Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Crude Oil Gains Over 2%; PaxMedica Shares Plunge

Published 20/11/2023, 17:09
© Reuters.  Crude Oil Gains Over 2%; PaxMedica Shares Plunge
US500
-
DJI
-
GC
-
HG
-
SI
-
CL
-
IXIC
-

Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining over 100 points on Monday.

The Dow traded up 0.34% to 35,064.42 while the NASDAQ rose 0.80% to 14,238.67. The S&P 500 also rose, gaining, 0.43% to 4,534.85.

Check This Out: Home Depot, Target And 2 Other Stocks Insiders Are Selling

Leading and Lagging Sectors

Information technology shares surged by 0.8% on Monday.

In trading on Monday, utilities shares fell by 0.3%.

Top Headline

The index of leading economic indicators fell 0.8% in October.

Equities Trading UP

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) shares shot up 11% to $5.60. Goldman Sachs initiated coverage on Iovance Biotherapeutics with a Buy rating and announced a price target of $12.

Shares of Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO) got a boost, shooting 81% to $1.7905. Cardio Diagnostics announced breakthrough in coronary heart disease detection with PrecisionCHD Test, published in the Journal of the American Heart Association.

Cuentas Inc. (NASDAQ: CUEN) shares were also up, gaining 60% to $1.52 after reporting a narrower quarterly loss.

Equities Trading DOWN

NanoString Technologies, Inc. (NASDAQ: NSTG) shares dropped 47% to $0.6782. TD Cowen downgraded NanoString Technologies from Outperform to Market Perform and lowered the price target from $6 to $1.4.

Shares of PaxMedica, Inc. (NASDAQ: PXMD) were down 38% to $1.09 after the company announced pricing of $7 million public offering of 5,384,615 shares and accompanying warrants at a price of $1.30 per unit.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) was down, falling 12% to $2.8950 following weak quarterly results.

Also Check This Out: This Analyst With 84% Accuracy Rate Sees Around 22% Upside In NVIDIA - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Commodities

In commodity news, oil traded up 2.5% to $77.80 while gold traded down 0.6% at $1,973.60.

Silver traded down 1.2% to $23.57 on Monday while copper rose 1.4% to $3.7890.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.11%, London’s FTSE 100 fell 0.05% while Spain’s IBEX 35 Index rose 0.85% The German DAX fell 0.11% French CAC 40 rose 0.27%, while Italy’s FTSE MIB Index rose 0.17%.

Construction output in the Eurozone fell by 0.3% year-over-year in September. Producer prices in Germany fell by 11.0% year-over-year in October following a 14.7% decline in September.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.59%, Hong Kong’s Hang Seng Index gaining 1.86% and China’s Shanghai Composite Index gaining 0.46%. India’s S&P BSE Sensex, meanwhile, fell 0.21%.

The People's Bank of China kept lending rates unchanged at the November fixing. Malaysia’s trade surplus shrank to MYR 12.9 billion in October from MYR 18.6 billion in the year-ago month.

Economics

The index of leading economic indicators fell 0.8% in October.

Now Read This: Top 3 Industrials Stocks That May Explode This Month

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.