Marketdash
Back to News

U.S. Markets Drift Lower as Oil Slides and Homebuilder Confidence Ticks Up

MarketDash Editorial Team
6 hours ago
U.S. stocks traded in the red Monday with the Nasdaq down 0.4% as energy shares led losses. Oil fell over 1% while the housing market index reached an eight-month high. Meanwhile, individual stocks saw dramatic swings from bankruptcy filings to AI data center deals.

U.S. markets couldn't quite find their footing Monday, with stocks trading lower across the board by midday. The Nasdaq Composite fell around 0.4%, leading the declines as investors navigated a mixed bag of economic data and corporate news.

The Dow slipped 0.27% to 48,328.47, while the Nasdaq dropped 0.36% to 23,112.04. The S&P 500 also edged down 0.11% to 6,819.62, showing relatively modest losses compared to its tech-heavy peers.

Sector Action: Healthcare Shines, Energy Stumbles

Healthcare shares provided Monday's bright spot, jumping 0.9% as the session's best-performing sector. On the flip side, energy stocks took a beating, falling 1.5% as crude oil prices declined.

Housing Market Shows Resilience

The NAHB/Wells Fargo Housing Market Index offered some encouraging news for homebuilders, rising to 39 in December from 38 in November. That's the highest reading in eight months and matched market expectations of 38. It's a small improvement, sure, but any upward movement in housing sentiment counts as progress these days.

Big Movers: Winners Take the Spotlight

3 E Network Technology Group Ltd (MASK) absolutely soared, shooting up 47% to $0.44 after signing a master services agreement to develop an AI data center in Finland. The AI infrastructure buildout continues to generate investor excitement.

Kyverna Therapeutics Inc (KYTX) surged 28% to $11.22 following the company's announcement of topline data from KYSA-8, sending biotech investors scrambling to digest the results.

Artiva Biotherapeutics Inc (ARTV) gained 50% to $4.94 after reporting positive initial safety and translational data supporting deep B-cell depletion with AlloNK® in autoimmune disease.

The Day's Biggest Losers

iRobot Corp (IRBT) collapsed 72% to $1.20 after filing for Chapter 11 bankruptcy protection, marking a stunning fall for the Roomba maker.

Argo Blockchain PLC ADR (ARBK) dropped 22% to $5.35 as crypto-related stocks traded lower amid volatility in Bitcoin prices. The cryptocurrency space continues to see choppy trading that ripples through related equities.

Momentus Inc (MNTS) tumbled 43% to $0.48 after announcing a 1-for-17.85 reverse stock split, the kind of move that typically signals distress.

Commodities: Oil Slides, Metals Mixed

In commodity markets, oil traded down 1.5% to $56.58, weighing on energy stocks throughout the session. Gold dipped slightly by 0.1% to $4,366.60.

Silver bucked the trend, trading up 2.2% to $63.395, while copper rose 1.1% to $5.4175 as industrial metals found some support.

Global Markets Paint Mixed Picture

European shares closed higher across the board. The eurozone's STOXX 600 gained 0.74%, while Spain's IBEX 35 Index rose 1.11%. London's FTSE 100 jumped 1.06%, Germany's DAX 40 rose 0.18%, and France's CAC 40 gained 0.70%.

Asian markets weren't as fortunate, closing lower on Monday. Japan's Nikkei fell 1.31%, Hong Kong's Hang Seng dipped 1.34%, China's Shanghai Composite declined 0.55%, and India's BSE Sensex fell 0.06%.

Economic Data Delivers Surprises

The NY Empire State Manufacturing Index disappointed, falling to -3.9 in December from a one-year high of 18.7 in November. That missed market estimates of 10 by a wide margin, suggesting manufacturing activity in the region contracted more than expected.

Meanwhile, the NAHB/Wells Fargo Housing Market Index provided the counterpoint, climbing to 39 in December and hitting its highest level in eight months, up from 38 in November and matching consensus forecasts.

