U.S. Stock Indices Dip Amid Disappointing Factory Orders

On Monday, U.S. stock markets witnessed a downturn with the Dow Jones Industrial Average dropping over 100 points. The downward movement was indicative of larger issues as the Dow fell 0.36% to close at 36,116.18, while the tech-heavy NASDAQ Index experienced a more significant plunge of 1.19%, settling at 14,134.99. Meanwhile, the broader S&P 500 Index also succumbed to negative pressure, declining by 0.75% to end at 4,560.38.

Consumer Staples Show Resilience

Despite the broader market slump, consumer staples were a relative bright spot on Monday, managing to inch up by 0.2%. This contrasted with sectors like information technology, which saw a notable drop of 2.3%.

Factory Orders Decline in October

In economic news, October was a challenging month for U.S. manufacturing, with factory orders falling 3.6% from the previous month. This downturn outpaced market predictions, which had forecasted a 2.8% decline, and it represented a sharp reversal from the revised 2.3% increase observed in September.

Movers in the Market

EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) saw a thrilling surge in their stock value, which skyrocketed 178% to $18.37 following positive outcomes from their Phase 2 trial in wet AMD. In a significant industry move, Alaska Air Group, Inc. (NYSE: ALK) announced their intention to acquire Hawaiian Holdings, Inc., leading to a 173% jump in the latter's shares to $13.27. Elsewhere, SilverSun Technologies, Inc. (SSNT) also impressed investors, as shares leaped by 208% to $11.31 after a major investment announcement.

Downward Spirals in Trading

However, some companies faced steep declines. U Power Limited (UCAR) plummeted 58% to $0.65 following the announcement of a registered follow-on offering. Meta Materials Inc. (MMAT) dwindled by 33% to $0.0733 after revealing a new registered direct offering, and Virgin Galactic Holdings, Inc. (SPCE) suffered an 18% decline to $1.93 amidst news of halted investments by founder Richard Branson.

Commodity Market Fluctuations

Commodity markets also showed signs of stress. Oil prices dipped 0.1% to $74.00, while gold lost substantial ground, dropping 2.2% to $2,043.50. Silver and copper weren't spared from the downturn, falling 3.7% and 2.1%, respectively.

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