Mid-afternoon market update: Dow gains 150 points, Red Cat Holdings shares spike higher
|Toward the end of trading Monday, the Dow traded up 0.43% to 34,949.08 while the NASDAQ fell 0.35% to 14,995.27. The S&P also fell, dropping 0.05% to 4,453.40.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,932,210 cases with around 688,040 deaths. India confirmed a total of at least 33,678,780 cases and 447,190 deaths, while Brazil reported over 21,351,970 COVID-19 cases with 594,440 deaths. In total, there were at least 231,898,110 cases of COVID-19 worldwide with more than 4,749,570 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares jumped 3.3% on Monday. Meanwhile, top gainers in the sector included Camber Energy, Inc. CEI +32.84% (Get Free Alerts for CEI), up 22% and Southwestern Energy Company SWN +21.89% (Get Free Alerts for SWN) up 18%.
In trading on Monday, health care shares fell 1.4%.
Top Headline
US durable goods orders rose 1.8% in August following a revised 0.5% growth in July. Analysts, meanwhile were expecting for a 0.7% increase.
Equities Trading UP
Red Cat Holdings, Inc. RCAT +50% shares shot up 52% to $3.6480 after the company said its subsidiary, Skypersonic, Inc, won a five-year contract from NASA to provide drone and rover software, hardware, and support for the Simulated Mars mission.
Shares of Cellect Biotechnology Ltd. APOP +12.71% got a boost, shooting 18% to $22.38 after the company announced shareholder approval of the strategic merger with Quoin Pharmaceuticals.
Seelos Therapeutics, Inc. SEEL +14.35% shares were also up, gaining 16% to $2.43. Roth Capital upgraded Seelos Therapeutics from Neutral to Buy and raised the price target from $2.5 to $8.
Equities Trading DOWN
ASLAN Pharmaceuticals Limited ASLN +34.77% shares tumbled 35% to $2.11 after the company announced topline data from its Phase 1 study of ASLAN004 for moderate-to-severe atopic dermatitis (AD).
Shares of MEDIROM Healthcare Technologies Inc. MRM +7.67% were down 11% to $10.10 after dropping 11% on Friday. MEDIROM Healthcare Technologies recently said it will buy ZACC Kabushiki Kaisha for $3.362 million.
ReWalk Robotics Ltd. RWLK +12.44% was down, falling 14% to $1.7250 as the company reported a 16 million share offering at $2.035 per share.
Commodities
In commodity news, oil traded up 1.9% to $75.40, while gold traded up 0.1% to $1,752.10.
Silver traded up 1.2% Monday to $22.69 while copper fell 0.1% to $4.2815.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 slipped 0.19%, the Spanish Ibex Index rose 1.46% and the German DAX 30 gained 0.27%. Meanwhile, the London’s FTSE 100 rose 0.17%, French CAC 40 rose 0.19% and Italy’s FTSE MIB gained 0.63%.
Loans to households in the Eurozone increased 4.2% in August, unchanged from the earlier month's growth. Producer prices in Spain surged 18% year-over-year in August following a 15.6% increase in the prior month.
Economics
US durable goods orders rose 1.8% in August following a revised 0.5% growth in July. Analysts, meanwhile were expecting for a 0.7% increase.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.