US Stocks Edge Higher; Chicago Fed National Activity Increases In August

U.S. stocks traded slightly higher this morning, with the Dow Jones index gaining around 0.1% on Monday.

Following the market opening Monday, the Dow traded up 0.05% to 42,085.59 while the NASDAQ rose 0.02% to 17,951.13. The S&P 500 also rose, gaining, 0.10% to 5,708.21.

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Leading and Lagging Sectors

Real estate shares jumped by 1.1% on Monday.

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

Top Headline

The Chicago Fed National Activity Index rose to +0.12 in August versus a revised reading of -0.42 in the previous month and better than market expectations of -0.20.

Equities Trading UP
                       

• Kaival Brands Innovations Group, Inc. KAVL shares shot up 125% to $1.30 after the company and Delta Corp Holdings entered a merger and share exchange agreement.
• Shares of Nuvve Holding Corp. NVVE got a boost, surging 110% to $8.25 after tumbling over 16% on Friday.
• Treasure Global Inc. TGL shares were also up, gaining 80% to $1.2399.

Equities Trading DOWN

• Elevai Labs Inc. ELAB shares dropped 59% to $0.1140 after the company announced the pricing of an $8.0 million public offering.
• Shares of Jin Medical International Ltd. ZJYL were down 26% to $3.03.
• PainReform Ltd. PRFX was down, falling 23% to $0.5964. The company recently announced findings regarding the compatibility of sutures in human clinical trials of PRF-110

Commodities

In commodity news, oil traded down 0.1% to $70.92 while gold traded up 0.1% at $2,647.70.

Silver traded down 1.4% to $31.075 on Monday, while copper fell 0.4% to $4.3265.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.3%, Germany's DAX gained 0.6% and France's CAC 40 slipped 0.1%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.

Spain’s trade deficit narrowed to EUR 3.2 billion in July from EUR 4.9 billion in the year-ago month. The manufacturing climate indicator in France slipped to 98.6 in September from 98.9 in the prior month.

The S&P Global UK composite PMI declined to 52.9 in September from 53.8 in August, and down from market estimates of 53.5. German composite PMI declined for a fourth consecutive month to 47.2 in September, while French composite PMI declined to 47.4 in September versus 53.1 in the earlier month.

The HCOB Eurozone manufacturing PMI slipped to 44.8 in September from 45.8 in the prior month, while services PMI declined to 50.5 in September from 52.9 in August.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Hong Kong's Hang Seng Index falling 0.06%, China's Shanghai Composite Index gaining 0.44% and India's BSE Sensex gaining 0.45%.

The People's Bank of China unexpectedly cut the 14-day reverse repurchase rate by 10bps on Sept. 23.

Economics

The Chicago Fed National Activity Index rose to +0.12 in August versus a revised reading of -0.42 in the previous month and better than market expectations of -0.20.

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