Dow Jumps Over 300 Points; Crude Oil Up 1%

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U.S. stocks traded higher midway through trading, with the Dow Jones gaining more than 30 points on Monday.

The Dow traded up 0.94% to 33,687.69 while the NASDAQ rose 1.93% to 11,355.16. The S&P 500 also rose, gaining, 1.31% to 4,024.60.

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Leading and Lagging Sectors

  • Information technology shares jumped by 2.7% on Monday. Meanwhile, top gainers in the sector included Presto Automation Inc. (NASDAQ:PRST), up 18%, and Diebold Nixdorf, Incorporated (NYSE:DBD), up 13%.
  • In trading on Monday, materials shares rose by just 0.2%.

 

Top Headline

U.S. leading indicators fell 1% in December.

Equities Trading UP

  • Pliant Therapeutics, Inc.. (NASDAQ:PLRX) shares shot up 48% to $33.30 after the company announced its trial for patients with Idiopathic Pulmonary Fibrosis met its primary and secondary endpoints.
  • Shares of Verb Technology Company, Inc. (NASDAQ:VERB) got a boost, shooting 92% to $0.44 after the company announced its board of directors has begun examining measures to address the alleged illegal short selling of its stock, among other suspected trading violations.
  • Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares were also up, gaining 344% to $1.1975 after the company announced it successfully completed the review of results from Milestone 7, a phase of its biosensor platform development.

Equities Trading DOWN

  • Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares tumbled 33% to $14.00 after Teva Pharmaceuticals stated it plans to sell a generic version of Catalyst’s FIRDAPSE in the United States.
  • Shares of AnPac Bio-Medical Science Co., Ltd. (NASDAQ:ANPC) were down 16% to $8.11. AnPac Bio-Medical Sciences announced receipt of staff delisting determination from the Nasdaq.
  • Jaguar Health, Inc. (NASDAQ:JAGX) was down, falling 16% to $5.33. Jaguar Health announced establishment of board of directors for newly formed joint venture Magdalena Biosciences.
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Commodities

In commodity news, oil traded up 1.1% to $82.50 while gold traded down 0.2% at $1,924.20.

Silver traded down 2.7% to $23.29 on Monday while copper rose 0.3% to $4.2625.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.59%, London’s FTSE 100 rose 0.27% while Spain’s IBEX 35 Index gained 0.32%. The German DAX gained 0.53% French CAC 40 gained 0.63% and Italy’s FTSE MIB Index rose 0.18%.

The consumer confidence indicator in the Eurozone increased by 1.1 points to -20.9 in January, recording the highest level since February 2022.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan’s Nikkei 225 adding 1.33% and India’s S&P BSE Sensex gaining 0.5%. Many Asian markets were closed for the Lunar New Year holidays.

Economics

U.S. leading indicators fell 1% in December.

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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 103,856,210 cases with around 1,128,800 deaths. India confirmed a total of at least 44,682,010 cases and 530,730 deaths, while France reported over 39,484,540 COVID-19 cases with 163,750 deaths. In total, there were at least 673,376,870 cases of COVID-19 worldwide with more than 6,746,780 deaths.