Nasdaq Rises More Than 1%; Housing Market Index Tumbles To This Much Low Level

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Monday.

The Dow traded up 0.55% to 31,460.80 while the NASDAQ rose 1.15% to 11,584.68. The S&P also rose to 3,890.32.

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Leading and Lagging Sectors

Energy shares rose 2.8% on Monday. Meanwhile, top gainers in the sector included North European Oil Royalty Trust NRT, up 20% and BP Prudhoe Bay Royalty Trust BPT up 14%.

In trading on Monday, utilities shares fell by 0.7%.

Top Headline

The NAHB housing market index fell to 55 in July, recording the weakest reading since May 2020, down from June’s reading of 67. Analysts, however, were expecting a reading of 65.

Equities Trading UP

Tantech Holdings Ltd TANH shares shot up 63% to $0.4228 after the company posted a narrower FY loss.

Shares of Qudian Inc. QD got a boost, shooting 52% to $1.8050 after the company highlighted progress in its QD Food brand and said its 717 Foodies Festival fueled sales of approximately 9.56 million dishes.

Advent Technologies Holdings, Inc. ADN shares were also up, gaining 26% to $3.3037 after the company's Green HiPo project received official ratification from the European Commission.

Equities Trading DOWN

United Maritime Corporation USEA shares tumbled 54% to $2.7850 after the company reported pricing of $26 million offering.

Shares of Mawson Infrastructure Group, Inc. MIGI were down 11% to $0.90 after the company announced a $6.4 million registered direct offering.

Sesen Bio, Inc. SESN was down, falling 29% to $0.6350. Based on a thorough reassessment, Sesen Bio has decided to voluntarily pause further development in the U.S. of its lead asset, Vicineum, for non-muscle invasive bladder cancer.
G Medical Innovations Holdings Ltd GMVD dropped 23.6% to $0.71.

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Commodities

In commodity news, oil traded up 4% to $101.44, while gold traded up 0.5% to $1,712.60.

Silver traded up 1.6% to $18.885 on Monday while copper rose 4.1% to $3.3655.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 climbed 0.94%, London’s FTSE 100 rose 0.96% while Spain’s IBEX 35 Index rose 0.14%. The German DAX gained 0.64%, French CAC 40 rose 0.92% and Italy’s FTSE MIB Index gained 0.96%.

Spain recorded a trade deficit of EUR 4.76 billion in May versus a year-ago surplus of EUR 0.14 billion. Italy reported a trade deficit of EUR 12 million in May compared to a surplus of EUR 5.6 billion in the year-ago month.

Economics

The NAHB housing market index fell to 55 in July, recording the weakest reading since May 2020, down from June’s reading of 67. Analysts, however, were expecting a reading of 65.

The Treasury International Capital report for May is scheduled for release at 4:00 p.m. ET.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 91,275,140 cases with around 1,048,238400 deaths. India confirmed a total of at least 43,767,530 cases and 525,760 deaths, while Brazil reported over 33,301,110 COVID-19 cases with 675,400 deaths. In total, there were at least 567,876,200 cases of COVID-19 worldwide with more than 6,387,860 deaths.