Dow Jumps Over 200 Points; NY Empire State Manufacturing Index Increases In September
U.S. stocks traded mixed this morning, with the Dow Jones jumping over 200 points on Monday.
Following the market opening Monday, the Dow traded up 0.54% to 41,618.01 while the NASDAQ fell 0.69% to 17,562.23. The S&P 500 also fell, dropping, 0.06% to 5,622.81.
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Leading and Lagging Sectors
Energy shares jumped by 1.7% on Monday.
In trading on Monday, information technology shares fell by 1.4%.
Top Headline
The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.
Equities Trading UP
- NuCana plc NCNA shares shot up 170% to $6.85 after the company announced final data from the Phase 2 NuTide:701 study at the ESMO Congress on NUC-7738 in combination with pembrolizumab for patients with metastatic melanoma who were refractory to or had relapsed on prior PD-1 inhibitor therapy.
- Shares of Bone Biologics Corporation BBLG got a boost, surging 47% to $1.18.
- Dermata Therapeutics, Inc. DRMA shares were also up, gaining 42% to $2.2500.
Equities Trading DOWN
- Dunxin Financial Holdings Limited DXF shares dropped 21% to $0.1053.
- Shares of Immutep Limited IMMP were down 25% to $1.98. Immutep’s Efti in combination with MSD’s KEYTRUDA leads to efficacy with favourable safety in first line head and neck cancer.
- NWTN Inc. NWTN was down, falling 19% to $0.7098.
Commodities
In commodity news, oil traded up 1.4% to $69.59 while gold traded down 0.1% at $2,608.10.
Silver traded up 0.7% to $31.28 on Monday, while copper rose 0.6% to $4.2630.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, Germany’s DAX fell 0.3% and France’s CAC 40 fell 0.2%. Spain’s IBEX 35 Index rose 0.1%, while London’s FTSE 100 fell 0.02%.
The Eurozone recorded a trade surplus of EUR 21.2 billion in July, higher than market estimates of EUR 14.9 billion. Wages in the Eurozone increased 4.5% year-over-year in the second quarter, while hourly labor costs climbed by 4.7% year-over-year in the quarter. Italy reported a trade surplus of EUR 6.743 billion in July versus a year-ago surplus of EUR 6.108 billion.
Asia Pacific Markets
Asian markets closed mostly higher on Monday, with Hong Kong’s Hang Seng Index gaining 0.31% and India’s BSE Sensex gaining 0.12%.
Total passenger vehicle sales in India declined 1.6% year-over-year to 308,779 in August versus a 1.9% decline in the prior month.
Economics
The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.
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