Nasdaq Surges 150 Points; US Manufacturing PMI Rises In May

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 150 points on Monday.

The Dow traded down 0.07% to 38,657.77 while the NASDAQ climbed 0.92% to 16,888.59. The S&P 500 also rose, gaining, 0.35% to 5,296.20.

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Leading and Lagging Sectors

Information technology shares rose by 1% on Monday.

In trading on Monday, energy shares fell by 0.9%.

Top Headline

The S&P Global manufacturing PMI rose to 51.3 versus a preliminary reading of 50.9, and compared to 50 in April.

Equities Trading UP
                       

• Bio-Path Holdings, Inc. BPTH shares shot up 96% to $4.0300. Bio-Path presented interim results from Phase 2 study of Prexigebersen (BP1001) in combination with decitabine and venetoclax for acute myeloid leukemia at the American Society Of Clinical Oncology Annual Meeting.
• Shares of Microbot Medical Inc. MBOT got a boost, surging 76% to $1.75 after the company received FDA approval to proceed with its pivotal human clinical trial.
• GameStop Corp. GME shares were also up, gaining 44% to $33.38 after Roaring Kitty on a Reddit post, shared his position on the stock.

Equities Trading DOWN

• CalAmp Corp. CAMP shares dropped 49% to $1.37 after the company said it has entered into a Restructuring Support Agreement with its principal secured lender, Lynrock Lake Master Fund LP, who will become the principal equity owner of CalAmp and take the Company private.
• Shares of 1847 Holdings LLC EFSH were down 38% to $0.7001.
• CNS Pharmaceuticals, Inc. CNSP was down, falling 32% to $0.1463. CNS Pharmaceuticals announced a 1-for-50 reverse stock split.

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Commodities

In commodity news, oil traded up 0.1% to $77.03 while gold traded up 0.2% at $2,350.10.

Silver traded up 0.4% to $30.555 on Monday, while copper rose 0.8% to $4.6405.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.5%, Germany's DAX rose 0.8% and France's CAC 40 gained 0.3%. Spain's IBEX 35 Index climbed 0.7%, while London's FTSE 100 gained 0.2%.

The HCOB Eurozone manufacturing PMI climbed to 47.3 in May compared to 45.7 in April, while German manufacturing PMI rose to 45.4 in May from 42.5 in April. The S&P Global France manufacturing PMI rose to 46.4 in compared to 45.3 in April, while UK manufacturing PMI gained to 51.2 from 49.1.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei gaining 1.13%, China's Composite Index falling 0.27%, Hong Kong's Hang Seng Index climbing 1.79% and India's S&P BSE Sensex jumping 3.39%.

The HSBC India Manufacturing PMI fell to 57.5 in May from 58.8 in the prior month, while Caixin China general manufacturing PMI gained to 51.7 in May from 51.4 a month ago. The au Jibun Bank Japan manufacturing PMI rose to 50.4 in May from 49.6 in the earlier month.

Economics

The S&P Global manufacturing PMI rose to 51.3 versus a preliminary reading of 50.9, and compared to 50 in April

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