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.
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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.
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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.
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