U.S. markets couldn't quite decide which direction to go on Monday, with the Nasdaq Composite climbing more than 50 points while the Dow Jones headed south. The divergence captured a day of selective optimism, with tech holding strong but financials taking a beating.

The Dow traded down 0.19% to 49,411.94 while the NASDAQ gained 0.29% to 23,740.51. The S&P 500 split the difference, edging up 0.04% to 6,969.38.

Sector Action: Staples Shine, Financials Fade

Consumer staples shares gained 1% on Monday, leading the sector scoreboard as investors rotated into defensive positions. On the flip side, financial stocks dipped 1.1%, marking the day's worst-performing sector.

Powell Drops a Bombshell

In what might be the most alarming headline of the day, Federal Reserve Chair Jerome Powell said Sunday that the Department of Justice had threatened the central bank with "criminal indictment" over his testimony before Congress, relating to its building renovation costs. This marks a major escalation in tensions between President Donald Trump and the central bank, raising serious questions about Fed independence.

The Day's Big Winners

Day One Biopharmaceuticals Inc (DAWN) shares shot up 20% to $10.77. The company reported preliminary 2025 OJEMDA net product revenue of $155.4 million, up 172% year over year—the kind of growth that gets investors excited.

Shares of Rxsight Inc (RXST) got a boost, surging 12% to $9.88. RxSight announced preliminary fourth-quarter revenue of $32.6 million, beating expectations.

SunOpta Inc (STKL) shares were also up, gaining 18% to $4.38 as the company raised its FY2025 sales guidance, signaling confidence in its growth trajectory.

The Day's Biggest Losers

Atara Biotherapeutics Inc (ATRA) shares dropped 53% to $6.41 after the company received an FDA Complete Response Letter for EBVALLO BLA, citing clinical trial adequacy concerns. It's the regulatory equivalent of being sent back to the drawing board, and investors bailed quickly.

Shares of Lyra Therapeutics Inc (LYRA) were down 51% to $1.84. Lyra Therapeutics announced plans to suspend further development of LYR-210, its lead product candidate for chronic rhinosinusitis, and implement a workforce reduction impacting its remaining 28 employees. When a biotech shelves its lead program, there's not much left to hang onto.

Lexeo Therapeutics Inc (LXEO) was down, falling 28% to $7.60. Lexeo Therapeutics announced interim Phase I/II data for LX2020 for the treatment of PKP2-associated arrhythmogenic cardiomyopathy, and apparently the market didn't like what it saw.

Commodities: Precious Metals Shine

In commodity news, oil traded down 0.7% to $58.72 while gold traded up 2.5% at $4,612.70. The gold rally suggests investors are nervous about something—whether it's the Fed drama, geopolitical tensions, or general market uncertainty.

Silver traded up 7.1% to $84.970 on Monday, while copper rose 1.1% to $5.9655, showing broad strength across the metals complex.

Global Market Roundup

European shares were higher across the board. The eurozone's STOXX 600 gained 0.21%, while Spain's IBEX 35 Index rose 0.12%. London's FTSE 100 gained 0.16%, Germany's DAX rose 0.57% and France's CAC 40 rose 0.02% during the session.

Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index gaining 1.44%, China's Shanghai Composite rising 1.09% and India's BSE Sensex rising 0.36%.

Economic Calendar

No major economic reports are scheduled for release today, leaving investors to digest the Powell news and individual company developments.