US Stocks Higher; Nasdaq Jumps 100 Points

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.55% to 38,073.10 while the NASDAQ rose 0.71% to 15,420.00. The S&P 500 also rose, gaining, 0.49% to 4,863.49.

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Leading and Lagging Sectors

Real estate shares rose by 1.4% on Monday.

In trading on Monday, consumer staples shares fell by 0.2%.

Top Headline

US leading index fell 0.1% for December, versus analysts’ expectations for a 0.5% decline.

Equities Trading UP

Sagimet Biosciences Inc. SGMT shares shot up 155% to $17.37 after the company announced denifanstat in the Phase 2b FASCINATE-2 clinical trial achieved statistically significant results on the primary and multiple secondary endpoints.

Shares of Rail Vision Ltd. RVSN got a boost, surging 50% to $2.07. Rail Vision said its main line system has successfully obtained formal certifications for critical European Union railway standards.

Fisker Inc. FSR shares were also up, gaining 33% to $1.04. Fisker filed a Form 8-K with the Securities and Exchange Commission regarding amendments with its 2025 convertible notes investor.

Equities Trading DOWN

Virios Therapeutics, Inc. VIRI shares dropped 33% to $0.5411.
Virios Therapeutics announced plans to advance development of IMC-2 as treatment for symptoms associated with long-COVID.

Shares of Processa Pharmaceuticals, Inc. PCSA were down 32% to $3.06. Processa Pharmaceuticals recently announced plans to expand the development of Next Generation Capecitabine into the treatment of advanced or metastatic breast cancer.

Nuvve Holding Corp. NVVE was down, falling 22% to $2.9908. Nuvve recently announced a 1-for-40 reverse stock split.

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Commodities

In commodity news, oil traded up 1.2% to $74.28 while gold traded down 0.2% at $2,025.40.

Silver traded down 1.9% to $22.28 on Monday while copper fell 0.6% to $3.7640.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.7%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index rose 1.1% The German DAX rose 0.6% French CAC 40 rose 0.6% while Italy’s FTSE MIB Index fell 0.3%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 gaining 1.62%, Hong Kong’s Hang Seng Index falling 2.27% and China’s Shanghai Composite Index declining 2.68%. India’s S&P BSE Sensex, meanwhile, fell 0.36%.

The annual inflation rate in Hong Kong eased to 2.4% in December from 2.6% in the prior month. The People's Bank of China kept its lending rates unchanged at the January fixing.

Economics

US leading index fell 0.1% for December, versus analysts’ expectations for a 0.5% decline.

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