Following the market opening Monday, the Dow traded up 0.87% to 33,441.43 while the NASDAQ rose 1.05% to 13,621.94. The S&P also rose, gaining 1.05% to 4,062.11.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,706,120 cases with around 555,000 deaths. Brazil reported over 12,984,950 COVID-19 cases with 331,430 deaths, while India confirmed a total of at least 12,589,060 cases and 165,100 deaths. In total, there were at least 131,370,250 cases of COVID-19 worldwide with more than 2,854,150 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer discretionary shares rose 1.6% on Monday. Meanwhile, top gainers in the sector included Leaf Group Ltd. LEAF, up 22%, and Target Hospitality Corp. TH, up 12%.
In trading on Monday, energy shares fell 1.9%.
Top Headline
The ISM services PMI climbed to record high level of 63.7 in March from 55.3 in February. However, analysts were expecting a reading of 59.
Equities Trading UP
AeroCentury Corp. ACY shares shot up 60% to $15.50. The company recently reported that it filed a petition for a Chapter 11 reorganization.
Shares of Chembio Diagnostics, Inc. CEMI got a boost, shooting 47% to $5.16 after the company announced the commercial launch of a test to differentiate between COVID-19 and the Flu.
Nano-X Imaging Ltd. NNOX shares were also up, gaining 31% to $54.00 after the company announced on Friday its single-source Nanox.ARC digital x-ray technology has received 510(k) clearance from the FDA.
Check out these big movers of the day
Equities Trading DOWN
Molecular Templates, Inc. MTEM shares tumbled 25% to $9.35. The company announced plans to prioritize next-generation ETB candidates.
Shares of ACADIA Pharmaceuticals Inc. ACAD were down 16% to $21.44 after the FDA issued a Complete Response Letter (CRL) to Acadia Pharmaceuticals regarding its supplemental marketing application for Nuplazid (pimavanserin) for the treatment of hallucinations and delusions associated with dementia-related psychosis (DRP).
Elite Education Group International Limited EEIQ was down, falling 15% to $10.15. The company recently announced partial exercise of underwriters option.
Commodities
In commodity news, oil traded down 1.8% to $60.36, while gold traded down 0.2% to $1,724.40.
Silver traded down 0.5% Monday to $24.835 while copper rose 2.8% to $4.1005.
Euro zone
European markets were closed on Easter Monday.
Economics
The IHS Markit services PMI was revised higher to 60.4 in March from a preliminary reading of 60.0.
US factory orders fell 0.8% for February.
The ISM services PMI climbed to 63.7 in March from 55.3 in February.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The Investor Movement Index for March will be released at 12:30 p.m. ET.
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