Nasdaq Gains 1%; Chicago Fed National Activity Falls In June

Author: Avi Kapoor | July 22, 2024 09:44am

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 1% on Monday.

Following the market opening Monday, the Dow traded up 0.37% to 40,436.13 while the NASDAQ rose 1.10% to 17,921.40. The S&P 500 also rose, gaining, 0.72% to 5,544.40.

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Leading and Lagging Sectors

Information technology shares jumped by 1.3% on Monday.

In trading on Monday, energy shares fell by 0.2%.

Top Headline

The Chicago Fed National Activity index fell to 0.05 for June, versus previous reading of 0.23. However, analysts were expecting a reading of -0.09.

Equities Trading UP
                       

• MIRA Pharmaceuticals, Inc. (NASDAQ:MIRA) shares shot up 135% to $1.62 after the company announced new preclinical study results for its novel oral ketamine analog, Ketamir-2.
• Shares of Tellurian Inc. (NASDAQ:TELL) got a boost, surging 65% to $0.9402 after the company announced it will be acquired by Woodside Energy for approximately $900 million.
• Serve Robotics Inc. (NASDAQ:SERV) shares were also up, gaining 55% to $11.69 fo after Nvidia last week disclosed a stake in the company.

Equities Trading DOWN

• Exicure, Inc. (NASDAQ:XCUR) shares dropped 23% to $0.4090 after surging 76% on Friday.
• Shares of SunPower Corporation (NASDAQ:SPWR) were down 23% to $0.5247. SunPower reportedly paused new product shipments.
• PS International Group Ltd. (NASDAQ:PSIG) was down, falling 18% to $2.77.

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Commodities

In commodity news, oil traded down 0.6% to $79.68 while gold traded down 0.1% at $2,398.80.

Silver traded down 0.9% to $29.025 on Monday, while copper fell 1.3% to $4.1815.

Euro zone

European shares were higher today. The eurozone's STOXX 600 climbed 1.2%, Germany's DAX gained 1.4% and France's CAC 40 climbed 1.4%. Spain's IBEX 35 Index rose 0.7%, while London's FTSE 100 rose 0.8%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 1.16%, Hong Kong's Hang Seng Index gaining 1.25%, China's Shanghai Composite Index declining 0.61% and India's S&P BSE Sensex declining 0.13%.

The annual inflation rate in Hong Kong rose to 1.5% in June from 1.2% in the prior month. The People’s Bank of China slashed one-year loan prime rate by 10bps to 3.35%.

Economics

The Chicago Fed National Activity index fell to 0.05 for June, versus previous reading of 0.23. However, analysts were expecting a reading of -0.09.

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Posted In: MIRA PSIG SERV SPWR TELL XCUR