U.S. stocks soared during morning trading, with the Nasdaq Composite witnessing a substantial gain of around 100 points on Monday.
As the market opened on Monday, the Dow climbed 0.55% to 38,073.10, and the NASDAQ surged 0.71% to 15,420.00. The S&P 500 also experienced an upward trend, rising by 0.49% to 4,863.49.
Leading and Lagging Sectors
The real estate sector stood out, advancing by 1.4% on Monday.
In contrast, the consumer staples sector witnessed a dip of 0.2% during trading.
Top Headline
The US leading index indicated a 0.1% decline for December, diverging from analysts’ projections of a 0.5% decrease.
Equities Trading UP
Sagimet Biosciences Inc. SGMT noted an impressive 155% surge in shares to $17.37 after the company reported statistically significant results for denifanstat in the Phase 2b FASCINATE-2 clinical trial.
Shares of Rail Vision Ltd. RVSN also flourished, escalating by 50% to $2.07. The company received formal certifications for its main line system, meeting critical European Union railway standards.
Fisker Inc. FSR experienced a 33% increase, reaching $1.04. Fisker filed a Form 8-K with the Securities and Exchange Commission concerning amendments with its 2025 convertible notes investor.
Equities Trading DOWN
Virios Therapeutics, Inc. VIRI encountered a 33% decrease, dropping to $0.5411.
Virios Therapeutics disclosed plans to advance the development of IMC-2 for the treatment of symptoms associated with long-COVID.
Shares of Processa Pharmaceuticals, Inc. PCSA plummeted by 32% to $3.06. Processa Pharmaceuticals recently announced its intentions to expand the development of Next Generation Capecitabine for the treatment of advanced or metastatic breast cancer.
Nuvve Holding Corp. NVVE encountered a 22% decline, falling to $2.9908. Nuvve recently implemented a 1-for-40 reverse stock split.
Commodities
In the commodity sector, oil observed a 1.2% increase, reaching $74.28, while gold experienced a 0.2% decline, settling at $2,025.40.
Silver depreciated by 1.9% to $22.28 on Monday, and copper retracted by 0.6% to $3.7640.
Euro zone
European shares predominantly surged on Monday. The Eurozone’s STOXX 600 elevated by 0.7%, London’s FTSE 100 grew by 0.2%, and Spain’s IBEX 35 Index rose by 1.1%. Meanwhile, the German DAX and French CAC 40 witnessed an increase of 0.6%, whereas Italy’s FTSE MIB Index experienced a 0.3% decline.
Asia Pacific Markets
Asian markets exhibited varying trends on Monday, with Japan’s Nikkei 225 surging by 1.62%, Hong Kong’s Hang Seng Index declining by 2.27%, and China’s Shanghai Composite Index dipping by 2.68%. India’s S&P BSE Sensex witnessed a 0.36% retreat.
In Hong Kong, the annual inflation rate eased to 2.4% in December from 2.6% in the preceding month. The People’s Bank of China retained its lending rates at the January fixing.
Economics
The US leading index exhibited a 0.1% decline for December, deviating from analysts’ projected 0.5% downturn.
Now Read This: How To Earn $500 A Month From AT&T Stock Ahead Of Q4 Print