Crude Oil Surges 2.5%; Evofem Biosciences Shares Jump

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping over 50 points on Monday.

The Dow traded down 0.25% to 31,421.96 while the NASDAQ fell 0.71% to 11,524.79. The S&P also fell, dropping, 0.33% to 3,898.77.

Also check this: U.S. Durable Goods Orders And Other Macro Issues For Monday

Leading and Lagging Sectors

Energy shares jumped by 2.9% on Monday. Meanwhile, top gainers in the sector included Borr Drilling Limited BORR, up 12% and Ranger Oil Corporation ROCC up 11%.

In trading on Monday, communication services shares fell by 1%.

Top Headline

U.S durable goods orders rose 0.7% month-over-month in May, recording the third straight month of gain and exceeding market estimates of a 0.1% rise.

Equities Trading UP

NeuroSense Therapeutics Ltd. NRSN shares shot up 62% to $2.7250 after the company reported results from a stage III ALS Biomarker study evaluating PrimeC. Preliminary results showed levels of disease-related biomarkers in people with ALS were steady, in contrast to a statistically significant decline portrayed in biomarkers when PrimeC was administered.

Shares of Evofem Biosciences, Inc. EVFM got a boost, shooting 143% to $0.9023 amid the Supreme Court overturning Roe V Wade. Evofem's Phexxi vaginal gel is a contraceptive that can be applied zero to 60 minutes prior to each act of intercourse. Phexxis is a combination of lactic acid, citric acid and potassium bitartrate and is the first and only hormone-free, on-demand prescription contraceptive vaginal gel.

Acutus Medical, Inc. AFIB shares were also up, gaining 116% to $1.1609 after the company announced the commercial launch of its left-heart access products.

Equities Trading DOWN

Borqs Technologies, Inc. BRQS shares tumbled 24% to $2.1691 following effect of 1:16 reverse stock split.

Shares of Powerbridge Technologies Co., Ltd. PBTS were down 32% to $11.63.

Polestar Automotive Holding UK PLC PSNY was down, falling 11% to $11.63 amid post-SPAC merger volatility following the company's Friday debut as a public company.

Also check out: Nike, Jefferies + 3 Stocks To Watch Heading Into Monday


In commodity news, oil traded up 2.5% to $110.28, while gold traded down 0.2% to $1,826.00.

Silver traded up 0.2% to $21.17 on Monday while copper rose 0.4% to $3.7535.

Euro zone

European shares closed mixed today. The eurozone’s STOXX 600 rose 0.52%, London’s FTSE 100 rose 0.69% while Spain’s IBEX 35 Index fell 0.02%. The German DAX gained 0.52%, French CAC 40 fell 0.43% and Italy’s FTSE MIB Index fell 0.86%.


U.S durable goods orders rose 0.7% month-over-month in May, recording the third straight month of gain and exceeding market estimates of a 0.1% rise.

The pending home sales index rose to 99.90 in May from prior reading of 99.20.

Check out this: U.S. Stock Futures Higher Following Friday's Rally

Check out our premarket coverage here

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 88,794,280 cases with around 1,040,800 deaths. India confirmed a total of at least 43,407,040 cases and 525,020 deaths, while Brazil reported over 32,078,630 COVID-19 cases with 670,450 deaths. In total, there were at least 549,063,210 cases of COVID-19 worldwide with more than 6,351,060 deaths.

Posted In: Mid-Afternoon Market UpdateEarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarkets

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