Crude Oil Rises 3%; US Housing Market Index Increases In December

Author: Avi Kapoor | December 18, 2023 01:17pm

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 50 points on Monday.

The Dow traded up 0.14% to 37,356.29 while the NASDAQ rose 0.25% to 14,851.19. The S&P 500 also rose, gaining, 0.37% to 4,736.45.

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Leading and Lagging Sectors

 

Communication services shares rose by 1.8% on Monday.

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

 

Top Headline

 

The NAHB/Wells Fargo Housing Market Index in the U.S. rose to 37 in December from 34 in the prior month, and topping market estimates of 36.

 

Equities Trading UP

 

Invivyd, Inc. (NASDAQ:IVVD) shares shot up 162% to $4.27 after the company announced initial results from its CANOPY Phase 3 trial of VYD222.

Shares of Biomerica, Inc. (NASDAQ:BMRA) got a boost, surging 51% to $1.49. Biomerica received FDA 510(k) clearance for its Hp Detect Stool Antigen ELISA test, designed to detect the presence of the H. pylori bacteria.

ZimVie Inc. (NASDAQ:ZIMV) shares were also up, gaining 43% to $16.04 after the company disclosed an agreement to sell its spine business to H.I.G. Capital for $375 million.

 

Equities Trading DOWN

 

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) shares dropped 47% to $1.7593. The FDA has issued a Complete Response letter to Checkpoint Therapeutics' Cosibelimab Biologic License Application for metastatic or locally advanced cutaneous squamous cell carcinoma who are not candidates for curative surgery or radiation.

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) were down 47% to $31.60 after the company announced a comprehensive development program update for GSBR-1290.

Ebix, Inc. (NASDAQ:EBIX) was down, falling 70% to $1.4905 after the company and certain US affiliates filed for protection under Chapter 11 and reached a stalking horse agreement to sell its North American Life and Annuity assets to Zinnia.

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Commodities

 

In commodity news, oil traded up 3% to $73.55 while gold traded up 0.1% at $2,036.10.

Silver traded down 0.5% to $24.045 on Monday while copper fell 0.6% to $3.8655.

 

Euro zone

 

European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.33%, London’s FTSE 100 gained 0.51% while Spain’s IBEX 35 Index fell 0.38% The German DAX fell 0.70% French CAC 40 fell 0.48%, while Italy’s FTSE MIB Index fell 0.40%.

The Ifo Business Climate indicator for Germany fell to a three-month low level of 86.4 in December versus a revised reading of 87.2 in November.

 

Asia Pacific Markets

 

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.64%, Hong Kong’s Hang Seng Index declining 0.97% and China’s Shanghai Composite Index falling 0.40%. India’s S&P BSE Sensex, meanwhile, fell 0.24%.

Singapore's non-oil domestic exports rose by 1% year-over-year in November compared to a revised 3.5% decline in October.

 

Economics

 

The NAHB/Wells Fargo Housing Market Index in the U.S. rose to 37 in December from 34 in the prior month, and topping market estimates of 36.

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Posted In: BMRA CKPT EBIX GPCR IVVD ZIMV