U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Monday.
The Dow traded up 0.55% to 31,460.80 while the NASDAQ rose 1.15% to 11,584.68. The S&P also rose to 3,890.32.
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Leading and Lagging Sectors
Energy shares rose 2.8% on Monday. Meanwhile, top gainers in the sector included North European Oil Royalty Trust (NYSE:NRT), up 20% and BP Prudhoe Bay Royalty Trust (NYSE:BPT) up 14%.
In trading on Monday, utilities shares fell by 0.7%.
Top Headline
The NAHB housing market index fell to 55 in July, recording the weakest reading since May 2020, down from June’s reading of 67. Analysts, however, were expecting a reading of 65.
Equities Trading UP
Tantech Holdings Ltd (NASDAQ:TANH) shares shot up 63% to $0.4228 after the company posted a narrower FY loss.
Shares of Qudian Inc. (NYSE:QD) got a boost, shooting 52% to $1.8050 after the company highlighted progress in its QD Food brand and said its 717 Foodies Festival fueled sales of approximately 9.56 million dishes.
Advent Technologies Holdings, Inc. (NASDAQ:ADN) shares were also up, gaining 26% to $3.3037 after the company's Green HiPo project received official ratification from the European Commission.
Equities Trading DOWN
United Maritime Corporation (NASDAQ:USEA) shares tumbled 54% to $2.7850 after the company reported pricing of $26 million offering.
Shares of Mawson Infrastructure Group, Inc. (NASDAQ:MIGI) were down 11% to $0.90 after the company announced a $6.4 million registered direct offering.
Sesen Bio, Inc. (NASDAQ:SESN) was down, falling 29% to $0.6350. Based on a thorough reassessment, Sesen Bio has decided to voluntarily pause further development in the U.S. of its lead asset, Vicineum, for non-muscle invasive bladder cancer.
G Medical Innovations Holdings Ltd (NASDAQ:GMVD) dropped 23.6% to $0.71.
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Commodities
In commodity news, oil traded up 4% to $101.44, while gold traded up 0.5% to $1,712.60.
Silver traded up 1.6% to $18.885 on Monday while copper rose 4.1% to $3.3655.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 climbed 0.94%, London’s FTSE 100 rose 0.96% while Spain’s IBEX 35 Index rose 0.14%. The German DAX gained 0.64%, French CAC 40 rose 0.92% and Italy’s FTSE MIB Index gained 0.96%.
Spain recorded a trade deficit of EUR 4.76 billion in May versus a year-ago surplus of EUR 0.14 billion. Italy reported a trade deficit of EUR 12 million in May compared to a surplus of EUR 5.6 billion in the year-ago month.
Economics
The NAHB housing market index fell to 55 in July, recording the weakest reading since May 2020, down from June’s reading of 67. Analysts, however, were expecting a reading of 65.
The Treasury International Capital report for May is scheduled for release at 4:00 p.m. ET.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 91,275,140 cases with around 1,048,238400 deaths. India confirmed a total of at least 43,767,530 cases and 525,760 deaths, while Brazil reported over 33,301,110 COVID-19 cases with 675,400 deaths. In total, there were at least 567,876,200 cases of COVID-19 worldwide with more than 6,387,860 deaths.
