US Stocks Higher; Dow Gains Over 50 Points

Benzinga · Apr 8 21:45

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 50 points on Monday.

Following the market opening Monday, the Dow traded up 0.18% to 38,974.17 while the NASDAQ rose 0.17% to 16,276.01. The S&P 500 also rose, gaining, 0.10% to 5,209.69.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 0.7% on Monday.

In trading on Monday, health care shares fell by 0.3%.

Top Headline

Shares of Ducommun Inc (NYSE:DCO) jumped over 16% on Monday after the company confirmed that its Board of Directors received an unsolicited non-binding indication of interest from Albion River LLC.

Equities Trading UP

Auddia Inc. (NASDAQ:AUUD) shares shot up 260% to $5.14 after the company announced the USPTO awarded it with U.S. Patent 11,935,520 for the core AI technology the company uses in its flagship faidr app to deliver ad-free AM/FM radio stations to paid subscribers.

Shares of UTime Limited (NASDAQ:WTO) got a boost, surging 68% to $0.3101 after the company completed a private placement.

Longeveron Inc. (NASDAQ:LGVN) shares were also up, gaining 76% to $3.88 after the company submitted paperwork for a share offering.

Equities Trading DOWN

Perion Network Ltd. (NASDAQ:PERI) shares dropped 38% to $13.01 after the company slashed FY24 revenue guidance and issued first-quarter outlook below estimates.

Shares of MediaCo Holding Inc. (NASDAQ:MDIA) were down 26% to $2.87. Shares of MediaCo Holding jumped 177% on Friday after a 13D amended filing showed Standard General L.P. reported a 95.2% stake in the company as of April 1, 2024.

Selina Hospitality PLC (NASDAQ:SLNA) was down, falling 24% to $0.0419.

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Commodities

In commodity news, oil traded down 0.8% to $86.20 while gold traded up 0.6% at $2,358.90.

Silver traded up 1.5% to $27.915 on Monday, while copper rose 1% to $4.2765.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.3%, London's FTSE 100 rose 0.2% while Spain's IBEX 35 Index fell 0.1% The German DAX gained 0.7% French CAC 40 climbed 0.7% while Italy's FTSE MIB Index gained 0.7%.

Imports into Germany increased 3.2% month-over-month to EUR 111.5 billion in February, while exports from Germany fell 2% month-over-month to EUR 132.9 billion. German industrial production climbed by 2.1% month-over-month during February.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 gaining 0.91%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite falling 0.72% and India's S&P BSE Sensex gaining 0.67%.

Foreign exchange reserves in Singapore increased to SGD 497.3 billion in March from SGD 480.4 billion a month ago. The gauge for Japanese service sector declined to 49.8 in March versus 51.3 a month ago. Japan's current account surplus widened to JPY 2,644.2 billion in February from JPY 2,200.3 billion in the year-ago month. Chinese foreign exchange reserves jumped by $19.8 billion to $3.246 trillion during March.

Economics

There were no major US economic releases Monday.

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