Dow Surges Over 250 Points; Weber Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining over 250 points on Monday

The Dow traded up 0.80% to 33,745.43 while the NASDAQ rose 0.42% to 11,050.89. The S&P 500 also rose, gaining, 0.63% to 3,959.03.

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Leading and Lagging Sectors

Energy shares rose by 1.7% on Monday. Meanwhile, top gainers in the sector included Euronav NV EURN, up 12%, and Frontline Ltd. FRO, up 11%.

In trading on Monday, communication services shares fell by 0.4%.

Top Headline


Coupa Software Inc COUP announced it will be acquired by Thoma Bravo for $8 billion. Coupa also reported its third-quarter financial results.

Coupa entered into a definitive agreement to be acquired by Thoma Bravo in an all-cash transaction with an enterprise value of $8 billion. Under the terms of the agreement, Coupa shareholders will receive $81 per share in cash.


Equities Trading UP


  • Aptevo Therapeutics Inc. APVO shares shot up 51% to $5.17 after the company announced that APVO436, in combination with venetoclax and azacitidine, achieved a 100% clinical benefit rate in venetoclax treatment naïve AML patients.
  • Shares of Harpoon Therapeutics, Inc. HARP got a boost, shooting 87% to $0.4661 after the company announced it presented updated interim results at ASH 2022 for novel T cell engager HPN217 in relapsed/refractory multiple myeloma.
  • Weber Inc. WEBR shares were also up, gaining 23% to $8.01 after the company entered an agreement to be taken private by BDT Capital Partners for $8.05 per share.


Equities Trading DOWN

  • Adicet Bio, Inc. ACET shares tumbled 38% to $10.79 after the company announced safety and efficacy data from its ongoing Phase 1 study of ADI-001 for the potential treatment of relapsed or refractory B-cell NHL.
  • Shares of Affimed N.V.. AFMD were down 38% to $1.2750 after the company announced topline data from its Phase 2 REDIRECT study of AFM13 monotherapy in patients with advanced-stage relapsed/refractory peripheral T cell lymphoma.
  • Ambrx Biopharma Inc. AMAM was down, falling 32% to $3.1101. Ambrx Biopharma shares jumped over 1,007% on Friday after the company announced preliminary Phase 2 results from its ACE-Breast-03 study showing a 57.1% overall response rate.

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In commodity news, oil traded up 2.7% to $72.91 while gold traded down 0.8% at $1,795.60.

Silver traded down 1% to $23.48 on Monday while copper fell 2% to $3.8030.


Euro zone

European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.49%, London’s FTSE 100 fell 0.41% while Spain’s IBEX 35 Index fell 0.37%. The German DAX declined 0.45%, French CAC 40 fell 0.41% and Italy’s FTSE MIB Index rose 0.11%.

Industrial production in the UK came in unchanged from the previous month during the month of October. The UK trade deficit narrowed to GBP 1.8 billion in October from GBP 3.1 billion a month ago. The British economy grew by 0.5% in October from September, recording the biggest expansion in around one year.


Asia Pacific Markets

Asian markets closed lower on Monday, with the Japan’s Nikkei dropping 0.21% and Hong Kong’s Hang Seng Index dipping 2.20%. China’s Shanghai Composite Index fell 0.87%.

Producer prices in Japan climbed 9.3% year-over-year in November slowing from a revised 9.4% increase in October. Chinese total social increased to CNY 1.99 trillion in November from CNY 0.91 trillion in the prior month.



There were no major US economic releases Monday.

Check out this: CNN Fear & Greed Index In 'Neutral' Zone After Dow Tumbles 300 Points

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 101,324,880 cases with around 1,109,850 deaths. India confirmed a total of at least 44,676,070 cases and 530,650 deaths, while France reported over 38,504,840 COVID-19 cases with 159,610 deaths. In total, there were at least 653,911,220 cases of COVID-19 worldwide with more than 6,658,980 deaths.

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