Mid-Afternoon Market Update: Dow Surges Over 200 Points; Microbot Medical Shares Spike Higher

Toward the end of trading Monday, the Dow traded up 0.64% to 36,181.37 while the NASDAQ rose 1.19% to 15,838.88. The S&P also rose, gaining 1.07% to 4,776.31.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 53,222,420 cases with around 837,850 deaths. India confirmed a total of at least 34,793,330 cases and 479,990 deaths, while Brazil reported over 22,239,430 COVID-19 cases with 618,480 deaths. In total, there were at least 280,391,180 cases of COVID-19 worldwide with more than 5,418,560 deaths.

Leading and Lagging Sectors

Information technology shares climbed 1.7% on Monday. Meanwhile, top gainers in the sector included American Virtual Cloud Technologies, Inc. AVCT, up 24% and Soluna Holdings, Inc. SLNH up 11%.

In trading on Monday, utilities shares rose by just 0.2%.

Top Headline

News Corp NWS agreed to acquire the Base Chemicals business for $295 million cash from S&P Global Inc SPGI and IHS Markit Ltd INFO.

Equities Trading UP

Microbot Medical Inc. MBOT shares shot up 48% to $8.00 after the company announced a strategic collaboration with Stryker Corporation to develop the LIBERTY robotic system for neurovascular applications.

Shares of PyroGenesis Canada Inc. PYR got a boost, shooting 90% to $4.7947.

CPI Aerostructures, Inc. CVU shares were also up, gaining 11% to $2.52 after the company swung to a profit in the first quarter.

Check out these big movers of the day

Equities Trading DOWN

BridgeBio Pharma, Inc. BBIO shares tumbled 70% to $12.02 after the company's phase 3 trial to treat symptomatic transthyretin amyloid cardiomyopathy did not achieve its primary endpoint.

Shares of BiondVax Pharmaceuticals Ltd. BVXV were down 16% to $2.34 after the company priced an offering of roughly 3.81 million ADSs at $2.36 per ADS.

TRACON Pharmaceuticals, Inc. TCON was down, falling 21% to $2.8661. The company announced results from the Independent Data Monitoring Committee review of interim safety and efficacy data from the ongoing ENVASARC pivotal trial.


In commodity news, oil traded up 2.6% to $75.72, while gold traded down 0.1% to $1,810.10.

Silver traded up 0.5% Monday to $23.045 while copper rose 2.2% to $4.4875.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.62%, the Spanish Ibex Index surged 0.68% and the German DAX 40 gained 0.50%. Meanwhile, the French CAC 40 climbed 0.76% and Italy’s FTSE MIB gained 0.80%.



The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas dropped to 8.1 in December from 11.8 a month ago.

Check out the full economic calendar here

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