Mid-Day Market Update: Dow Up Over 200 Points; Tilray Shares Spike Higher

Midway through trading Monday, the Dow traded up 0.84 percent to 26,006.79 while the NASDAQ climbed 0.86 percent to 8,014.12. The S&P also rose, gaining 0.65 percent to 2,893.24.

Leading and Lagging Sectors

On Monday, the financial shares rose 1.5 percent. Meanwhile, top gainers in the sector included China Rapid Finance Limited XRF up 15 percent, and Kansas City Life Insurance Company KCLI up 10 percent.

In trading on Monday, utilities shares fell 0.88 percent.

Top Headline

American Woodmark Corporation AMWD reported better-than-expected earnings for its fiscal first quarter.

American Woodmark posted quarterly earnings of $2.04 per share on revenue of $429 million. However, analysts were expecting earnings of $1.92 per share on revenue of $429 million.

Equities Trading UP

Tilray, Inc. TLRY shares shot up 20 percent to $52.6807. The Canada-based cannabis company said its fully owned subsidiary was selected by the province of Nova Scotia to supply cannabis products for sale to the public ahead of the recreational legalization of cannabis in October.

Shares of Cronos Group Inc. CRON got a boost, shooting up 21 percent to $12.07 after surging 16.39 percent on Friday.

Obalon Therapeutics, Inc. OBLN shares were also up, gaining 9 percent to $3.03 after reporting closing of $10 million private placement.

Equities Trading DOWN

Eidos Therapeutics, Inc. EIDX shares dropped 29 percent to $14.35. The decline is being attributed to rival company Pfizer's positive clinical data from its trial of tafamidis.

Shares of Fuwei Films (Holdings) Co., Ltd. FFHL were down 9 percent to $2.14.

Seven Stars Cloud Group, Inc. SSC was down, falling around 13 percent to $4.75.

Commodities

In commodity news, oil traded up 0.01 percent to $68.72 while gold traded up 0.22 percent to $1,216.00.

Silver traded up 0.26 percent Monday to $14.94, while copper rose 0.42 to $2.7345.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 rose 0.50 percent, the Spanish Ibex Index rose 0.72 percent, while Italy’s FTSE MIB Index rose 0.23 percent. Meanwhile the German DAX climbed 1.12 percent, and the French CAC 40 climbed 0.88 percent while U.K. shares rose 0.19 percent.

Economics

The Chicago Fed National Activity Index dropped to a reading of +0.13 in July, compared to +0.48 in June.

The Dallas Fed manufacturing business index rose to 30.90 for August, versus prior reading of 17.00.

The Treasury will auction 2-year notes at 1:00 p.m. ET.