It was one of those Monday sessions where the market just couldn't find its footing. U.S. stocks traded in the red midway through the day, with the Dow Jones shedding around 250 points as investors digested some less-than-inspiring economic data.

The Dow slipped 0.53% to 47,465.86, while the NASDAQ gave up 0.22% to settle at 23,313.48. The S&P 500 wasn't doing much better, dropping 0.26% to 6,831.40.

Sectors Tell Different Stories

Not everything was doom and gloom, though. Energy shares climbed 1% as oil prices rallied, providing one of the few bright spots in an otherwise lackluster session.

On the flip side, utilities took it on the chin, falling 2.1% to lead sector decliners.

Manufacturing Softness Continues

The headline that had traders talking: manufacturing activity weakened more than expected in November. The ISM manufacturing PMI declined to 48.2, down from 48.7 the previous month and missing market estimates of 48.6. That's the lowest reading in four months, and anything below 50 signals contraction. Not exactly the confidence boost markets were hoping for.

For context, the S&P Global manufacturing PMI painted a slightly rosier picture, coming in at a revised 52.2 for November, though that was down from October's final reading of 52.5 and above the preliminary estimate of 51.9.

Big Individual Movers

While the broader market meandered, individual stocks were having dramatic days. Q32 Bio Inc. (QTTB) absolutely exploded, rocketing 103% to $4.44 after announcing it sold its Phase 2 complement inhibitor ADX-097 to Akebia. The deal structure is pretty attractive: $12 million upfront with potential milestone and royalty payments that could reach $592 million.

New Fortress Energy Inc. (NFE) also had a strong showing, surging 15% to $1.41 as investors reacted positively to news of conditional approval for a large liquified natural gas supply contract.

KALA BIO, Inc. (KALA) jumped 86% to $1.80 after securing a $6 million securities purchase agreement. The company also brought David Lazar on board as CEO and Chairman of the Board.

On the Downside

Sionna Therapeutics, Inc. (SION) dropped 16% to $36.42 after RBC Capital downgraded the stock from Sector Perform to Underperform, which is never what you want to see on a Monday morning.

CN ENERGY GROUP Inc (CNEY) fell 17% to $1.21 despite announcing the launch of its PATHENBOT Robotics Solutions Platform and the official website. Sometimes good news just doesn't land.

Bitmine Immersion Technologies, Inc. (BMNR) declined 13% to $28.96 as crypto-linked stocks traded lower alongside Bitcoin, which slipped below $86,000.

Commodities Stage a Rally

The commodity complex had a much better day than equities. Oil led the charge, climbing 1.4% to $59.40 per barrel, which explains the strength in energy stocks.

Precious metals joined the party, with gold edging up 0.2% to $4,263.90 and silver posting a solid 2.8% gain to $58.77. Even copper got in on the action, rising 0.6% to $5.31.

Global Markets Roundup

European markets mostly followed Wall Street's lead lower. The eurozone's STOXX 600 fell 0.20%, though Spain's IBEX 35 Index managed to eke out a 0.11% gain. London's FTSE 100 dipped 0.18%, Germany's DAX 40 dropped 1.04%, and France's CAC 40 fell 0.32%.

Asian markets closed with a mixed performance. Japan's Nikkei slid 1.89%, while Hong Kong's Hang Seng gained 0.67% and China's Shanghai Composite rose 0.65%. India's BSE Sensex was essentially flat, down just 0.08%.