U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 200 points on Monday.
The Dow traded up 0.52% to 42,333.84 while the NASDAQ rose 0.43% to 18,598.02. The S&P 500 also rose, gaining, 0.31% to 5,826.12.
Leading and Lagging Sectors
Utilities shares rose by 1.1% on Monday.
In trading on Monday, energy shares fell by 1%.
Top Headline
ON Semiconductor Corp (NASDAQ:ON) posted better-than-expected earnings for the third quarter on Monday.
The company posted a revenue decline of 19.2% year-on-year to $1.76 billion, beating the analyst consensus estimate of $1.75 billion. The adjusted EPS of 99 cents beat the analyst consensus estimate of 97 cents.
Equities Trading UP
- Healthcare Triangle, Inc. (NASDAQ:HCTI) shares shot up 159% to $1.50 after the company disclosed in a filing that it acquired the business, assets, and operations relating to cloud and technology domain of Securekloud Technologies.
- Shares of Autonomix Medical, Inc. (NASDAQ:AMIX) got a boost, surging 78% to $13.73 after the company reported preliminary results from its clinical trial of RF Ablation technology where 100% of its responder group was able to eliminate opioid use and reduce pain scores.
- Evoke Pharma, Inc. (NASDAQ:EVOK) shares were also up, gaining 82% to $9.34 after the company announced the presentation of GLP-1 data for users with diabetic gastoparesis using GIMOTI and showed statistically significant improvements.
Equities Trading DOWN
- Koninklijke Philips N.V. (NYSE:PHG) shares dropped 17% to $26.16 after the company reported third-quarter EPS and sales below estimates and revised its 2024 outlook due to weak demand in China.
- Shares of Borr Drilling Limited (NYSE:BORR) were down 11% to $4.1987. The stock may be moving on continued weakness following Friday's reported preliminary third-quarter financial results.
- CEMEX, S.A.B. de C.V. (NYSE:CX) was down, falling 10% to $5.36 following weak quarterly results.
Commodities
In commodity news, oil traded down 5.4% to $67.88 while gold traded up 0.1% at $2,755.50.
Silver traded up 0.3% to $33.890 on Monday, while copper fell 0.1% to $4.3660.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.10%, Germany's DAX fell 0.02% and France's CAC 40 rose 0.39%. Spain's IBEX 35 Index rose 0.37%, while London's FTSE 100 rose 0.16%.
Retail sales in Spain rose by 4.1% year-over-year in September, while retail sales volumes in the UK fell by 6% in October following a 4% increase in September.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 1.82%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite Index gaining 0.68% and India's BSE Sensex surging 0.76%.
Hong Kong's trade deficit shrank to $53.2 billion in September from $64.6 billion in the year-ago month.
Economics
The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas rose to -3 in October compared to a reading of -9 in the earlier month.
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