Dow Jumps Over 200 Points; NY Empire State Manufacturing Index Falls In July

Author: Avi Kapoor | July 15, 2024 09:47am

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Monday.

Following the market opening Monday, the Dow traded up 0.62% to 40,249.41 while the NASDAQ rose 0.52% to 18,493.58. The S&P 500 also rose, gaining, 0.44% to 5,639.94.

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Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Monday.

In trading on Monday, utilities shares fell by 1.3%.

Top Headline

The NY Empire State Manufacturing Index fell to a reading of -6.6 in July, compared to market estimates of -6.

Equities Trading UP
                       

• Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) shares shot up 107% to $8.39 after the company announced in-vivo preclinical study results of NanoAb.
• Shares of DatChat, Inc. (NASDAQ:DATS) got a boost, surging 71% to $1.81.
• MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares were also up, gaining 54% to $0.91 after the company said testing confirmed MIRA’s preliminary beliefs regarding potential treatment for neurological and neuropsychiatric disorders.

Equities Trading DOWN

• ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) shares dropped 42% to $1.46 after the company announced receipt of Nasdaq delisting determination.
• Shares of Qualigen Therapeutics, Inc. (NASDAQ:QLGN) were down 21% to $0.3430 after jumping 109% on Friday.
• Lexeo Therapeutics, Inc (NASDAQ:LXEO) was down, falling 21% to $13.82 after the company reported interim Phase 1/2 clinical data of LX2006 for the treatment of friedreich ataxia cardiomyopathy.

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Commodities

In commodity news, oil traded down 0.2% to $82.07 while gold traded up 0.1% at $2,423.60.

Silver traded down 0.4% to $31.05 on Monday, while copper fell 1% to $4.5475.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX fell 0.4% and France's CAC 40 fell 0.6%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 fell 0.3%.

Industrial production in the Eurozone declined 0.6% month-over-month in May following a flat reading in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index falling 1.52%, China's Shanghai Composite Index gaining 0.09% and India's S&P BSE Sensex gaining 0.18%.

Indian merchandise trade deficit increased to $21 billion in June from $20.1 billion in the year-ago period, while wholesale prices rose by 3.36% year-over-year in June following a 2.61% increase in the prior month. Total passenger vehicle sales in India surged 5.0% year-over-year to 294,133 in June.

Chinese retail sales increased by 2% year-over-year in June, while industrial production climbed by 5.3% year-over-year in June. The Chinese economy expanded by 0.7% in the second quarter, compared to a revised 1.5% increase in the prior quarter.

Economics

The NY Empire State Manufacturing Index fell to a reading of -6.6 in July, compared to market estimates of -6.

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Posted In: ASLN DATS LXEO MIRA QLGN SCNI