Crude Oil Surges Over 1%; Instil Bio Shares Plunge

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling around 1% on Monday.

The Dow traded up 0.29% to 41,512.19 while the NASDAQ fell 0.96% to 17,514.54. The S&P 500 also fell, dropping, 0.24% to 5,612.35.

Check This Out: This Analyst With 86% Accuracy Rate Sees Around 9% Upside In RH – Here Are 5 Stock Picks For Last Week From Wall Street’s Most Accurate Analysts

Leading and Lagging Sectors

Energy shares jumped by 1.1% on Monday.

In trading on Monday, information technology shares fell by 0.9%.

Top Headline

The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.

Equities Trading UP
                       

• NuCana plc NCNA shares shot up 151% to $6.36 after the company announced final data from the Phase 2 NuTide:701 study at the ESMO Congress on NUC-7738 in combination with pembrolizumab for patients with metastatic melanoma who were refractory to or had relapsed on prior PD-1 inhibitor therapy.
• Shares of Ascendis Pharma A/S ASND got a boost, surging 17% to $139.84 after the company announced topline data from its pivotal approach trial of Transcon CNP (Navepegritide).
• Nuvalent, Inc. NUVL shares were also up, gaining 28% to $111.60 after the company highlighted results for its ROS1 and ALK-Positive NSCLC programs and accelerated its development timeline. Also, the company announced a $350 million public offering and multiple firms raised their respective price targets on the stock.

Equities Trading DOWN

• Instil Bio, Inc. TIL shares dropped 25% to $63.50. The company announced the global registrational strategy for the PD-L1xVEGF bispecific antibody SYN-2510/IMM2510 in combination with chemotherapy in front-line non-small cell lung cancer and in front-line triple-negative breast cancer.
• Shares of Sterling Bancorp, Inc. SBT were down 17% to $4.7723 after the company announced the sale of Sterling Bank and Trust F.S.B. to EverBank Financial Corp. Also, the company adopted a plan of dissolution and expects to wind down as quickly as possible after the sale.
• iTeos Therapeutics, Inc. ITOS was down, falling 20% to $13.44. The company announced follow-up interim data from GALAXIES Lung-201,

Commodities

In commodity news, oil traded up 1.4% to $69.66 while gold traded up 0.2% at $2,616.10.

Silver traded up 0.8% to $31.325 on Monday, while copper rose 1.1% to $4.2840.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.21%, Germany's DAX fell 0.42% and France's CAC 40 fell 0.22%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 fell 0.06%.

The Eurozone recorded a trade surplus of EUR 21.2 billion in July, higher than market estimates of EUR 14.9 billion. Wages in the Eurozone increased 4.5% year-over-year in the second quarter, while hourly labor costs climbed by 4.7% year-over-year in the quarter. Italy reported a trade surplus of EUR 6.743 billion in July versus a year-ago surplus of EUR 6.108 billion.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Hong Kong's Hang Seng Index gaining 0.31% and India's BSE Sensex gaining 0.12%.

Total passenger vehicle sales in India declined 1.6% year-over-year to 308,779 in August versus a 1.9% decline in the prior month.

Economics

The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.

Now Read This:

• How To Earn $500 A Month From Sunoco Stock