Mid-afternoon market update: Dow tumbles 250 points, Enochian Biosciences shares spike higher

Toward the end of trading Monday, the Dow traded down 0.74% to 34,225.89 while the NASDAQ rose 0.45% to 14,132.55. The S&P also fell, dropping 0.27% to 4,236.03.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,462,280 cases with around 599,760 deaths. India confirmed a total of at least 29,510,410 cases and 374,300 deaths, while Brazil reported over 17,412,760 COVID-19 cases with 487,400 deaths. In total, there were at least 176,001,660 cases of COVID-19 worldwide with more than 3,805,010 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Information technology shares climbed 0.6% on Monday. Meanwhile, top gainers in the sector included Canaan Inc. CAN 17.55%, up 21%, and Corsair Gaming, Inc. CRSR 12.79%, up 26%.

In trading on Monday, materials shares fell 1.7%.

Top Headline

Accenture PLC ACN 0.09% agreed to acquire Aachen, Germany's engineering consulting and services firm, umlaut.

The financial terms of the transaction remain undisclosed

Equities Trading UP

Enochian Biosciences, Inc. ENOB 60.66% shares shot up 100% to $8.81. The FDA has accepted Enochian BioSciences Inc's pre-IND (Investigational New Drug) request for a potential functional cure or treatment of HIV.

Shares of RAPT Therapeutics, Inc. RAPT 119.2% got a boost, shooting 116% to $40.16 as the company announced topline results from its Phase 1b trial of RPT193 as monotherapy for moderate-to-severe atopic dermatitis (AD).

iTeos Therapeutics, Inc. ITOS 37.24% shares were also up, gaining 37% to $27.47. iTeos Therapeutics and GlaxoSmithKline plc have agreed to co-develop and co-commercialize EOS-448, an anti-TIGIT monoclonal antibody.

Equities Trading DOWN

Washington Prime Group Inc. WPG 31.2% shares tumbled 30% to $3.40 after the company filed for Chapter 11 bankruptcy.

Shares of Avenue Therapeutics, Inc. ATXI 30.63% were down 29% to $2.97 after the company received a second Complete Response Letter from the FDA regarding its marketing application seeking approval for IV tramadol.

Inhibikase Therapeutics, Inc. IKT 18.4% was down, falling 19% to $4.8750. Inhibikase Therapeutics filed for offering of up to 8 million shares of common stock.


In commodity news, oil traded down 0.2% to $70.74, while gold traded down 0.8% to $1,865.30.

Silver traded down 0.5% Monday to $28.01 while copper fell 0.3% to $4.5245.

Euro zone

European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.18%, the Spanish Ibex Index rose 0.83% and the German DAX 30 fell 0.13%. Meanwhile, the London’s FTSE 100 gained 0.18%, French CAC 40 climbed 0.24% and Italy’s FTSE MIB rose 0.16%.

Eurozone industrial production increased 0.8% in April versus a revised 0.4% rise in the previous month.


There are no major economic releases for Monday.

Benzinga does not provide investment advice. All rights reserved.

Feed news

Latest Forex Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD extends gains beyond 1.1820 after US data miss

EUR/USD is trading near weekly highs above 1.1820, as the greenback eases with worse than anticipated data and ahead of the US Federal Reserve decision. US Durable Goods Orders missed estimates with +0.8% in June.


GBP/USD recaptures 1.38 as the dollar pares gains

GBP/USD is trading above 1.38, as the safe-haven dollar gains have faded away after a risk-off mood earlier in the day. The pound benefited from the drop in British covid cases. 


Gold battles $1,800 as USD lingers near highs

Gold prices loiter near the $1,800 mark for the past five trading sessions. The US dollar remains steady near the four-month high ahead of the Fed’s interest rate decision. The prices moved cautiously despite the general negative sentiments surrounding the greenback.

Gold News

Crypto markets bleed after Amazon denies rumors; uptrend intact

Bitcoin price is experiencing a pullback after rallying 38% to tag $40,000. Ethereum price promptly follows BTC as it eyes a retracement to the $2,018 support level.

Read more

FX: 10 things to watch this week

Taking a look at the economic calendar, it is set to be a busy week for the forex market. There’s a central bank rate decision, GDP, inflation and employment reports scheduled for release. A number of big tech companies have ...

Read more