S&P 500 Moves Higher; Avinger Shares Jump

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining around 50 points on Monday.

The Dow traded up 0.15% to 34,670.16 while the NASDAQ rose 0.15% to 13,729.44. The S&P 500 also rose, gaining, 0.19% to 4,458.71.

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Leading and Lagging Sectors

Energy shares rose by 0.7% on Monday.

In trading on Monday, consumer discretionary shares fell by 0.7%.

 

Top Headline

The NAHB/Wells Fargo Housing Market Index fell for a second month to a reading of 45 in September, recording the weakest level in five months, compared to 50 in August and versus market estimates of 50.

 

Equities Trading UP

Nikola Corporation NKLA shares shot up 33% to $1.58 after the company announced the appointment of a new chief operating officer.

Shares of Avinger, Inc. AVGR got a boost, shooting 67% to $6.91 amid the company announcing the commercial launch of its Tigereye ST image-guided CTO crossing device.

SeqLL Inc. SQL shares were also up, gaining 39% to $18.35 after the company announced the date of its cash and stock dividend.

 

Equities Trading DOWN

Canopy Growth Corporation CGC shares dropped 10% to $1.2150 after the company announced a private placement of up to $50 million.

Shares of Rubicon Technologies, Inc. RBT were down 14% to $0.3699. Rubicon Technologies reported a 1-for-8 reverse stock split.

AgriFORCE Growing Systems Ltd. AGRI was down, falling 24% to $0.11. AgriFORCE Growing Systems announced commercial launch and first purchase order for its AgriFORCE-RCS Hydroxyl Device.

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Commodities

In commodity news, oil traded up 1.1% to $91.73 while gold traded up 0.3% at $1,951.30.

Silver traded up 0.3% to $23.45 on Monday while copper fell 0.6% to $3.7770.

 

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.13% London’s FTSE 100 fell 0.76% while Spain’s IBEX 35 Index fell 0.71% The German DAX fell 1.05% French CAC 40 fell 1.39%, while Italy’s FTSE MIB Index fell 1.07%.

The BNP Paribas Real Estate Construction PMI for Ireland fell to 44.9 in August versus 45.6 in July.

 

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 1.10%, Hong Kong’s Hang Seng Index rising 0.75% and China’s Shanghai Composite Index falling 0.28%. India’s S&P BSE Sensex, meanwhile, rose 0.5%.

Singapore's non-oil domestic exports dipped by 20.1% year-over-year in August following a revised 20.3% decline in July.

 

Economics

The NAHB/Wells Fargo Housing Market Index fell for a second month to a reading of 45 in September, recording the weakest level in five months, compared to 50 in August and versus market estimates of 50.

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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 108,429,330 cases with around 1,175,170 deaths. India confirmed a total of at least 44,998,160 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,367,540 cases of COVID-19 worldwide with more than 6,915,950 deaths.