Crude Oil Surges Over 1%; Amprius Technologies Shares Plunge
U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining around 0.3% on Monday.
The Dow traded down 0.01% to 39,509.81 while the NASDAQ rose 0.26% to 16,382.89. The S&P 500 also rose, gaining, 0.02% to 5,223.64.
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Leading and Lagging Sectors
Information technology shares rose by 0.5% on Monday.
In trading on Monday, communication services shares fell by 1.3%.
Top Headline
GameStop Corporation (NYSE:GME) stock rose sharply on Monday amid possible retail investor interest following a social media post by Roaring Kitty.
Shares of struggling video game retailer GameStop surged around 60% in May from $10.91 on May 1 to $17.46 today but remain far from the peak of around $81.2 in 2021. "Roaring Kitty," a.k.a Keith Gill, a social media persona whose online posts reportedly sparked a trading frenzy in the so-called ‘meme stock' in early 2021, returned on X.com (formerly Twitter) after three years.
Equities Trading UP
- GameStop Corp. (NYSE:GME) shares shot up 64% to $28.70 amid possible retail investor interest following a social media post by Roaring Kitty.
- Shares of CareCloud, Inc. (NASDAQ:CCLD) got a boost, surging 78% to $2.2413 after the company announced it retained an investment bank to examine and evaluate the terms of its Series A Preferred Stock and to make recommendations to the board that may be beneficial to the company and its shareholders.
- AC Immune SA (NASDAQ:ACIU) shares were also up, gaining 29% to $2.9711 after the company reported first-quarter financial results. Also, the company announced it signed an exclusive option and license agreement with Takeda for active immunotherapy targeting amyloid beta for Alzheimer’s disease.
Equities Trading DOWN
- Akoustis Technologies, Inc. (NASDAQ:AKTS) shares dropped 19% to $0.46 following weak quarterly results.
- Shares of Seritage Growth Properties (NYSE:SRG) were down 33% to $6.24 after the company reported first-quarter financial results. The company said it is negotiating an agreement for the sale of four assets for gross proceeds of $79.1 million.
- Amprius Technologies, Inc. (NASDAQ:AMPX) was down, falling 30% to $1.3872 after the company announced a temporary offer allowing public and private warrants to be exercised at a reduced price.
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Commodities
In commodity news, oil traded up 1.6% to $79.47 while gold traded down 1.1% at $2,348.70.
Silver traded up 0.1% to $28.54 on Monday, while copper rose 1.6% to $4.7390.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.04%, Germany's DAX fell 0.16% and France's CAC 40 slipped 0.13%. Spain's IBEX 35 Index rose 0.19%, while London's FTSE 100 fell 0.21%.
The BNP Paribas Real Estate Construction PMI in Ireland rose to 53.2 in April compared to previous month's reading of 51.6.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.13%, China's Composite Index falling 0.21%, Hong Kong's Hang Seng Index gaining 0.80% and India's S&P BSE Sensex gaining 0.15%.
China’s producer prices fell by 2.5% year-over-year in April compared to a 2.8% decline in March, while annual inflation rate increased to 0.3% in April. China’s vehicle sales climbed by 9.3% year-over-year to 2.36 million in April.
Economics
No major economic reports are scheduled for release today.
