U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining over 50 points on Monday.
The Dow traded up 0.01% to 46,321.12 while the NASDAQ rose 0.24% to 22,685.77. The S&P 500 also rose, gaining, 0.15% to 6,674.60.
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Leading and Lagging Sectors
Information technology shares jumped by 0.4% on Monday.
In trading on Monday, consumer staples stocks fell by 0.5%.
Top Headline
Pfizer Inc. (NYSE:PFE) on Monday agreed to acquire Metsera, Inc. (NASDAQ:MTSR) to accelerate the next generation of medicines for obesity and cardiometabolic diseases.
The acquisition brings a portfolio of differentiated oral and injectable incretin, non-incretin, and combination therapy candidates.
Equities Trading UP
- AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) shares shot up 157% to $6.20 after the company announced it will be renamed AVAX One and will raise approximately $550 million.
- Shares of Qualigen Therapeutics, Inc. (NASDAQ:QLGN) got a boost, surging 141% to $6.86 after Faraday Future announced a $41 million investment in the company.
- MBX Biosciences, Inc. (NASDAQ:MBX) shares were also up, gaining 134% to $23.43 after the company announced once-weekly Canvuparatide achieved the primary endpoint in a Phase 2 trial.
Equities Trading DOWN
- Chijet Motor Company, Inc. (NASDAQ:CJET) shares dropped 38% to $0.1813. Chijet Motor named Jason Miller as COO, effective immediately.
- Shares of Cosan S.A. (NYSE:CSAN) were down 23% to $4.3850. HSBC analyst Lilyanna Yang downgraded Cosan from Hold to Reduce and announced a $4.4 price target.
- Quantum Computing Inc. (NASDAQ:QUBT) was down, falling 14% to $19.97 after the company announced a $500 million oversubscribed private placement of 26,867,276 shares.
Commodities
In commodity news, oil traded down 0.7% to $62.23 while gold traded up 1.3% at $3,752.30.
Silver traded up 2.1% to $43.835 on Monday, while copper fell 0.4% to $4.6085.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.26%, while Spain's IBEX 35 Index fell 1.08%. London's FTSE 100 rose 0.01%, Germany's DAX 40 fell 0.72% and France's CAC 40 fell 0.56% during the session.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan's Nikkei gaining 0.99%, Hong Kong's Hang Seng dipping 0.76%, China's Shanghai Composite rising 0.22% and India's BSE Sensex falling 0.56%.
Economics
The Chicago Fed National Activity Index rose to -0.12 in August, recording the highest reading in five months, versus a revised reading of -0.28 in August.
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