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Following the market opening Monday, the Dow traded down 0.06 percent to 18,075.52 while the NASDAQ climbed 0.05 percent to 5,213.00. The S&P also fell, dropping 0.09 percent to 2,124.72.
Leading and Lagging Sectors
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Monday morning, the healthcare sector proved to be a source of strength for the market. Leading the sector was strength from Exelixis, Inc. (NASDAQ: EXEL) and Anthera Pharmaceuticals Inc (NASDAQ: ANTH).
In trading on Monday, energy shares fell by 1.11 percent. Meanwhile, top losers in the sector included Linn Energy LLC (NASDAQ: LINE), down 8 percent, and Natural Resource Partners LP (NYSE: NRP), off 8 percent.
Top Headline
Morgan Stanley (NYSE: MS) reported better-than-expected results for its second quarter.
The New York-based bank posted a quarterly profit of $1.81 billion, or $0.85 per share, compared to $1.9 billion, or $0.92 per share, in the year-ago period. On an adjusted basis, Morgan Stanley earned $0.79 per share.
Its net revenue climbed to $9.74 billion from $8.61 billion, while adjusted revenue rose to $9.56 billion. Analysts were expecting earnings of $0.74 per share on revenue of $9.10 billion.
Equities Trading UP
Exelixis, Inc. (NASDAQ: EXEL) shares shot up 45 percent to $5.66 after the company announced positive top-line results from METEOR in which the study met the primary endpoint of significantly improving progress-free survival.
Vivint Solar Inc (NYSE: VSLR) shares were also up, gaining 46 percent to $15.83 after the company agreed to be acquired by Sunedison Inc (NASDAQ: SUNE) for $2.2 billion.
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Shares of Lennox International Inc. (NYSE: LII) got a boost, shooting up 9 percent to $117.69 on better-than-expected Q2 earnings.
Equities Trading DOWN
Cal-Maine Foods Inc (NASDAQ: CALM) shares tumbled 10 percent to $48.64 after the company reported downbeat Q4 results.
Shares of New Gold Inc. (USA) (NYSE: NGD) were down 7 percent to $2.30. New Gold reported that it has entered into a $175 million streaming agreement with RGLD Gold AG.
Silver Standard Resources Inc. (USA) (NASDAQ: SSRI) was down, falling 6 percent to $5.69. Silver futures fell 0.53 percent to trade at $14.76 an ounce.
Commodities
In commodity news, oil traded down 0.57 percent to $50.60, while gold traded down 2.05 percent to $1,108.70.
Silver traded down 0.87 percent Monday to $14.71, while copper fell 0.66 percent to $2.48.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 rose 0.51 percent, the Spanish Ibex Index surged 0.91 percent, while Italy’s FTSE MIB Index jumped 1.53 percent. Meanwhile, the German DAX rose 0.98 percent, and the French CAC 40 gained 0.71 percent while UK shares gained 0.21 percent.
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.