The NY Empire State Manufacturing Index cratered to -3.9 in December from a one-year high of 18.7 the previous month. Economists had penciled in a reading of 10, making this miss particularly painful. When you go from a one-year high to negative territory in a single month, that's the kind of whiplash that gets people's attention.

Sector Action Shows Clear Favorites

Healthcare shares jumped 1% on Monday, leading the market as investors rotated into defensive plays. On the flip side, energy stocks fell 1%, making them the day's clear laggards.

The Big Movers

Some individual stocks put on quite a show. 3 E Network Technology Group Ltd (MASK) rocketed 88% to $0.57 after signing a master services agreement to develop an AI data center in Finland. Because apparently every company needs an AI data center these days.

AlphaVest Acquisition Corp (AMCI) surged 31% to $10.30, while Artiva Biotherapeutics Inc (ARTV) climbed 32% to $4.34 on positive initial safety and translational data supporting deep B-Cell depletion with AlloNK® in autoimmune disease.

On the downside, iRobot Corp (IRBT) got absolutely destroyed, dropping 69% to $1.36 after filing for Chapter 11 bankruptcy. The Roomba maker's troubles show that even innovative companies can hit the wall.

CCH Holdings Ltd (CCHH) shares tumbled 68% to $0.85, while Momentus Inc (MNTS) fell 36% to $0.54 after announcing a brutal 1-for-17.85 reverse split.

Commodities and Currencies

In commodity markets, oil slipped 0.6% to $57.08 while precious metals caught a bid. Gold traded up 0.9% at $4,366.60, and silver really got going with a 3% jump to $63.850. Copper rose 1.9% to $5.4595.

Global Markets Paint Mixed Picture

European markets showed strength across the board. The eurozone's STOXX 600 gained 0.8%, while Spain's IBEX 35 Index rose 1%. London's FTSE 100 jumped 1%, Germany's DAX 40 climbed 0.4%, and France's CAC 40 gained 1.1%.

Asia wasn't feeling quite so optimistic. Markets closed lower across the region, with Japan's Nikkei falling 1.31%, Hong Kong's Hang Seng dipping 1.34%, China's Shanghai Composite declining 0.55%, and India's BSE Sensex slipping 0.06%.