Crude Oil Gains 1%; US Composite PMI Surges In March

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 350 points on Monday.

The Dow traded up 1.35% to 42,551.10 while the NASDAQ climbed 2.08% to 18,119.66. The S&P 500 also rose, gaining, 1.66% to 5,761.78.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 3.2% on Monday.

In trading on Monday, health care shares gained by just 0.4%.

Top Headline

The S&P Global US Composite PMI climbed to 53.5 in March compared to February's reading of 51.6, signalling the strongest growth since December 2024.

Equities Trading UP

AnaptysBio, Inc. ANAB shares shot up 11% to $18.91 after the company announced a $75 million share buyback program.
Shares of The AZEK Company Inc. AZEKgot a boost, surging 14% to $47.23 amid an announcement that James Hardie will acquire the company for $8.75 billion.
Treasure Global Inc. TGL shares were also up, gaining 29% to $0.1422 after the company announced a strategic initiative to develop and deploy an advanced artificial intelligent cloud infrastructure in Malaysia.

Equities Trading DOWN

WANG & LEE GROUP, Inc. WLGS shares dropped 86% to $0.7049 after the company announced the pricing of $12.0 million registered direct offering.
Shares of 23andMe Holding Co. ME were down 50% to $0.8901 after the company announced it has initiated voluntary Chapter 11 bankruptcy to pursue a strategic sale and secured $35M in DIP financing.
Unity Biotechnology, Inc. UBX was down, falling 35% to $1.1867 after the company reported topline results from the ASPIRE Phase 2b study in diabetic macular edema.

Commodities

In commodity news, oil traded up 1% to $68.94 while gold traded up 0.2% at $3,027.80.

Silver traded up 0.5% to $33.660 on Monday, while copper rose 0.2% to $5.1260.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.15%, Germany's DAX 40 rose 0.28% and France's CAC 40 rose 0.09%. Spain's IBEX 35 Index rose 0.13%, while London's FTSE 100 gained 0.12%.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 falling 0.18%, China's Shanghai Composite Index rising 0.15%, Hong Kong's Hang Seng Index gaining 0.91% and India's BSE Sensex gaining 1.40%.

Economics

The Chicago Fed National Activity Index rose to 0.18 in February versus a reading of -0.08 in January.
The S&P Global services PMI climbed to 54.3 in March from 51 in February.
The S&P Global US Manufacturing PMI declined to 49.8 in March versus 52.7 in the previous month.

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