Midway through trading Monday, the Dow traded down 0.46% to 26797.24 while the NASDAQ fell 0.83% to 8,094.37. The S&P also fell, dropping 0.52% to 2,974.90.
Leading and Lagging Sectors
In trading on Monday, information technology shares fell 1%.
Deutsche Bank AG (NYSE: DB) confirmed over the weekend it will eliminate 18,000 jobs by 2022 to save 17 billion euros ($19 billion USD).
Deutsche Bank plans on eliminating its global equities sales and trading business and cut back its investment banking business to improve profitability. The restructuring plan will result in a net loss of 2.8 billion euros in the second quarter and is expected to cost 7.4 billion euros through 2022.
Equities Trading UP
Taronis Technologies, Inc. (NASDAQ: TRNX) shares shot up 63% to $0.3404 after the company generated record MagneGas production.
Shares of Sol-Gel Technologies Ltd. (NASDAQ: SLGL) got a boost, shooting up 19% to $10.60 after announcing positive results from its Phase 3 program evaluating Epsolay microencapsulated benzoyl peroxide cream, 5%, made with the company’s proprietary microencapsulation technology, for the treatment of papulopustular rosacea.
Soliton, Inc. (NASDAQ: SOLY) shares were also up, gaining 27% to $14.50. Soliton will announce cellulite trial data for 26-week period on July 15, 2019.
Equities Trading DOWN
Intra-Cellular Therapies, Inc. (NASDAQ: ITCI) shares tumbled 24% to $10.23 after the company released mixed study results from two Phase 3 clinical trials evaluating lumateperone as monotherapy in the treatment of major depressive episodes associated with bipolar depression.
Shares of CannTrust Holdings Inc. . (NYSE: CTST) were down 19% to $4.0168 after Health Canada notified the company that its greenhouse facility in Ontario is not compliance with certain regulations and placed a hold on inventory from this until the company is in compliance.
Nano Dimension Ltd. (NASDAQ: NNDM) was down, falling 20% to $0.4179 after the company reported preliminary Q2 sales of $1 million to $1.2 million, which is below management's expectations. Nano Dimension announced it's conducting a review of strategic alternatives. The company states there can be no assurance that the exploration of strategic alternatives will result in a transaction.
In commodity news, oil traded up 1.2% to $58.19, while gold traded down 0.1% to $1,399.30.
Silver traded up 0.4% Monday to $15.055, while copper rose 0.2% to $2.665.
European shares were lower today. The eurozone’s STOXX 600 fell 0.19%, the Spanish Ibex Index fell 0.55%, while Italy’s FTSE MIB Index dropped 0.12%. Meanwhile, the German DAX declined 0.29%, and the French CAC 40 fell 0.21% while UK shares fell 0.07%.
The TD Ameritrade Investor Movement Index for June is schedule for release at 12:30 p.m. ET.
Data on consumer credit for May will be released at 3:00 p.m. ET.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Profit with More New & Research. Gain access to a streaming platform with all the information you need to invest better today. Click here to start your 14 Day Trial of Benzinga Professional
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.