Dow Rises Over 100 Points; Revelation Biosciences Shares Spike Higher

U.S. stocks traded mostly higher midway through trading on Monday.

The Dow traded up 0.35% to 32,010.20 while the NASDAQ fell 0.29% to 11,800.20. The S&P also rose, gaining, 0.22% to 3,970.50.

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Leading and Lagging Sectors

Energy shares rose 3.1% on Monday. Meanwhile, top gainers in the sector included Borr Drilling Limited BORR, up 11% and Uranium Energy Corp. UEC up 7%.

In trading on Monday, consumer discretionary shares fell 0.8%.

Top Headline

The Chicago Fed National Activity Index came in unchanged at -0.19 in June versus a revised reading of -0.19 in the previous month.


Equities Trading UP

Revelation Biosciences, Inc. REVB shares shot up 85% to $1.20 after the company announced that primary endpoint was met in study for its treatment of allergic rhinitis.

Shares of Infrastructure and Energy Alternatives, Inc. IEA got a boost, shooting 30% to $13.52 after the company announced it will be acquired by MasTec for $14 per share in cash and stock.

Zymergen Inc. ZY shares were also up, gaining 22% to $2.44 after the company announced it will be acquired by Ginkgo Bioworks in an all-stock transaction valued at an approximately $300 million.

Equities Trading DOWN

AMTD Digital Inc. HKD shares tumbled 39% to $41.48 amid continued post-IPO volatility.

Shares of ToughBuilt Industries, Inc. TBLT were down 27% to $5.84 after the company announced a $20 million private placement priced at a premium to market under Nasdaq rules.

Enveric Biosciences, Inc. ENVB was down, falling 26% to $7.16 after the company announced an $8 million registered direct offering and private placement.

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In commodity news, oil traded up 1.6% to $96.25, while gold traded down 0.7% to $1,715.40.

Silver traded down 1.8% to $18.285 on Monday while copper rose 0.3% to $3.36.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.04%, London’s FTSE 100 rose 0.31% while Spain’s IBEX 35 Index rose 0.39%. The German DAX dropped 0.44%, French CAC 40 rose 0.16% and Italy’s FTSE MIB Index rose 0.54%.

UK’s CBI's quarterly gauge of manufacturing optimism rose to -21 in the third quarter from -34 in the prior three-month period. The Ifo Business Climate indicator for Germany declined to 88.6 in July, recording the weakest in more than two years.


The Chicago Fed National Activity Index came in unchanged at -0.19 in June versus a revised reading of -0.19 in the previous month.

The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas fell to -22.6 in July from -17.7 in the previous month.

The Treasury will auction 2-year notes at 1:00 p.m. ET.

Check out this: These Analysts Lower Price Targets On Snap After Weak Q2 Earnings

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 92,194,890 cases with around 1,051,990 deaths. India confirmed a total of at least 43,905,620 cases and 526,070 deaths, while Brazil reported over 33,591,350 COVID-19 cases with 677,020 deaths. In total, there were at least 575,405,520 cases of COVID-19 worldwide with more than 6,403,450 deaths.

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