U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining over 50 points on Monday.
The Dow traded up 0.02% to 42,216.40 while the NASDAQ gained 0.35% to 19,514.58. The S&P 500 also rose, gaining, 0.23% to 5,981.86.
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Leading and Lagging Sectors
Consumer discretionary shares jumped by 1.6% on Monday.
In trading on Friday, health care stocks fell by 0.3%.
Top Headline
The S&P Global US services PMI fell to 53.1 in June versus 53.7 in the previous month, and compared to market expectations of 52.9.
Equities Trading UP
- Impact BioMedical Inc. (NYSE:IBO) shares shot up 386% to $1.76. Dr Ashleys Limited and Impact BioMedical Inc. announced a strategic merger.
- Shares of SpartanNash Company (NASDAQ:SPTN) got a boost, surging 50% to $26.41 after the company announced it will be acquired by C&S Wholesale Grocers.
- Cidara Therapeutics, Inc. (NASDAQ:CDTX) shares were also up, gaining 93% to $40.54 after the company announced positive topline results from its Phase 2b NAVIGATE trial evaluating CD388, a non-vaccine preventative of seasonal influenza.
Equities Trading DOWN
- Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 28% to $45.97 after Novo Nordisk reportedly terminated its collaboration with the company.
- Shares of Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) were down 26% to $1.23. Lipella Pharmaceuticals announced delisting from Nasdaq Capital Market.
- COMPASS Pathways plc (NASDAQ:CMPS) was down, falling 46% to $2.4901. The company announced it reached its primary endpoint in the ongoing Phase 3 COMP005 trial.
Commodities
In commodity news, oil traded down 1.1% to $73.05 while gold traded up 0.5% at $3,402.20.
Silver traded up 0.7% to $36.255 on Monday, while copper rose 0.1% to $4.8395.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.26%, while Spain's IBEX 35 Index fell 0.03%. London's FTSE 100 slipped 0.25%, Germany's DAX 40 declined 0.27% and France's CAC 40 fell 0.65% during the session.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei falling 0.13%, Hong Kong's Hang Seng Index gaining 0.67%, China's Shanghai Composite rising 0.65% and India's BSE Sensex falling 0.62%.
Economics
- The S&P Global US services PMI fell to 53.1 in June versus 53.7 in the previous month, and compared to market expectations of 52.9.
- The S&P Global US manufacturing PMI came in unchanged from the previous month at 52 in June.
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