US Stocks Mixed; Dow Rises Over 100 Points
U.S. stocks traded mixed this morning, with the Dow Jones gaining more than 100 points on Monday.
Following the market opening Monday, the Dow traded up 0.40% to 29,412.57 while the NASDAQ fell 0.40% to 10,609.77. The S&P 500 also rose, gaining, 0.03% to 3,640.58.
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Leading and Lagging Sectors
Industrials shares jumped by 1.2% on Monday. Leading the sector was strength from NeoVolta Inc. (NASDAQ:NEOV) and CECO Environmental Corp. (NASDAQ:CECE).
In trading on Monday, information technology shares fell by 1%.
Top Headline
The FDA has approved scPharmaceuticals Inc's (NASDAQ:SCPH) Furoscix (furosemide injection), a proprietary formulation of furosemide delivered via an On-Body Infusor for congestion due to fluid overload in heart failure patients.
Equities Trading UP
- SOBR Safe, Inc. (NASDAQ:SOBR) shares shot up 43% to $3.5705 after the company announced a relationship with a distributor with ties to air, rail and shipping industries.
- Shares of Immunic, Inc. (NASDAQ:IMUX) got a boost, shooting 36% to $5.39 after the company announced $60 million oversubscribed private placement equity financing.
- M-tron Industries, Inc. (NYSE:MPTI) shares were also up, gaining 10% to $16.72 after surging 10% on Friday. M-tron Industries completed its earlier announced separation from The LGL Group, Inc.
Equities Trading DOWN
- ACM Research, Inc. (NASDAQ:ACMR) shares tumbled 22% to $9.54 amid new US regulation tightening semiconductor exports to China.
- Shares of Innovative Eyewear, Inc. (NASDAQ:LUCY) were down 21% to $2.09 after jumping 61% on Friday. The company recently released its October investor presentation.
- Five9, Inc. (NASDAQ:FIVN) was down, falling 17% to $64.20 after the company's CEO resigned and accepted a position at a pre-IPO company.
Commodities
In commodity news, oil traded up 0.6% to $93.22, while gold traded down 1.7% at $1,681.10.
Silver traded down 2.6% to $19.735 on Monday while copper rose 1.8% to $3.4475.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index fell 0.3%. The German DAX gained 0.6%, French CAC 40 fell 0.1% and Italy’s FTSE MIB Index rose 0.1%.
Economics
There were no major US economic releases Monday
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,555,070 cases with around 1,087,880 deaths. India confirmed a total of at least 44,614,430 cases and 528,810 deaths, while France reported over 35,866,250 COVID-19 cases with 155,420 deaths. In total, there were at least 626,737,670 cases of COVID-19 worldwide with more than 6,561,270 deaths.