Crude Oil Moves Higher; US Homebuilder Sentiment Falls In October

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 300 points on Monday.

The Dow traded up 0.06% to 52,031.59 while the NASDAQ jumped 1.24% to 26,465.39. The S&P 500 also rose, gaining, 0.56% to 7,702.61.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 2.7% on Monday.

In trading on Monday, utilities stocks fell by 1.9%.

Top Headline

The NAHB/Wells Fargo Housing Market Index declined for a second straight month to 29 in October, recording the lowest reading since June 2012, down from 32 in the previous month and missing market estimates of 32.

Equities Trading UP
           

• Silence Therapeutics PLC – ADR (NASDAQ:SLN) shares shot up 126% to $19.58 after the company agreed to be acquired by Merck KGaA, Darmstadt, Germany.
• Shares of J-Star Holding Co Ltd (NASDAQ:YMAT) got a boost, surging 60% to $2.10 after the company issued an update on planned U.S. drone frame production initiative, including ongoing negotiations to acquire a commercial manufacturing facility located in Greater Houston, Texas.
• Disc Medicine Inc (NASDAQ:IRON) shares were also up, gaining 34% to $76.32 after the company announced topline results from the APOLLO Phase 3 trial of bitopertin in erythropoietic protoporphyria, including X-linked protoporphyria met all its primary and secondary endpoints.

Equities Trading DOWN

• INLIF Ltd (NASDAQ:INLF) shares dipped 87% to $0.32 as the company announced pricing of $3.75 million registered direct offering.
• Shares of EyePoint Inc (NASDAQ:EYPT) were down 82% to $0.54 after the company announced topline results from LUCIA did not achieve its primary endpoint.
• Glass House Brands Inc. (NYSE:GLAS) was down, falling 39% to $1.94 after the company reported third-quarter preliminary revenue of $56.8 million.

Commodities 

In commodity news, oil traded up 1.8% to $103.20 while gold traded down 0.2% at $4,172.70.

Silver traded up 0.2% to $57.42 on Monday, while copper fell 0.5% to $6.5440.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1%, while Spain’s IBEX 35 Index dipped 1.7%, London’s FTSE 100 fell 1.1%, Germany’s DAX tumbled 1.5%, while France’s CAC 40 declined 1.5%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.62%, China’s SSE Composite Index gaining 0.39% and India’s BSE Sensex dipping 1.17%.

Economics

The NAHB/Wells Fargo Housing Market Index declined for a second straight month to 29 in October, recording the lowest reading since June 2012, down from 32 in the previous month and missing market estimates of 32.

Photo via Shutterstock