Crude Oil Rises Sharply; US Homebuilder Sentiment Surges In November

U.S. stocks traded mostly higher midway through trading, with the Nasdaq Composite gaining by more than 100 points on Monday.

The Dow traded down 0.04% to 43,427.62 while the NASDAQ rose 0.69% to 18,809.65. The S&P 500 also rose, gaining, 0.42% to 5,895.43.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1.5% on Monday.

In trading on Monday, information technology shares fell by 0.3%.

Top Headline

The NAHB/Wells Fargo Housing Market Index climbed to 46 in November, recording the highest reading in seven months, compared to 43 in October.

Equities Trading UP
                       

• HCW Biologics Inc. HCWB shares shot up 237% to $1.02 after the company entered into an exclusive licensing deal with WY Biotech for immunotherapy development.
• Shares of Amylyx Pharmaceuticals, Inc. AMLX got a boost, surging 17% to $5.55 after Baird upgraded the stock from Neutral to Outperform and raised its price target from $3 to $11.
• Twist Bioscience Corporation TWST shares were also up, gaining 11% to $40.80 after the company reported better-than-expected fourth-quarter EPS and sales.

Equities Trading DOWN

• CareMax, Inc. CMAX shares dropped 54% to $0.7812. CareMax reached agreements to sell Management Services Organization and Core Centers’ assets.
• Shares of Neurogene Inc. NGNE were down 39% to $21.00 after the company announced it brought its high-dose gene therapy trial to a halt after a serious adverse event in a Rett syndrome patient.
• IonQ, Inc. IONQ was down, falling 22% to $22.79.

Commodities

In commodity news, oil traded up 2.8% to $68.88 while gold traded up 1.8% at $2,616.60.

Silver traded up 2.3% to $31.12 on Monday, while copper rose 0.4% to $4.0805.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.33%, Germany's DAX fell 0.32% and France's CAC 40 fell 0.11%. Spain's IBEX 35 Index fell 0.15%, while London's FTSE 100 rose 0.31%.

The Eurozone reported a trade surplus of €12.5 billion in September versus a year-ago surplus of €9.8 billion, compared to market expectations of €7.9 billion.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 falling 1.09%, Hong Kong's Hang Seng Index gaining 0.77%, China's Shanghai Composite Index declining 0.21%  and India's BSE Sensex falling 0.31%.

Economics

The NAHB/Wells Fargo Housing Market Index climbed to 46 in November, recording the highest reading in seven months, compared to 43 in October.

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