U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 300 points on Monday.
The Dow traded up 0.77% to 42,440.12 while the NASDAQ rose 0.46% to 18,603.67. The S&P 500 also rose, gaining, 0.43% to 5,832.99.
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Leading and Lagging Sectors
Financials shares rose by 1.2% on Monday.
In trading on Monday, energy shares fell by 0.7%.
Top Headline
Koninklijke Philips NV PHG reported third-quarter adjusted EPS of 0.32 euros (or $0.35), missing the consensus of 0.35 euros. The Dutch conglomerate reported sales of 4.38 billion euros ($4.74 billion), down 2% year over year and missing the consensus of 4.54 billion euros.
Equities Trading UP
- Healthcare Triangle, Inc. HCTI shares shot up 106% to $1.19 after the company disclosed in a filing that it acquired the business, assets, and operations relating to cloud and technology domain of Securekloud Technologies.
- Shares of Autonomix Medical, Inc. AMIX got a boost, surging 70% to $13.08 after the company reported preliminary results from its clinical trial of RF Ablation technology where 100% of its responder group was able to eliminate opioid use and reduce pain scores.
- Evoke Pharma, Inc. EVOK shares were also up, gaining 52% to $7.78 after the company announced the presentation of GLP-1 data for users with diabetic gastoparesis using GIMOTI and showed statistically significant improvements.
Equities Trading DOWN
- Koninklijke Philips N.V. PHG shares dropped 16% to $26.52 after the company reported third-quarter EPS and sales below estimates and revised its 2024 outlook due to weak demand in China.
- Shares of Borr Drilling Limited BORR were down 7% to $4.38. The stock may be moving on continued weakness following Friday’s reported preliminary third-quarter financial results.
- CEMEX, S.A.B. de C.V. CX was down, falling 9% to $5.46 following weak quarterly results.
Commodities
In commodity news, oil traded down 6% to $67.49 while gold traded down 0.1% at $2,754.40.
Silver traded up 0.2% to $33.850 on Monday, while copper fell 0.1% to $4.3655.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 gained 0.41%, Germany's DAX rose 0.35% and France's CAC 40 rose 0.79%. Spain's IBEX 35 Index rose 0.77%, while London's FTSE 100 rose 0.45%.
Retail sales in Spain rose by 4.1% year-over-year in September, while retail sales volumes in the UK fell by 6% in October following a 4% increase in September.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 1.82%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite Index gaining 0.68% and India's BSE Sensex surging 0.76%.
Hong Kong’s trade deficit shrank to $53.2 billion in September from $64.6 billion in the year-ago month.
Economics
The Federal Reserve Bank of Dallas’ general business activity index for manufacturing in Texas rose to -3 in October compared to a reading of -9 in the earlier month.
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