Crude Oil Drops Sharply; Chinook Therapeutics Shares Spike Higher - Strive (NASDAQ:ASST)

U.S. stocks traded higher midway through trading, with Dow Jones gaining over 40 points on Monday.

The Dow traded up 0.12% to 33,919.07 while the NASDAQ rose 0.49% to 13,323.71. The S&P 500, also rose, gaining, 0.21% to 4,307.89.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 0.8% on Monday. Meanwhile, top gainers in the sector included Vroom, Inc. (NASDAQ:VRM), up 13%, and XPeng Inc. (NYSE:XPEV), up 15%.
In trading on Monday, energy shares fell by 1%.

Top Headline

Novartis agreed to acquire Chinook Therapeutics, Inc for $40 per share in cash.

Equities Trading UP

Asset Entities Inc. (NASDAQ:ASST) shares shot up 142% to $2.7849 after the company announced the development of an AI bot as part of its AE360DDM suite of services on Discord.
Shares of Chinook Therapeutics, Inc. (NASDAQ:KDNY) got a boost, shooting 56% to $37.49 after Novartis agreed to acquire the company for $40 per share in cash.
Marker Therapeutics, Inc. (NASDAQ:MRKR) shares were also up, gaining 24% to $3.1001 after it reported first patient was treated in the company's Phase 1 APOLLO trial of MT-601 for lymphoma patients.

Equities Trading DOWN

Forza X1, Inc. (NASDAQ:FRZA) shares dropped 45% to $1.7001. Forza X1 reported pricing of $8 million public offering of 5,334,000 shares of common stock at a price of $1.50 per share.
Shares of Nasdaq, Inc. (NASDAQ:NDAQ) were down 11% to $51.31 after the company announced the acquisition of Adenza for $10.5 billion in cash and stock.
Oncorus, Inc. (NASDAQ:ONCR) was down, falling 28% to $0.0702. On June 7, Oncorus board unanimously approved dissolution and liquidation of company pursuant to a plan of liquidation and dissolution.

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Commodities

In commodity news, oil traded down 4.4% to $67.07 while gold traded down 0.6% at $1,964.80.

Silver traded down 1.8% to $23.975 on Monday while copper fell 1.2% to $3.7440.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.14%, London’s FTSE 100 fell 0.02% while Spain’s IBEX 35 Index rose 0.44% The German DAX gained 0.79% French CAC 40 rose 0.56% and Italy’s FTSE MIB Index rose 0.75%.

The BNP Paribas Real Estate Construction PMI in Ireland climbed to 49.4 in May from 48.4 in April.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.52%, Hong Kong’s Hang Seng Index gaining 0.07% and China’s Shanghai Composite Index dropping 0.08%. India’s S&P BSE Sensex rose 0.2%.

Japanese machine tool orders dipped 22.2% year-over-year to JPY 119,316 million in May following a revised 14.4% decline in the prior month. Producer prices in Japan increased 5.1% year-over-year in May followed a revised 5.9% rise in April.

Economics

The U.S. Treasury budget report for May will be released at 2:00 p.m. ET.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,187,160 cases with around 1,166,660 deaths. India confirmed a total of at least 44,992,780 cases and 531,890 deaths, while France reported over 40,113,580 COVID-19 cases with 167,480 deaths. In total, there were at least 690,283,600 cases of COVID-19 worldwide with more than 6,890,400 deaths.

ASSTStrive Inc

$16.890.59%

Overview

MRKRMarker Therapeutics Inc

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