U.S. stocks traded higher this morning, with the Dow Jones gaining more than 250 points on Monday.
Following the market opening Monday, the Dow traded up 0.90% to 28,983.55 while the NASDAQ rose 0.33% to 10,611.02. The S&P 500 also rose, gaining, 0.79% to 3,614.08.
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Leading and Lagging Sectors
Energy shares jumped by 4.9% on Monday.
In trading on Monday, consumer discretionary shares fell by 1.8%.
Top Headline
The final reading of S&P Global manufacturing PMI was revised higher to 52 for September from preliminary reading of 51.8 and up from 51.5 in August.
Equities Trading UP
- FingerMotion, Inc. (NASDAQ:FNGR) shares shot up 56% to $5.27 after the stock rose more than 80% Friday.
- Shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI) got a boost, shooting 33% to $13.39.
- Myovant Sciences Ltd. (NYSE:MYOV) shares were also up, gaining 35% to $24.17 after the company received an acquisition offer from Sumitovant Biopharma and Sumitormo Pharma to acquire the company for $22.75 per share in cash.
Equities Trading DOWN
- Clene Inc. (NASDAQ:CLNN) shares tumbled 30% to $1.96 after the company released topline results from the Healey ALS Platform trial of CNM-Au8, an investigational gold nanocrystal suspension, in participants with amyotrophic lateral sclerosis (ALS).
- Shares of Blue Apron Holdings, Inc. (NYSE:APRN) were down 26% to $4.3025 after the company announced an equity distribution agreement allowing the company to sell up to $15M of stock.
- American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT) was down, falling 23% to $2.3101. American Virtual Cloud Technologies, on Friday, announced the intent to effect a reverse stock split.
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Commodities
In commodity news, oil traded up 6% to $84.24, while gold traded up 0.2% at $ 1,675.90.
Silver traded up 5.3% to $20.055 on Monday while copper fell 1.1% to $3.3765.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.3%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.7%. The German DAX gained 0.3%, French CAC 40 slipped 0.1% and Italy’s FTSE MIB Index gained 1.1%.
The S&P Global Eurozone manufacturing PMI was revised lower to 48.4 in September compared to a preliminary reading of 48.5. The S&P Global/CIPS manufacturing PMI for UK was revised lower to 48.4 in September from a preliminary level of 48.5, while German manufacturing PMI fell to 47.8 in September from a preliminary reading of 48.3.
The S&P Global French manufacturing PMI fell to 47.7 in September versus 50.6 in the previous month, while Italian manufacturing PMI rose to 48.3 in September from the 48 a month ago. The S&P Global manufacturing PMI for Spain dropped to 49 in September from 49.9 in the prior month.
Economics
- The final reading of S&P Global manufacturing PMI was revised higher to 52 for September from preliminary reading of 51.8 and up from 51.5 in August.
- The ISM Manufacturing PMI for September will be released at 10:00 a.m. ET. The ISM manufacturing index might rise slightly to 52.9 in September from 52.8 in August.
- Data on construction spending for August will be released at 10:00 a.m. ET. Analysts expect construction spending declining 0.3% in August following a 0.4% drop 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 Richmond President Thomas Barkin is set to speak at 11:45 a.m. ET.
- Kansas City Federal Reserve Bank President Esther George will speak at 2:15 p.m. ET.
Check out this: Investor Fear Eases Slightly Despite Dow Dipping Around 9% In September
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,254,650 cases with around 1,084,890 deaths. India confirmed a total of at least 44,597,490 cases and 528,700 deaths, while France reported over 35,475,260 COVID-19 cases with 155,110 deaths. In total, there were at least 623,554,200 cases of COVID-19 worldwide with more than 6,550,950 deaths.
