S&P 500 Surges 1%; Tyson Foods Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the S&P 500 gaining around 1% on Monday.

Following the market opening Monday, the Dow traded up 0.62% to 47,278.92 while the NASDAQ surged 1.71% to 23,397.65. The S&P 500 also rose, gaining, 1.05% to 6,799.20.

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Leading and Lagging Sectors

Information technology shares jumped by 2.1% on Monday.

In trading on Monday, consumer staples stocks fell by 0.5%.

Top Headline

Tyson Foods, Inc. (NYSE:TSN) reported better-than-expected fourth-quarter earnings.

Tyson Foods reported quarterly earnings of $1.15 per share which beat the analyst consensus estimate of 83 cents per share. The company reported quarterly sales of $13.860 billion which missed the analyst consensus estimate of $13.969 billion.

Equities Trading UP

Galecto Inc (NASDAQ:GLTO) shares shot up 317% to $20.64 after the company announced the acquisition of Damora Therapeutics.
Shares of Movano Inc (NASDAQ:MOVE) got a boost, surging 210% to $14.81. Movano and Corvex announced a merger agreement.
Cogent Biosciences Inc (NASDAQ:COGT) shares were also up, gaining 116% to $32.00 after its Phase 3 PEAK study showed a median progression-free survival of 16.5 months for bezuclastinib plus sunitinib. The company plans to submit NDA to FDA for bezuclastinib in intolerant gastrointestinal stromal tumors.

Equities Trading DOWN

Lazydays Holdings Inc (NASDAQ:GORV) shares dropped 43% to $0.92 after the company announced plans to delist from the Nasdaq.
Shares of CleanCore Solutions Inc (NYSE:ZONE) were down 41% to $0.50. CleanCore announced that it is not aware of any undisclosed material developments regarding recent volatility.
Energys Group Ltd (NASDAQ:ENGS) was down, falling 35% to $1.17.

Commodities

In commodity news, oil traded up 0.5% to $60.02 while gold traded up 2.4% at $4,104.70.

Silver traded up 3.4% to $49.775 on Monday, while copper rose 1.8% to $5.0440.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.5%, while Spain's IBEX 35 Index gained 1.6%. London's FTSE 100 rose 1%, Germany's DAX 40 gained 1.8% and France's CAC 40 climbed 1.4% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 1.26%, Hong Kong's Hang Seng surging 1.55%, China's Shanghai Composite rising 0.53% and India's BSE Sensex rising 0.38%.

Economics

No major economic reports are scheduled for release today.

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