Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining over 100 points on Monday.
The Dow traded up 0.42% to 34,490.80 while the NASDAQ rose 0.62% to 13,674.49. The S&P 500, also rose, gaining, 0.42% to 4,424.26.
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Leading and Lagging Sectors
Real estate shares jumped by 0.9% on Monday.
In trading on Monday, consumer discretionary shares fell by 0.2%.
Top Headline
Hersha Hospitality Trust (NYSE: HT) announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.
Equities Trading UP
Hawaiian Electric Industries, Inc. (NYSE: HE) shares shot up 40% to $13.52 after the company released an in-depth response to the lawsuit recently filed by the County of Maui surrounding the tragic fires on August 8.
Shares of GD Culture Group Limited (NASDAQ: GDC) got a boost, shooting 43% to $3.64 after it announced the launch of live-streaming e-commerce business on TikTok, a popular social media platform.
Hersha Hospitality Trust (NYSE: HT) shares were also up, gaining 56% to $9.81 after it announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.
Equities Trading DOWN
AgileThought, Inc. (NASDAQ: AGIL) shares dropped 33% to $0.1751. Alliance Global Partners downgraded AgileThought from Buy to Sell.
Shares of NovoCure Limited (NASDAQ: NVCR) were down 36% to $19.00 after the company announced its Phase 3 ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial of TTFields with paclitaxel did not meet its primary endpoint.
Ideanomics, Inc. (NASDAQ: IDEX) was down, falling 18% to $3.5084 after the company reported results for the second quarter.
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Commodities
In commodity news, oil traded up 0.3% to $80.06 while gold traded up 0.4% at $1,947.50.
Silver traded up 0.1% to $24.26 on Monday while copper fell 0.1% to $3.7575.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.89% while Spain’s IBEX 35 Index rose 1.62% The German DAX rose 1.03% French CAC 40 gained 1.32%, while Italy’s FTSE MIB Index surged 1.19%.
M3 money supply in the Eurozone fell 0.4% year-over-year to EUR 15.6 trillion in July 2023, compared to a 0.6% growth in June. Bank lending to households in the Eurozone increased by 1.3% year-over-year to EUR 6.86 trillion in July.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan’s Nikkei 225 gaining 1.73%, China’s Shanghai Composite Index climbing 1.13% and Hong Kong’s Hang Seng Index gaining 0.97%. India’s S&P BSE Sensex, meanwhile, rose 0.3%.
The index of coincident economic indicators in Japan was revised lower to 115.1 in June from preliminary reading of 115.2, while index of leading economic indicators was confirmed at 108.9 in June compared to a final level of 109.1 a month ago. Profits earned by Chinese industrial firms dipped by 15.5% from a year ago to CNY 3,943.98 billion during the first seven months of the year.
Economics
The Federal Reserve Bank of Dallas’ general business activity index for manufacturing in Texas rose to -17.2 in August, topping market expectations of -21.6.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,969,970 cases with around 1,173,390 deaths. India confirmed a total of at least 44,996,960 cases and 531,920 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 694,215,410 cases of COVID-19 worldwide with more than 6,910,770 deaths.
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