Mid-Day Market Update: Crude Oil Rises 1.5%; Tarsus Pharmaceuticals Shares Slide

Midway through trading Monday, the Dow traded up 1.48% to 33,782.47 while the NASDAQ rose 0.74% to 14,134.01. The S&P also rose, gaining 1.17% to 4,215.39.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,541,990 cases with around 601,820 deaths. India confirmed a total of at least 29,935,220 cases and 388,130 deaths, while Brazil reported over 17,927,920 COVID-19 cases with 501,820 deaths. In total, there were at least 178,513,810 cases of COVID-19 worldwide with more than 3,866,730 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares surged by 2.4% on Monday. Meanwhile, top gainers in the sector included Torchlight Energy Resources, Inc. TRCH, up 32%, and Dynagas LNG Partners LP DLNG, up 13%.

In trading on Monday, consumer discretionary shares rose by just 0.5%.

Top Headline

CNH Industrial N.V. CNHI announced plans to acquire Raven Industries, Inc. RAVN for $58 per share in cash.


Equities Trading UP

Lydall, Inc. LDL shares shot up 83% to $60.77 after the company agreed to be acquired by Unifrax for $61.10 per share.

Shares of Alset EHome International Inc. AEI got a boost, shooting 36% to $6.69 after the company announced an agreement with Tesla for 20 Ehomes.

Raven Industries, Inc. RAVN shares were also up, gaining 49% to $57.67 after CNH Industrial announced it will acquire the company for $58 per share in cash.

Check out these big movers of the day

Equities Trading DOWN

AiHuiShou International Co. Ltd. RERE shares tumbled 19% to $14.01. AiHuiShou International, last week, priced its IPO at $14 per share.

Shares of Amarin Corporation plc AMRN were down 10% to $4.4950 after a report suggested the company was rejected in a Supreme Court bid to revive Vascepa patents.

Tarsus Pharmaceuticals, Inc. TARS was down, falling 14% to $29.84 after the company reported topline data from Phase 2b/3 Saturn-1 trial evaluating TP-03 (lotilaner ophthalmic solution, 0.25%) in patients with Demodex blepharitis.


In commodity news, oil traded up 1.5% to $72.69, while gold traded up 0.7% to $1,781.90.

Silver traded up 0.2% Monday to $26.025 while copper rose 0.6% to $4.1815.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.67%, the Spanish Ibex Index rose 0.31% and the German DAX 30 gained 0.98%. Meanwhile, the London’s FTSE 100 rose 0.6%, French CAC 40 rose 0.56% and Italy’s FTSE MIB gained 0.65 %.



The Chicago Fed National Activity Index rose to 0.29 in May versus a revised reading of -0.09 in April.

Posted In: Mid-Day Market UpdateEarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.