Yahoo Finance Trending tickers: Crest Nicholson | Baidu | Nvidia
A look at the stocks making headlines on Monday
Crest Nicholson (CRST.L)
The fate of housebuilder Crest Nicholson was at the crux of a number of issues for property stocks on Monday morning, as its stock fell more than 10% in early trade in London.
The dip comes amid a a profit warning amid "worsened" trading conditions over the summer.
It blamed the chill on the increased borrowing costs for first-time buyers as things have become "significantly more expensive".
Stock was down 10.5% by 9.15am in London as it said its sales-per-outlet-per-week which was running at 0.5 for the first half of the year has pulled back to 0.25 for H2.
Read more: Asking prices for UK houses fall as rents climb
"The housing market is on very shaky foundations," said Charlie Huggins, manager of the quality shares portfolio at Wealth Club. "Although inflation appears to be moderating, the Bank of England is expected to tighten the screw further in the coming months.
"As such, it seems unlikely that trading conditions for Crest Nicholson or its peers will improve any time soon.”
Baidu (BIDU)
In China Baidu was the poster child for worries among tech stocks in the region, finishing 3.6% lower on Monday ahead of its financial results on Tuesday.
Poor data from China signalling stalling growth has troubled businesses over the previous months. And despite Baidu's head start in AI, traders don't seem convinced of the outlook long-term and analysts have lowered their expectations for the stock in Q2.
Oil
Crude and Brent crude were on the up on Monday for a third session in a row as data pointed to tight supplies amid OPEC+ cuts by Russia and Saudi Arabia.
Read more: FTSE 100 and European markets rise as UK house prices fall
The moves upwards will be welcome after falling prices last week due to worry over shaky economic growth data coming out of China, one of the world's largest consumers of the commodity.
Crude oil (CL=F) was up 0.6%, at around $81.77 (£64.17) a barrel on Monday morning and Brent crude (BZ=F) was up 0.6% to trade at $85.29.
Nvidia (NVDA)
Nvidia stock headed more than 2% higher in pre-market trading ahead of the US open, as traders readied their bets ahead of its earnings report. The chipmaker will report on Wednesday after market close.
Read more: Stocks that are trending today
Last week, analysts polled by FactSet were forecasting an adjusted $2.08 cents per share on $11.1bn in revenue.
The company has been one of the biggest beneficiaries of the AI boom as companies scramble to harness complex computing power.
Watch: Mortgage rates hit highest level in 20 years
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