U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Monday.
The Dow traded up 0.04% to 40,020.16 while the NASDAQ rose 0.64% to 16,792.13. The S&P 500 also rose, gaining, 0.32% to 5,320.47.
Leading and Lagging Sectors
Information technology shares rose by 1.1% on Monday.
In trading on Monday, consumer discretionary shares fell by 0.3%.
Top Headline
Shares of Wix.com Ltd (NASDAQ:WIX) jumped around 24% on Monday after the company reported its fiscal first-quarter 2024 results.
Revenue grew 12% Y/Y to $419.8 million, beating the analyst consensus estimate of $417.8 million. Adjusted EPS of $1.29 beat the analyst consensus estimate of $1.03. The stock gained after the results.
Equities Trading UP
- NKGen Biotech, Inc. (NASDAQ:NKGN) shares shot up 55% to $1.7340 after the company's SNK01 NK Cell Therapy was cleared to begin a Phase 2 trial in Alzheimer's disease.
- Shares of Rekor Systems, Inc. (NASDAQ:REKR) got a boost, surging 24% to $1.64 after the company announced a partnership with MS2.
- MultiMetaVerse Holdings Limited (NASDAQ:MMV) shares were also up, gaining 130% to $1.4350. MultiMetaVerse Holdings signed a non-binding term sheet to acquire 100% of Bowong Technology (Shenzhen) Co., Ltd. and its subsidiaries.
Equities Trading DOWN
- Virios Therapeutics, Inc. (NASDAQ:VIRI) shares dropped 46% to $0.19 after the company priced a $1.7 million pubic offering of 8.5 million shares of common stock at $0.20 per share.
- Shares of Akoustis Technologies, Inc. (NASDAQ:AKTS) were down 51% to $0.1732 after Qorvo won a jury verdict against the company in a trade secret misappropriation and patent infringement case.
- Jaguar Health, Inc (NASDAQ:JAGX) was down, falling 36% to $0.1660 after the company announced a 1-for-60 reverse stock split.
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Commodities
In commodity news, oil traded down 0.4% to $79.72 while gold traded up 0.4% at $2,426.30.
Silver traded up 2.9% to $32.15 on Monday, while copper rose 0.1% to $5.0545.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.18%, Germany's DAX rose 0.35% and France's CAC 40 climbed 0.35%. Spain's IBEX 35 Index rose 0.10%, while London's FTSE 100 rose 0.05%.
Spain's consumer confidence indicator climbed to 84.5 in April compared to 82.5 in March. The construction output in Italy rose by 3.8% year-over-year in March.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei gaining 0.73%, China's Composite Index climbing 0.54%, Hong Kong's Hang Seng Index gaining 0.42% and India's S&P BSE Sensex gaining 0.46%.
Hong Kong's unemployment rate came in unchanged at 3% in the three months ending April 2024. Malaysia's trade surplus shrank to MYR 7.7 billion in April from MYR 12.6 billion in the year-ago month. The People's Bank of China held key lending rates at the recent fixing.
Economics
No major economic reports will be released today.
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