Midway through trading Monday, the Dow traded up 0.39 percent to 20,977.17 while the NASDAQ gained 0.33 percent to 6,141.34. The S&P also rose, gaining 0.44 percent to 2,401.45.
Leading and Lagging Sectors
Energy sector was the top gainer in the US market on Monday. Top gainers in the sector included Superior Energy Services, Inc. SPN, Whiting Petroleum Corp WLL, and Kosmos Energy Ltd KOS.
In trading on Monday, technology shares rose by just 0.2 percent. Meanwhile, top losers in the sector included magicJack VocalTec Ltd CALL, down 5 percent, and GSI Technology, Inc. GSIT, down 5 percent.
Top Headline
Thermo Fisher Scientific Inc. TMO announced plans to acquire Patheon NV PTHN for $35 per share in cash.
The deal is projected to complete by the end of 2017.
Equities Trading UP
Cellular Biomedicine Group Inc CBMG shares shot up 60 percent to $8.50 after the company reported the addition of a second clinical site in expansion of chimeric antigen Phase 1 trial.
Shares of Patheon NV PTHN got a boost, shooting up 33 percent to $34.65 after Thermo Fisher Scientific Inc. TMO announced plans to acquire the company for $35 per share in cash.
Sorl Auto Parts, Inc. SORL shares were also up, gaining 29 percent to $5.85 after the company reported strong Q1 results and raised its guidance.
Equities Trading DOWN
Forterra Inc FRTA shares dropped 24 percent to $14.96. Forterra posted a Q1 loss of $0.35 per share on sales of $338.3 million.
Shares of Westmoreland Coal Company WLB were down 20 percent to $7.89. Westmoreland reported a Q1 loss of $1.98 per share on revenue of $339 million.
One Horizon Group Inc OHGI was down, falling around 18 percent to $1.02. One Horizon Group reported a Q1 loss of $0.21 per share on revenue of $373,000.
Commodities
In commodity news, oil traded up 3.32 percent to $49.43 while gold traded up 0.29 percent to $1,231.20.
Silver traded up 1.48 percent Monday to $16.645, while copper rose 0.69 percent to $2.5415.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 rose 0.09 percent, the Spanish Ibex Index rose 0.56 percent, while Italy’s FTSE MIB Index climbed 0.60 percent. Meanwhile the German DAX climbed 0.29 percent, and the French CAC 40 surged 0.22 percent while U.K. shares rose 0.26 percent.
Economics
The Empire State manufacturing index dropped to negative 1 in May, compared to positive 5.2 in April. However, economists were projecting a reading of 7 for the month.
The NAHB housing market index increased 2 points to a reading of 70 for May. Economists expected a reading of 68 for the month.
The Treasury International Capital data for March is schedule for release at 4:00 p.m. ET.
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