Mid-Morning Market Update: Markets Mostly Lower; Accenture To Acquire German Engineering Company

Following the market opening Monday, the Dow traded down 0.43% to 34,332.41 while the NASDAQ rose 0.24% to 14,102.61. The S&P also fell, dropping 0.20% to 4,238.80.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,462,280 cases with around 599,760 deaths. India confirmed a total of at least 29,510,410 cases and 374,300 deaths, while Brazil reported over 17,412,760 COVID-19 cases with 487,400 deaths. In total, there were at least 176,001,660 cases of COVID-19 worldwide with more than 3,805,010 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares climbed 0.6% on Monday. Meanwhile, top gainers in the sector included SEACOR Marine Holdings Inc. SMHI, up 3%, and BP Prudhoe Bay Royalty Trust BPT, up 3%.

In trading on Monday, materials shares fell 1.1%.

Top Headline

Accenture PLC ACN agreed to acquire Aachen, Germany's engineering consulting and services firm, umlaut.

The financial terms of the transaction remain undisclosed

 

Equities Trading UP

Enochian Biosciences, Inc. ENOB shares shot up 130% to $10.13. The FDA has accepted Enochian BioSciences Inc's pre-IND (Investigational New Drug) request for a potential functional cure or treatment of HIV.

Shares of RAPT Therapeutics, Inc. RAPT got a boost, shooting 88% to $35.00 as the company announced topline results from its Phase 1b trial of RPT193 as monotherapy for moderate-to-severe atopic dermatitis (AD).

iTeos Therapeutics, Inc. ITOS shares were also up, gaining 36% to $27.20. iTeos Therapeutics and GlaxoSmithKline plc have agreed to co-develop and co-commercialize EOS-448, an anti-TIGIT monoclonal antibody.

Check out these big movers of the day

Equities Trading DOWN

Washington Prime Group Inc. WPG shares tumbled 41% to $2.86 after the company filed for Chapter 11 bankruptcy.

Shares of Avenue Therapeutics, Inc. ATXI were down 39% to $2.57 after the company received a second Complete Response Letter from the FDA regarding its marketing application seeking approval for IV tramadol.

Baosheng Media Group Holdings Limited. BAOS was down, falling 22% to $3.92.

Commodities

In commodity news, oil traded up 0.7% to $71.40, while gold traded down 1.2% to $1,856.30.

Silver traded down 1.2% Monday to $27.805 while copper fell 0.2% to $4.5280.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.2%, the Spanish Ibex Index rose 0.6% and the German DAX 30 rose 0.2%. Meanwhile, the London’s FTSE 100 gained 0.5%, French CAC 40 climbed 0.2% and Italy’s FTSE MIB rose 0.1%.

Eurozone industrial production increased 0.8% in April versus a revised 0.4% rise in the previous month.

Economics

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

Check out the full economic calendar here