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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Toward the end of trading Monday, the Dow traded up 0.62% to 28,431.07 while the NASDAQ rose 1.28% to 9,267.72. The S&P also rose, gaining 0.87% to 3,253.52.
Leading and Lagging Sectors
Material shares climbed 1.5% on Monday. Meanwhile, top gainers in the sector included Amyris, Inc. (NASDAQ:AMRS), up 14%, and Braskem S.A. (NYSE:BAK), up 7%.
In trading on Monday, energy shares fell 1.4%.
Top Headline
SYSCO Corporation (NYSE:SYY) reported better-than-expected earnings for its second quarter, while sales missed views.
SYSCO reported quarterly earnings of $0.85 per share, which beat the analyst consensus estimate of $0.84. The company reported quarterly sales of $15 billion, which missed the analyst consensus estimate of $15.1 billion.
Equities Trading UP
Artelo Biosciences, Inc. (NASDAQ:ARTL) shares shot up 34% to $2.71 after the company reported NCI grant of $4.2 million to Stony Brook University to advance FABP5 inhibitor cancer program.
Shares of Insmed Incorporated (NASDAQ:INSM) got a boost, shooting up 41% to $28.88 after the company announced its Phase 2 WILLOW study of INS1007 met both primary and key secondary endpoints.
Anavex Life Sciences Corp. (NASDAQ:AVXL) shares were also up, gaining 16% to $3.32 after the company was granted Fast Track designation by the FDA for its ANAVEX 2-73.
Equities Trading DOWN
NanoViricides, Inc. (NYSE:NNVC) shares tumbled 30% to $11.76. Investors who made money in coronavirus-related stocks were taking some profit Monday morning. Following a 40% rally on Friday and up nearly 400% since the middle of January, NanoViricides shares were down over 28% Monday.
Shares of Cleveland BioLabs, Inc. (NASDAQ:CBLI) were down 27% to $3.0809 after gaining 34.3% on Friday.
NortonLifeLock Inc. (NASDAQ:NLOK) was down, falling 39% to $17.20.
Commodities
In commodity news, oil traded down 1.4% to $50.84, while gold traded down 0.4% to $1,581.20.
Silver traded down 2% Monday to $17.645, while copper fell 0.3% to $2.5085.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 gained 0.25%, the Spanish Ibex Index rose 0.39%, while Italy’s FTSE MIB Index rose 0.96% Meanwhile, the German DAX gained 0.49%, and the French CAC 40 rose 0.45% while UK shares rose 0.55%.
Economics
The IHS Markit manuafacturing PMI rose to 51.9 in January, versus a preliminary reading of 51.7 and December’s reading of 52.4.
U.S. construction spending declined 0.2% in December, compared to revised 0.7% rise in November.
The ISM manufacturing PMI climbed to 50.9 in January, versus a reading of 47.8 in December.
Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 4:30 p.m. ET.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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