U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 1% on Monday.
Following the market opening Monday, the Dow traded up 0.60% to 52,186.22 while the NASDAQ rose 1.34% to 25,636.32. The S&P 500 also rose, gaining, 0.82% to 7,414.51.
Leading and Lagging Sectors
Communication services shares jumped by 2.3% on Monday.
In trading on Monday, materials stocks fell by 1%.
Top Headline
Shares of Comcast Corporation (NASDAQ:CMCSA) jumped around 10% on Monday after the company announced it will separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky.
Equities Trading UP
- Universe Pharmaceuticals Inc (NASDAQ:UPC) shares shot up 409% to $15.06 after the company announced it will acquire Best Praise International for $10.75 million.
- Shares of Decoy Therapeutics Inc (NASDAQ:DCOY) got a boost, surging 118% to $12.02. The company announced a $21 million private placement financing with a healthcare investor at $5.91 per share.
- TNL Mediagene (NASDAQ:TNMG) shares were also up, gaining 86% to $0.90 after the company announced that “Keychron Orca echo” generated gross merchandise value exceeding ¥300 million within five days of launch.
Equities Trading DOWN
- Farmmi Inc (NASDAQ:FAMI) shares dropped 77% to $0.28 after the company announced the pricing of its $3 million offering of 12 million shares and warrants at $0.25 per unit.
- Shares of Evommune Inc (NYSE:EVMN) were down 30% to $17.53 after the company announced top-line results from its phase 2b trial evaluating the efficacy and safety of EVO756 did not meet the primary endpoint of mean change in a patient’s Urticaria Activity Score over seven days at 12 weeks at any dose.
- Picocela Inc – ADR (NASDAQ:PCLA) was down, falling 30% to $4.90.
Commodities
In commodity news, oil traded up 1.3% to $70.13 while gold traded down 0.8% at $4,064.40.
Silver traded down 0.3% to $59.055 on Monday, while copper fell 0.3% to $6.1870.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 gained 0.1%, while Spain’s IBEX 35 Index fell 0.2%. London’s FTSE 100 fell 0.1%, Germany’s DAX gained 0.1%, while France’s CAC 40 fell 0.1%.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.15%, Hong Kong’s Hang Seng Index surging 1.57%, China’s Shanghai Composite rising 1.16% and India’s BSE Sensex falling 0.48%.
Economics
The Dallas Fed manufacturing index will be released today.
Photo via Shutterstock