US Stocks Open Higher; Dow Surges 500 Points

U.S. stocks traded higher this morning, with the Dow Jones gaining around 500 points on Monday.

Following the market opening Monday, the Dow traded up 1.70% to 30,137.28 while the NASDAQ rose 3.11% to 10,642.80. The S&P 500 also rose, gaining, 2.48% to 3,672.05.

Also check this: Market Volatility Declines Following US Inflation Data

Leading and Lagging Sectors

Real estate shares climbed 3.4% on Monday. Leading the sector was strength from Seritage Growth Properties SRG and Doma Holdings Inc. DOMA.

In trading on Monday, consumer staples shares rose by just 1%.

Top Headline


The NY Empire State Manufacturing Index fell 7.6 points to -9.1 in October, versus market estimates of -4.0.


Equities Trading UP

Inpixon INPX shares shot up 54% to $7.36 after gaining 10% on Friday. Last Tuesday the company announced new purchase orders.

Shares of Archaea Energy Inc. LFG got a boost, shooting 52% to $25.72 after the company announced it will be acquired by BP for approximately $4.1 billion.

Roblox Corporation RBLX shares were also up, gaining 17% to $41.65 after the company reported September 2022 key metrics; daily active users were 57.8 million, up 23% year-over-year, and estimated bookings were between $212 million and $219 million, up 11% to 15% year-over-year.

Equities Trading DOWN

NGM Biopharmaceuticals, Inc. NGM shares tumbled 73% to $3.1050 after the company announced topline efficacy and safety results from its CATALINA Phase 2 trial of NGM621 for geographic atrophy (GA) secondary to age-related macular degeneration (AMD). Over 52 weeks of treatment, NGM621 administered every four weeks (Q4W) (n=108) and every eight weeks (Q8W) (n=104) demonstrated a GA lesion area reduction of 6.3% and 6.5%, respectively, compared to sham (n=106), which did not reach statistical significance in either arm.

Shares of Intelligent Living Application Group Inc. ILAG were down 58% to $2.7608 after gaining 24% on Friday.

Minerva Neurosciences, Inc. NERV was down, falling 58% to $5.67 after the company received a refusal to file letter from the FDA regarding its marketing application for roluperidone for negative symptoms in patients with schizophrenia.

Also check out: Fear Among US Investors Increases After Dow Dips 400 Points


In commodity news, oil traded up 1% to $86.43, while gold traded up 1.3% at $1,670.30.

Silver traded up 3.6% to $18.715 on Monday while copper rose 0.6% to $3.4430.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 2%, London’s FTSE 100 rose 1.2% while Spain’s IBEX 35 Index jumped 2.4%. The German DAX climbed 1.9%, French CAC 40 rose 2% and Italy’s FTSE MIB Index gained 1.9%.

The annual inflation rate in Italy accelerated to 8.9% in September, the highest level in around 37 years, compared to 8.4% in the prior month.



The NY Empire State Manufacturing Index fell 7.6 points to -9.1 in October, versus market estimates of -4.0.

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

Check out this: Ethereum Surpasses This Major Level; Here Are The Top Crypto Movers For Monday

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,850,120 cases with around 1,090,530 deaths. India confirmed a total of at least 44,630,880 cases and 528,900 deaths, while France reported over 36,258,600 COVID-19 cases with 155,810 deaths. In total, there were at least 630,019,300 cases of COVID-19 worldwide with more than 6,571,720 deaths.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Morning Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!