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Toward the end of trading Monday, the Dow traded down 0.11% to 24305.58 while the NASDAQ rose 1.17% to 9228. The S&P also rose, gaining 0.27% to 2,937.69.
The U.S. is the new epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 1,329,790 coronavirus cases with around 79,520 deaths. Spain confirmed a total of over 224,350 coronavirus cases with 26,621 deaths, while Russia reported a total of at least 221,340 confirmed cases and 2,009 deaths. In total, there were at least 4,122,170 cases of COVID-19 worldwide with over 283,000 deaths, according to data compiled by Johns Hopkins University.
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Leading and Lagging Sectors
Health care shares climbed by 1.5% on Monday. Meanwhile, top gainers in the sector included MyoKardia, Inc. (NASDAQ:MYOK), up 64%, and Cytokinetics, Incorporated (NASDAQ:CYTK), up 34%.
In trading on Monday, materials shares fell 1.5%.
Top Headline
Cardinal Health, Inc. (NYSE:CAH) reported stronger-than-expected results for its third quarter on Monday.
Cardinal Health posted Q3 adjusted earnings of $1.62 per share, beating analysts’ estimates of $1.43 per share. The company’s sales came in at $39.20 billion, exceeding the consensus view of $36.95 billion.
Equities Trading UP
Cellect Biotechnology Ltd. (NASDAQ:APOP) shares shot up 74% to $4.13 after the company highlighted the publication of an article in the Bone Marrow Transplantation journal. The company noted it has initiated a study in adults undergoing stem cell transplant.
Shares of MyoKardia, Inc. (NASDAQ:MYOK) got a boost, shooting 64% to $100.01 after the company announced the primary and secondary endpoints for its Phase 3 EXPLORER clinical trials of Mavacamten were met.
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Amneal Pharmaceuticals, Inc. (NYSE:AMRX) shares were also up, gaining 28% to $4.548 after the company reported upbeat Q1 results and reaffirmed FY20 guidance.
Equities Trading DOWN
Recro Pharma, Inc. (NASDAQ:REPH) shares tumbled 40% to $5.05 after the company reported worse-than-expected Q1 results.
Shares of ArcelorMittal (NYSE:MT) were down 18% to $9.40 after the company reported a proposed common stock and mandatorily convertible subordinated notes offerings for $2 billion in total.
Scorpio Bulkers Inc. (NYSE:SALT) was down, falling 15% to $17.10 after the company reported Q1 results.
Commodities
In commodity news, oil traded down 2.3% to $24.17, while gold traded down 1% to $1,697.60.
Silver traded down 0.8% Monday to $15.65, while copper fell 1.1% to $2.381.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 slipped 0.4%, the Spanish Ibex Index fell 1.63%, while Italy’s FTSE MIB Index fell 0.33%. Meanwhile, the German DAX dropped 0.73%, and the French CAC 40 fell 1.31% while UK shares rose 0.06%.
Economics
On the economics calendar Monday, there is no important data due out.
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.