Back to News

U.S. Markets Drift Lower as Oil Slides and Homebuilder Confidence Ticks Up

MarketDash Editorial Team
6 hours ago
U.S. stocks traded in the red Monday with the Nasdaq down 0.4% as energy shares led losses. Oil fell over 1% while the housing market index reached an eight-month high. Meanwhile, individual stocks saw dramatic swings from bankruptcy filings to AI data center deals.

U.S. markets couldn't quite find their footing Monday, with stocks trading lower across the board by midday. The Nasdaq Composite fell around 0.4%, leading the declines as investors navigated a mixed bag of economic data and corporate news.

The Dow slipped 0.27% to 48,328.47, while the Nasdaq dropped 0.36% to 23,112.04. The S&P 500 also edged down 0.11% to 6,819.62, showing relatively modest losses compared to its tech-heavy peers.

Sector Action: Healthcare Shines, Energy Stumbles

Healthcare shares provided Monday's bright spot, jumping 0.9% as the session's best-performing sector. On the flip side, energy stocks took a beating, falling 1.5% as crude oil prices declined.

Housing Market Shows Resilience

The NAHB/Wells Fargo Housing Market Index offered some encouraging news for homebuilders, rising to 39 in December from 38 in November. That's the highest reading in eight months and matched market expectations of 38. It's a small improvement, sure, but any upward movement in housing sentiment counts as progress these days.

Big Movers: Winners Take the Spotlight

3 E Network Technology Group Ltd (MASK) absolutely soared, shooting up 47% to $0.44 after signing a master services agreement to develop an AI data center in Finland. The AI infrastructure buildout continues to generate investor excitement.

Kyverna Therapeutics Inc (KYTX) surged 28% to $11.22 following the company's announcement of topline data from KYSA-8, sending biotech investors scrambling to digest the results.

Artiva Biotherapeutics Inc (ARTV) gained 50% to $4.94 after reporting positive initial safety and translational data supporting deep B-cell depletion with AlloNK® in autoimmune disease.

The Day's Biggest Losers

iRobot Corp (IRBT) collapsed 72% to $1.20 after filing for Chapter 11 bankruptcy protection, marking a stunning fall for the Roomba maker.

Argo Blockchain PLC ADR (ARBK) dropped 22% to $5.35 as crypto-related stocks traded lower amid volatility in Bitcoin prices. The cryptocurrency space continues to see choppy trading that ripples through related equities.

Momentus Inc (MNTS) tumbled 43% to $0.48 after announcing a 1-for-17.85 reverse stock split, the kind of move that typically signals distress.

Commodities: Oil Slides, Metals Mixed

In commodity markets, oil traded down 1.5% to $56.58, weighing on energy stocks throughout the session. Gold dipped slightly by 0.1% to $4,366.60.

Silver bucked the trend, trading up 2.2% to $63.395, while copper rose 1.1% to $5.4175 as industrial metals found some support.

Global Markets Paint Mixed Picture

European shares closed higher across the board. The eurozone's STOXX 600 gained 0.74%, while Spain's IBEX 35 Index rose 1.11%. London's FTSE 100 jumped 1.06%, Germany's DAX 40 rose 0.18%, and France's CAC 40 gained 0.70%.

Asian markets weren't as fortunate, closing lower on Monday. Japan's Nikkei fell 1.31%, Hong Kong's Hang Seng dipped 1.34%, China's Shanghai Composite declined 0.55%, and India's BSE Sensex fell 0.06%.

Economic Data Delivers Surprises

The NY Empire State Manufacturing Index disappointed, falling to -3.9 in December from a one-year high of 18.7 in November. That missed market estimates of 10 by a wide margin, suggesting manufacturing activity in the region contracted more than expected.

Meanwhile, the NAHB/Wells Fargo Housing Market Index provided the counterpoint, climbing to 39 in December and hitting its highest level in eight months, up from 38 in November and matching consensus forecasts.