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Market Overview

Mid-Day Market Update: Crude Oil Down 4%; Shares Spike Higher


Midway through trading Monday, the Dow traded down 0.51% to 30,026.31 while the NASDAQ fell 0.89% to 12,642.15. The S&P also fell, dropping 1.08% to 3,669.44.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 17,847,630 cases with around 317,680 deaths. India confirmed a total of at least 10,055,560 confirmed cases and 145,810 deaths, while Brazil reported over 7,238,600 COVID-19 cases with 186,760 deaths. In total, there were at least 76,895,580 cases of COVID-19 worldwide with over 1,694,710 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Financial shares climbed 0.6% on Monday. Meanwhile, top gainers in the sector included Silvergate Capital Corporation (NYSE: SI), up 20%, and Elevate Credit, Inc. (NYSE: ELVT), up 17%.

In trading on Monday, energy shares dipped 2.3%.

Top Headline

FactSet Research Systems Inc. (NYSE: FDS) reported stronger-than-expected earnings for its first quarter.

FactSet Research posted quarterly earnings of $2.88 per share, beating analysts’ estimates of $2.75 per share. The company’s quarterly sales came in at $388.21 million, versus expectations of $387.36 million.


Equities Trading UP Limited (NYSE: WBAI) shares shot up 76% to $4.74 after the company announced a $23 million investment from Good Luck Information Technology. The company appointed Mr. Xianfeng Yang as CEO and Mr. Bo Yu as COO.

Shares of EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG) got a boost, shooting 48% to $5.30 after the company announced the acquisition of privately-held Panoptes Pharma, which is developing a small molecule for the treatment of severe eye diseases with a high unmet medical need.

NantKwest, Inc. (NASDAQ: NK) shares were also up, gaining 40% to $14.36. ImmunityBio and NantKwest agreed to Merge, creating a leading immunotherapy and cell therapy company.

Equities Trading DOWN

Optical Cable Corporation (NASDAQ: OCC) shares tumbled 15% to $2.52 after the company posted a loss for its fourth quarter.

Shares of FibroGen, Inc. (NASDAQ: FGEN) were down 14% to $37.94. FibroGen, on Dec. 18, disclosed that the FDA has extended review period of new drug application for roxadustat for the treatment of anemia of chronic kidney disease by three months.

uniQure N.V.. (NASDAQ: QURE) was down, falling 16% to $38.62 after the gene therapy company announced a setback to its clinical study. uniQure said the FDA has placed its Hemophilia B gene therapy program, including the late-stage HOPE-B study, on clinical hold.


In commodity news, oil traded down 4.1% to $47.09, while gold traded down 0.3% to $1,884.10.

Silver traded up 1.3% Monday to $26.375 while copper fell 1.9% to $3.5650.

Euro zone

European shares were lower today following new virus strains in the U.K. and deadlock in Brexit trade talks. The eurozone’s STOXX 600 fell 2.22%, the Spanish Ibex Index fell 2.78%, while Italy’s FTSE MIB Index declined 2.43%. Meanwhile, the German DAX 30 declined 2.63%, French CAC 40 declined 2.34% and London’s FTSE 100 fell 1.59%.


The Chicago Fed National Activity Index declined to 0.27 in November versus a revised reading of 1.01 in October.

The Treasury will auction 20-year bonds at 1:00 p.m. ET.


Related Articles (EYEG + ELVT)

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