US Stocks Higher; Dow Jumps 250 Points

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 250 points on Monday.

Following the market opening Monday, the Dow traded up 0.54% to 48,641.58 while the NASDAQ gained 0.65% to 23,386.57. The S&P 500 also rose, gaining, 0.63% to 6,901.52.

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Leading and Lagging Sectors

Energy shares gained by 2.9% on Monday.

In trading on Monday, consumer staples stocks dipped by 0.4%.

Top Headline

The U.S. Food and Drug Administration (FDA) on Monday lifted the clinical hold on GH Research Plc’s (NASDAQ:GHRS) Investigational New Drug Application (IND) for GH001.

Equities Trading UP
           

• Momentus Inc (NASDAQ:MNTS) shares shot up 94% to $11.14 after the company announced the development of an additive-manufactured fuel tank that is scheduled to perform flight testing aboard its Vigoride-7 orbital service vehicle.
• Shares of TMD Energy Ltd (NYSE:TMDE) got a boost, surging 76% to $0.78.
• VerifyMe Inc (NASDAQ:VRME) shares were also up, gaining 40% to $0.94. VerifyMe and Open World entered into a letter of intent for strategic merger.

Equities Trading DOWN

• Zenas Biopharma Inc (NASDAQ:ZBIO) shares dropped 55% to $15.54 after the company announced results from Phase 3 INDIGO trial of obexelimab in immunoglobulin G4-related disease.
• Shares of Signing Day Sports Inc (NYSE:SGN) were down 37% to $0.60.
• Lavoro Ltd (NASDAQ:LVRO) was down, falling 26% to $0.82.

Commodities

In commodity news, oil traded up 1.4% to $58.12 while gold traded up 2.4% at $4,433.50.

Silver traded up 7.5% to $76.320 on Monday, while copper rose 4.1% to $5.9260.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.5%, while Spain’s IBEX 35 Index rose 0.3%. London’s FTSE 100 rose 0.4%, Germany’s DAX gained 0.2% and France’s CAC 40 climbed 0.1% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 2.97%, Hong Kong’s Hang Seng Index gaining 0.03%, China’s Shanghai Composite surging 1.38% and India’s BSE Sensex falling 0.38%.

Economics

The ISM manufacturing PMI will be released today.

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