Asia Morning: US Stocks Mixed, Biotech Sector Leads

Nektar Therapeutics (NKTR +9.2%), Cardinal Health (CAH +6.7%), Vertex Pharmaceuticals (VRTX +5.0%) and Gilead Sciences (GILD +4.3%) were top gainers...

Trading floor 2

On Monday major U.S. stock indexes closed mixed.

The Dow Jones Industrial Average slipped 109 points (-0.5%) to 24,222, the S&P 500 was little changed at 2,930, while the Nasdaq 100 rose 78 points (+0.9%) to 9,298.


Source: GAIN Capital, TradingView


Pharmaceuticals, Biotechnology & Life Sciences (+2.27%), Technology Hardware & Equipment (+1%) and Health Care Equipment & Services (+0.92%) sectors performed the best, while Banks (-3.68%), Automobiles & Components (-3.22%) and Consumer Services (-1.89%) sectors lagged behind. 

Nektar Therapeutics (NKTR +9.2%), Cardinal Health (CAH +6.7%), Vertex Pharmaceuticals (VRTX +5.0%) and Gilead Sciences (GILD +4.3%) were top gainers.

On the other hand, Under Armour (UAA -9.7%), Alliance Data Systems (ADS -8.8%), Coty (COTY -8.1%) and Mosaic (MOS -5.8%) lost the most.

On the technical side, about 29.8% (25.2% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 74.9% (57.2% in the prior session) were above their 20-day moving average.

Later today, April U.S. Consumer Price Index (-0.8% on month expected), government monthly budget balance (deficit of 737.0 billion dollars expected), and the National Federation of Independent Business's Small Business Optimism Index (84.0 expected) will be reported.

European stocks looked tired, with the Stoxx Europe 600 Index slipping 0.4%. Germany's DAX fell 0.7%, France's CAC dropped 1.3%, while the U.K.'s FTSE 100 was little changed.

U.S. Treasury prices eased further as investors expected an increasing supply of Treasuries. The benchmark 10-year Treasury yield advanced 4.5 basis points to 0.724%.

Spot gold price declined 4 dollars to $1,695 an ounce as U.S. dollar firmed up.

U.S. WTI crude oil futures (June) fell 2.4% to $24.14 a barrel, and Brent crude oil futures were down 4.3% to $29.63 a barrel. 

On the forex front, the U.S. dollar strengthened against other major currencies. The ICE U.S. Dollar Index regained the key 100 level as it jumped 1.1% to 100.23.

More from Indices

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.