Gold Falls Sharply; Matterport Shares Spike Higher
U.S. stocks traded higher midway through trading, with the Dow Jones gaining around 100 points on Monday.
The Dow traded up 0.24% to 38,078.26 while the NASDAQ rose 0.25% to 15,320.07. The S&P 500 also rose, gaining, 0.29% to 4,981.79.
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Leading and Lagging Sectors
- Industrials shares climbed by 0.6% on Monday.
- In trading on Monday, communication services shares fell by 0.4%.
Top Headline
Albertsons Companies Inc (NYSE:ACI) reported upbeat earnings for its fourth quarter.
The company posted fourth-quarter FY23 sales growth of 0.4% year-on-year to $18.34 billion, missing the analyst consensus estimate of $18.47 billion. Adjusted EPS of 54 cents beat the analyst consensus estimate of 52 cents.
Albertsons and Kroger Co (NYSE:KR) have amended their definitive agreement with C&S Wholesale Grocers, LLC (C&S) for the sale of assets regarding the merger announced on October 14, 2022..
Equities Trading UP
- Moolec Science SA (NASDAQ:MLEC) shares shot up 76% to $2.4297 after the company announced that it received USDA approval for plant-grown animal proteins.
- Shares of NewGenIvf Group Limited (NASDAQ:NIVF) got a boost, surging 92% to $1.42 after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.
- Matterport, Inc. (NASDAQ:MTTR) shares were also up, gaining 174% to $4.7601 after the company announced a deal to be acquired by online real estate marketplace provider CoStar Group.
Equities Trading DOWN
- Vaxxinity, Inc. (NASDAQ:VAXX) shares dropped 47% to $0.2501 after the company announced its intention to voluntarily delist and deregister its Class A common stock.
- Shares of Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) were down 37% to $1.3197 after the company announced that it began wind-down activities in its Phase 2b “ASCEND-NASH Trial.
- Warrantee Inc. (NASDAQ:WRNT) was down, falling 29% to $0.2999 after the company announced a receipt of a Nasdaq delisting determination and a plan to appeal.
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Commodities
In commodity news, oil traded down 0.1% to $83.02 while gold traded down 2.7% at $2,349.50.
Silver traded down 4.6% to $27.52 on Monday, while copper fell 0.1% to $4.4910.
Euro zone<
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.63%, London's FTSE 100 rose 1.68% while Spain's IBEX 35 Index climbed 1.34% The German DAX gained 0.74% French CAC 40 rose 0.27% while Italy's FTSE MIB Index fell 0.73%.
Eurozone's government deficit to GDP ratio fell to 3.6% in 2023 compared to a revised 3.7% in the prior year.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 1%, Hong Kong's Hang Seng Index gaining 1.77%, China's Shanghai Composite falling 0.67% and India's S&P BSE Sensex gaining 0.77%.
The People’s Bank of China maintained its key lending rates at the April fixing.
Economics
The Chicago Fed National Activity Index increased to +0.15 in March versus a revised reading of +0.09 in the previous month, topping market estimates of +0.09.
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