U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 200 points on Monday.
The Dow traded up 0.51% to 47,449.22 while the NASDAQ rose 1.68% to 23,593.80. The S&P 500 also rose, gaining, 1.01% to 6,860.11.
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Leading and Lagging Sectors
Communication services shares jumped by 1.5% on Monday.
In trading on Monday, utilities stocks fell by 0.4%.
Top Headline
Shares of Carter's Inc (NYSE:CRI) gained 5% on Monday after the company posted third-quarter earnings results.
Carter's reported quarterly earnings of 74 cents per share which beat the analyst consensus estimate of 73 cents per share. The company reported quarterly sales of $757.836 million which missed the analyst consensus estimate of $769.763 million.
The company anticipates a significant financial impact from new administration tariffs, projecting a gross pre-tax earnings hit of approximately $200 million to $250 million on an annualized basis, an increase from the $110 million in duties paid in fiscal year 2024.
Equities Trading UP
- Sotherly Hotels Inc. (NASDAQ:SOHO) shares shot up 137% to $2.15. Sotherly Hotels agreed to be acquired by a joint venture led by affiliates of Kemmons Wilson Hospitality Partners LP (KWHP), with Ascendant Capital Partners LP as a strategic partner.
- Shares of Co-Diagnostics, Inc. (NASDAQ:CODX) got a boost, surging 102% to $0.7104 after the company signed a definitive agreement with Arabian Eagle to establish CoMira Diagnostics and localize its Co-Dx PCR platform across the Middle East.
- BIO-key International, Inc. (NASDAQ:BKYI) shares were also up, gaining 115% to $1.6750 after the company partnered with IT2Trust, a key IT security distributor in Scandinavia.
Equities Trading DOWN
- Intellia Therapeutics, Inc. (NASDAQ:NTLA) shares dropped 43% to $14.71 after the company announced it is temporarily halting patient dosing and screening for the MAGNITUDE and MAGNITUDE-2 Phase 3 clinical studies of Nex-z in patients with transthyretin amyloidosis with cardiomyopathy.
- Shares of Organon & Co. (NYSE:OGN) were down 20% to $7.29 after CEO Kevin Ali resigned in connection with an Audit Committee investigation; Joseph Morrissey appointed Interim CEO.
- Genenta Science S.p.A. (NASDAQ:GNTA) was down, falling 43% to $3.5268 after the company announced pricing of $15.0 million registered direct offering of American Depositary Shares.
Commodities
In commodity news, oil traded up 0.1% to $61.58 while gold traded down 3.1% at $4,009.90.
Silver traded down 3.8% to $46.755 on Monday, while copper rose 0.9% to $5.1690.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.17%, while Spain's IBEX 35 Index gained 0.82%. London's FTSE 100 rose 0.15%, Germany's DAX 40 rose 0.16% and France's CAC 40 rose 0.07% during the session.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 2.46%, Hong Kong's Hang Seng index gaining 1.05%, China's Shanghai Composite rising 1.18% and India's BSE Sensex gaining 0.67%.
Economics
The Dallas Fed Manufacturing Index will be released today.
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