Nasdaq Surges Over 1%; Lexeo Therapeutics Shares Plummet

Author: Avi Kapoor | July 15, 2024 12:05pm

U.S. stocks traded higher midway through trading, with the Nasdaq Composite rising more than 200 points on Monday.

The Dow traded up 0.73% to 40,291.69 while the NASDAQ rose 1.16% to 18,611.47. The S&P 500 also rose, gaining, 0.81% to 5,660.67.

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Leading and Lagging Sectors

Energy shares jumped by 1.6% on Monday.

In trading on Monday, utilities shares fell by 2.1%.

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 51% to $6.12 after the company announced in-vivo preclinical study results of NanoAb.
• Shares of Autonomix Medical, Inc. (NASDAQ:AMIX) got a boost, surging 149% to $1.48 after the company entered into an agreement with RF Innovations to license intellectual property for its Apex 6 Radiofrequency Generator.
• Trump Media & Technology Group Corp. (NASDAQ:DJT) shares were also up, gaining 29% to $39.98 following the attempted assassination of Donald Trump.

Equities Trading DOWN

• ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) shares dropped 44% to $1.40 after the company announced receipt of Nasdaq delisting determination.
• Shares of Catheter Precision, Inc. (NYSE:VTAK) were down 18% to $3.15. Catheter Precision announced effectiveness of 1-for-10 reverse stock split.
• Lexeo Therapeutics, Inc (NASDAQ:LXEO) was down, falling 24% to $13.31 after the company reported interim data of LX2006 for the treatment of Friedreich ataxia cardiomyopathy.

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Commodities

In commodity news, oil traded down 0.2% to $82.08 while gold traded up 0.8% at $2,439.10.

Silver traded up 0.3% to $31.26 on Monday, while copper fell 1% to $4.5475.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.91, Germany's DAX fell 0.69% and France's CAC 40 fell 1.16%. Spain's IBEX 35 Index fell 0.79%, while London's FTSE 100 fell 0.75%.

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: AMIX ASLN DJT LXEO SCNI VTAK