US Stocks Mixed; Dow Jumps 200 Points

US Stocks Mixed; Dow Jumps 200 Points

U.S. stocks traded mixed this morning, with the Dow Jones surging around 200 points on Monday.

Following the market opening Monday, the Dow traded up 0.66% to 31,286.16 while the NASDAQ fell 0.93% to 10,759.13. The S&P 500 also rose, gaining, 0.10% to 3,756.64.

Also check this: Market Volatility Decreases As Dow Jumps More Than 700 Points


Leading and Lagging Sectors


Health care shares climbed 1.2% on Monday. Leading the sector was strength from Vaxcyte, Inc. PCVX and Myovant Sciences Ltd. MYOV.


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


Top Headline

 

The S&P Global manufacturing PMI dropped to 49.9 in October from 52 in September, down from market estimates of 51. US services PMI fell to 46.6 in October from 49.3 in the prior month.

 

Equities Trading UP

 

  • Vaxcyte, Inc. PCVX shares shot up 70% to $35.00 after the company announced positive topline results from the Phase 1/2 clinical proof-of-concept study evaluating the safety, tolerability and immunogenicity of VAX-24.
  • Shares of Enservco Corporation ENSV got a boost, shooting 20% to $2.43. The company, last week, posted a profit for the first quarter.
  • Scholastic Corporation SCHL shares were also up, gaining 15% to $38.68 after the company announced an up to $75 million buyback through a modified "Dutch Auction" tender offer.


Equities Trading DOWN

  • Tricida, Inc. TCDA shares tumbled 94% to $0.6115 after the company announced its VALOR-CKD trial did not meet its primary endpoint.
  • Shares of Huadi International Group Co., Ltd. HUDI were down 36% to $37.68 after surging over 89% on Friday.
  • Missfresh Limited MF was down, falling 33% to $1.67 after gaining around 58% on Friday.


Also check out: Moderna, Amazon, Tesla, And Other Big Gainers From Friday


Commodities

In commodity news, oil traded up 0.3% to $85.29, while gold traded down 0.3% at $1,652.20.


Silver traded down 0.1% to $19.055 on Monday while copper fell 1% to $3.4395.


Euro zone


European shares were higher today. The eurozone’s STOXX 600 gained 1.3%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index rose 1.9%. The German DAX gained 1.4%, French CAC 40 gained 1.6% and Italy’s FTSE MIB Index gained 2%.

UK’s manufacturing PMI declined to 45.8 in October from 48.4 a month ago. The S&P Global Eurozone manufacturing PMI dropped to 46.6 in October from 48.4 in September, while services PMI fell to 48.2 from 48.8. The S&P Global Composite PMI in Germany fell to 44.1 in October from 45.7 in the previous month, while French Composite PMI dropped to 50 in October from 51.2 in September.

 

Economics


The Chicago Fed National Activity Index came in unchanged at +0.10 in September, compared to the prior month's revised reading.


The S&P Global manufacturing PMI dropped to 49.9 in October from 52 in September, down from market estimates of 51. US services PMI fell to 46.6 in October from 49.3 in the prior month.


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

Check out this: Investor Sentiment Improves Ahead Of Earnings Results


COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 99,087,540 cases with around 1,092,940 deaths. India confirmed a total of at least 44,644,070 cases and 528,970 deaths, while France reported over 36,599,820 COVID-19 cases with 156,330 deaths. In total, there were at least 632,978,010 cases of COVID-19 worldwide with more than 6,583,160 deaths.

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