Following the market opening Monday, the Dow traded up 0.32% to 34,981.25 while the NASDAQ fell 0.07% to 14,691.53. The S&P also rose, gaining 0.15% to 4,376.17.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,854,110 cases with around 607,150 deaths. India confirmed a total of at least 30,874,370 cases and 408,760 deaths, while Brazil reported over 19,089,940 COVID-19 cases with 533,480 deaths. In total, there were at least 186,846,570 cases of COVID-19 worldwide with more than 4,032,630 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Financial shares rose by 0.8% on Monday. Meanwhile, top gainers in the sector included State Auto Financial Corporation (NASDAQ: STFC), up 190%, and Upstart Holdings, Inc.. (NASDAQ: UPST), up 5%.
In trading on Monday, utilities shares fell 0.3%.
Top Headline
Novo Nordisk A/S (NYSE: NVO) will acquire Prothena Corporation plc’s (NASDAQ: PRTA) clinical stage antibody PRX004 and broader ATTR amyloidosis program.
PRX004 is a Phase 2 ready immunotherapy designed to deplete the amyloid deposits associated with the disease pathology of ATTR amyloidosis. Under the terms of the agreement, Prothena is eligible to receive milestone payments of up to $1.2 billion, including $100 million in upfront and near-term clinical milestone payments.
Equities Trading UP
State Auto Financial Corporation (NASDAQ: STFC) shares shot up 190% to $50.00 after the company agreed to be acquired by Liberty Mutual Insurance for $52 per share in cash.
Shares of Tempest Therapeutics Inc. (NASDAQ: TPST) got a boost, shooting 96% to $30.65 after jumping around 50% on Friday.
SGOCO Group, Ltd. (NASDAQ: SGOC) shares were also up, gaining 110% to $20.51 after jumping around 280% on Friday.
Check out these big movers of the day
Equities Trading DOWN
Moving iMage Technologies, Inc. (NASDAQ: MITQ) shares tumbled 31% to $11.02 after dropping over 33% on Friday. Moving iMage Technologies recently priced its initial public offering of 4.2 million common shares at $3 per share.
Shares of Sentage Holdings Inc. (NASDAQ: SNTG) were down 20% to $28.06. Sentage shares surged around 600% on Friday as the company priced its IPO at $5 per share.
AgriFORCE Growing Systems, Ltd. (NASDAQ: AGRI) was down, falling 17% to $4.65. AgriFORCE Growing Systems shares surged over 21% on Friday as the company priced its IPO at $5 per unit.
Commodities
In commodity news, oil traded down 1.8% to $73.21, while gold traded down 0.6% to $1,800.70.
Silver traded down 0.9% Monday to $25.99 while copper fell 1% to $4.3025.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.1%, the Spanish Ibex Index fell 0.6% and the German DAX 30 declined 0.2%. Meanwhile, the London’s FTSE 100 dropped 0.7%, French CAC 40 fell 0.4% and Italy’s FTSE MIB declined 0.1%.
Wholesale prices in Germany surged 10.7% year-over-year in June following a 9.7% rise in April.
Economics
The Treasury is set to auction 6-month bills and 3-year notes at 11:30 a.m. ET.
Federal Reserve Bank of Minneapolis President Neel Kashkari will speak at 12:00 p.m. ET.
The Treasury is set to auction 3-month bills and 10-year notes at 1:00 p.m. ET.
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