Dow Jumps Over 100 Points; Helen Of Troy Posts Upbeat Results

U.S. stocks traded mostly higher this morning, with the Dow Jones gaining more than 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.42% to 33,875.03 while the NASDAQ fell 0.12% to 13,643.68. The S&P 500, also rose, gaining, 0.05% to 4,401.19.

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Leading and Lagging Sectors

• Industrials shares rose by 1% on Monday.
• In trading on Monday, utilities shares fell by 0.9%.

Top Headline

Helen Of Troy Ltd HELE reported better-than-expected results for its first quarter.

The company reported a first-quarter FY24 sales decline of 6.6% year-on-year to $474.67 million, beating the analyst consensus of $465.36 million. Adjusted EPS of $1.94 beat the analyst consensus of $1.60.

Equities Trading UP

• Mobilicom Limited MOB shares shot up 79% to $2.6900 after the company announced it received a commercial scale purchase order from Teledyne-FLIR for the production of drones for the U.S. Department of Defense.
• Shares of Jupiter Wellness, Inc. JUPW got a boost, shooting 44% to $0.5270 after the company announced it has executed an Asset Purchase Agreement with GBB Drink Lab to acquire all operating assets including the "Safety Shot" rapid alcohol detox drink.
• Nanobiotix S.A. NBTX shares were also up, gaining 46% to $7.37 after the company entered into a license agreement with Janssen Pharmaceutical for global co-development and commercialization of NBTXR3.

Equities Trading DOWN

• Tivic Health Systems, Inc. TIVC shares dropped 42% to $0.0643 after the company priced public offering of 32.5 million shares at $0.055 per share.
• Shares of Neonode Inc. NEON were down 33% to $4.92 after dropping over 8% on Friday.
• Tattooed Chef, Inc. TTCF was down, falling 17% to $0.2164.

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Commodities

In commodity news, oil traded down 0.7% to $73.35 while gold traded down 0.3% at $1,927.20.

Silver traded down 0.2% to $23.24 on Monday while copper fell 0.9% to $3.7495.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.4%, London’s FTSE 100 rose 0.5% while Spain’s IBEX 35 Index gained 0.4% The German DAX gained 0.7% French CAC 40 climbed 0.8% and Italy’s FTSE MIB Index gained 0.8%.

The BNP Paribas Real Estate Construction PMI for Ireland rose to 50.4 in June from 49.4 in the prior month, recording the first growth in construction activity since Sept. 2022.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 dropping 0.61%, Hong Kong’s Hang Seng Index gaining 0.62%, China’s Shanghai Composite Index gaining 0.22%. India’s S&P BSE Sensex rose 0.1%.

The gauge for service sector sentiment in Japan dropped 1.4 points from the previous month to 53.6 in June, while Japan's current account surplus widened to JPY 1,862.4 billion in May compared to JPY 773..4 billion in the same year-ago period.

Chinese consumer prices came in flat for June 2023, following May's reading of a 0.2% increase, while producer prices declined 5.4% year-over-year in June. Vehicle sales in China rose 0.14% year-over-year to 2.51 million units in June.

Economics

Wholesale inventories in the U.S. came in unchanged month-over-month in May versus earlier estimates of a 0.1% decline.

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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 107,356,620 cases with around 1,168,500 deaths. India confirmed a total of at least 44,994,570 cases and 531,910 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 691,235,020 cases of COVID-19 worldwide with more than 6,898,480 deaths.