Dow Jumps Over 100 Points; Chicago Fed National Activity Rises In March

Author: Avi Kapoor | April 22, 2024 09:41am

U.S. stocks traded higher this morning, with the Dow Jones gaining over 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.31% to 38,104.99 while the NASDAQ rose 0.62% to 15,376.02. The S&P 500 also rose, gaining, 0.40% to 4,987.10.

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Leading and Lagging Sectors

Information technology shares climbed by 0.8% on Monday.

In trading on Monday, energy shares fell by 0.4%.

Top Headline

The Chicago Fed National Activity Index increased to +0.15 in March versus a revised reading of +0.09 in the previous month, topping market estimates of +0.09.

Equities Trading UP
                       

• Moolec Science SA (NASDAQ:MLEC) shares shot up 118% to $3.0150 after the company announced that it received USDA approval for plant-grown animal proteins.
• Shares of NewGenIvf Group Limited (NASDAQ:NIVF) got a boost, surging 76% to $1.30 after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.
• SuperCom Ltd. (NASDAQ:SPCB) shares were also up, gaining 36% to $0.2987 after the company reported better-than-expected fourth-quarter results.

Equities Trading DOWN

• Vaxxinity, Inc. (NASDAQ:VAXX) shares dropped 58% to $0.2001 after the company announced its intention to voluntarily delist and deregister its Class A common stock.
• Shares of Hepion Pharmaceuticals, Inc. (NASDAQ:HEPA) were down 37% to $1.33 after the company announced that it began wind-down activities in its Phase 2b “ASCEND-NASH Trial.
• Connexa Sports Technologies Inc. (NASDAQ:YYAI) was down, falling 57% to $0.8945.

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Commodities

In commodity news, oil traded down 0.1% to $83.07 while gold traded down 2.4% at $2,356.80.

Silver traded down 4.6% to $27.525 on Monday, while copper rose 0.2% to $4.5055.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.4%, London's FTSE 100 rose 1.6% while Spain's IBEX 35 Index climbed 1% The German DAX gained 0.5% French CAC 40 rose 0.2% while Italy's FTSE MIB Index fell 1%.

Eurozone's government deficit to GDP ratio fell to 3.6% in 2023 compared to a revised 3.7% in the prior year.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 1%, Hong Kong's Hang Seng Index gaining 1.77%, China's Shanghai Composite falling 0.67% and India's S&P BSE Sensex gaining 0.77%.

The People’s Bank of China maintained its key lending rates at the April fixing.

Economics

The Chicago Fed National Activity Index increased to +0.15 in March versus a revised reading of +0.09 in the previous month, topping market estimates of +0.09.

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Posted In: HEPA MLEC NIVF SPCB VAXX YYAI