U.S. stocks traded mixed this morning, with the Dow Jones gaining around 250 points on Monday.
Following the market opening Monday, the Dow traded up 0.84% to 31,524.56 while the NASDAQ fell 0.26% to 11,324.59. The S&P also rose, gaining, 0.33% to 3,914.14.
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Leading and Lagging Sectors
Financials shares rose by 1.9% on Monday. Meanwhile, top gainers in the sector included Forge Global Holdings, Inc. (NYSE:FRGE), up 19% and Ocwen Financial Corporation (NYSE:OCN) up 8%.
In trading on Monday, real estate shares fell 0.3%.
Top Headline
Broadcom Inc (NASDAQ:AVGO) is reportedly in discussions to take over cloud computing company VMWare Inc (NYSE:VMW).
The San Jose, California-based semiconductors and infrastructure software solutions company is looking to purchase VMWare, Bloomberg reported, citing people familiar with the matter.
Equities Trading UP
Forge Global Holdings, Inc. (NYSE:FRGE) shares shot up 20% to $21.18 after dipping 15% on Friday.
Shares of VMware, Inc. (NYSE:VMW) got a boost, shooting 17% to $111.84 following several reports Broadcom is in talks to acquire the company.
O2Micro International Limited (NASDAQ:OIIM) shares were also up, gaining 15% to $3.3659. O2Micro announced the receipt of an updated preliminary non-binding proposal to acquire the company.
Equities Trading DOWN
Evoke Pharma, Inc. (NASDAQ:EVOK) shares tumbled 23% to $2.36 after effect of 1:12 reverse stock split.
Shares of NanoViricides, Inc. (NYSE:NNVC) were down 19% to $2.1113 after jumping around 40% on Friday.
PowerSchool Holdings, Inc. (NYSE:PWSC) was down, falling 16% to $10.94. The company recently posted downbeat quarterly earnings.
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Commodities
In commodity news, oil traded up 0.5% to $110.88, while gold traded up 1% to $1,860.50.
Silver traded up 2.1% to $22.125 on Monday while copper rose 0.4% to $4.2915.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 1%, London’s FTSE 100 jumped 1.3% and Spain’s IBEX 35 Index rose 1.1%. The German DAX climbed 1.1%, French CAC 40 gained 0.4% and Italy’s FTSE MIB Index fell 0.3%.
The Ifo Business Climate indicator for Germany increased to a three-month high of 93 in May versus a revised reading of 91.9 in April.
Economics
The Chicago Fed National Activity Index rose to 0.47 points in April versus a three-month low reading of 0.36 points in the previous month.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 85,004,430 cases with around 1,028,920 deaths. India confirmed a total of at least 43,138,390 cases and 524,450 deaths, while Brazil reported over 30,791,220 COVID-19 cases with 665,680 deaths. In total, there were at least 527,804,110 cases of COVID-19 worldwide with more than 6,300,510 deaths.
