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Following the market opening Monday, the Dow traded up 0.02% to 32,783.87 while the NASDAQ rose 0.28% to 13,357.04. However, the S&P fell 0.04% to 3,941.74.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 29,439,270 cases with around 534,890 deaths. Brazil reported over 11,483,370 COVID-19 cases with 278,220 deaths, while India confirmed a total of at least 11,385,330 cases and 158,720 deaths. In total, there were at least 119,956,950 cases of COVID-19 worldwide with more than 2,655,280 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose 0.7% on Monday. Meanwhile, top gainers in the sector included Companhia Paranaense de Energia - COPEL (NYSE:ELP), up 6%, and Azure Power Global Limited (NYSE:AZRE), up 5%.
In trading on Monday, energy shares fell 1.5%.
Top Headline
Roche Holding AG (OTC:RHHBY) announced a big-ticket acquisition that would boost its presence in the diagnostics market.
Roche said it has entered into a definitive agreement to acquire GenMark Diagnostics (NASDAQ:GNMK) for $24.05 per share in cash, or about $1.8 billion, on a fully diluted basis. The per-share value of the deal represents a 30% premium from the $18.50 per share at which GenMark's shares closed Friday, and a 43% premium over the stock's closing price on Feb .10, when a media report broke out regarding a possible transaction.
Equities Trading UP
Rubius Therapeutics, Inc. (NASDAQ:RUBY) shares shot up 111% to $34.81 after the company reported initial clinical data from ongoing Phase 1/2 trial of RTX-240 in patients with advanced solid tumors.
Shares of Sigma Labs, Inc. (NASDAQ:SGLB) got a boost, shooting 88% to $6.29 after the company secured a contract for an initial system of its PrintRite3D in-process quality assurance solution by Lockheed Martin’s Space Additive Design & Manufacturing Center based in Sunnyvale, California.
Shaw Communications Inc. (NYSE:SJR) shares were also up, gaining 33% to $25.41 after the company announced it would be acquired by Rogers Communications in a CAD $26 billion deal.
Check out these big movers of the day
Equities Trading DOWN
Torchlight Energy Resources, Inc. (NASDAQ:TRCH) shares tumbled 13% to $2.50. Torchlight Energy Resources said it is continuing to work towards regulatory requirements related to its business combination with Metamaterial.
Shares of Entera Bio Ltd. (NASDAQ:ENTX) were down 15% to $5.89. Entera Bio, on March 11th, announced its Phase 2 clinical trial of EB613 met its primary endpoint.
HighPoint Resources Corporation (NYSE:HPR) was down, falling 13% to $7.00 after the company announced that it commenced voluntary Chapter 11.
Commodities
In commodity news, oil traded down 0.8% to $65.12, while gold traded up 0.5% to $1,729.10.
Silver traded up 1% Monday to $26.165 while copper rose 0.1% to $4.1410.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.3%, the Spanish Ibex Index rose 0.4% and the German DAX 30 dropped 0.1%. Meanwhile, the French CAC 40 rose 0.1%, London’s FTSE 100 rose 0.1% and Italy’s FTSE MIB rose 0.5%.
Wholesale prices in Germany rose 2.3% year-on-year in February following a flat reading in the previous month.
Economics
The New York Empire State Manufacturing Index climbed to 17.4 in March from 12.1 in February.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
The Treasury International Capital report for January will be released at 4:00 p.m. ET.
