Crude Oil Gains Over 1%; US Budget Deficit Narrows For October

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

The Dow traded up 0.16% to 34,337.33 while the NASDAQ fell 0.11% to 13,783.41. The S&P 500 also fell, dropping, 0.01% to 4,414.86.

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Leading and Lagging Sectors

Health care shares surged by 0.7% on Monday.

In trading on Monday, utilities shares fell by 1.1%.

Top Headline

The U.S. Treasury said the federal budget deficit narrowed by 24% to $67 billion in October from $88 billion a year ago.

Equities Trading UP

Tenax Therapeutics, Inc TENX shares shot up 297% to $0.6199 after the company received FDA clearance of the IND for TNX-103, an oral levosimendan, to treat pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF).

Shares of Tivic Health Systems, Inc. TIVC got a boost, shooting 54% to $1.8504. BestGrowthStocks.Com issued comprehensive analysis of Tivic Health Systems.

Montauk Renewables, Inc. MNTK shares were also up, gaining 30% to $8.39. Scotiabank upgraded Montauk Renewables from Sector Perform to Sector Outperform and announced a $9 price target.

Equities Trading DOWN

Aclaris Therapeutics, Inc. ACRS shares dropped 86% to $0.6756 after the company released topline results from a Phase 2b study of zunsemetinib (ATI-450) in subjects with moderate to severe rheumatoid arthritis. Analysts at William Blair and Stifel also downgraded the stock.

Shares of Mainz Biomed N.V. MYNZ were down 46% to $1.2150 after the company reported pricing of $5 million registered direct offering of 4,166,667 shares at $1.20 per share.

Verve Therapeutics, Inc. VERV was down, falling 40% to $9.49 after the company announced first human proof-of-concept data for in vivo base editing from the ongoing heart-1 phase 1b clinical trial of VERVE-101.

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Commodities

In commodity news, oil traded up 1.4% to $78.21 while gold traded up 0.7% at $1,951.20.

Silver traded up 0.4% to $22.375 on Monday while copper rose 2.3% to $3.6685.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.75%, London’s FTSE 100 rose 0.89% while Spain’s IBEX 35 Index rose 0.96% The German DAX rose 0.73% French CAC 40 rose 0.60%, while Italy’s FTSE MIB Index climbed 1.48%.

German current account increased to EUR 28.1 billion in September from EUR 12.5 billion in the year-ago month.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 rising 0.05%, Hong Kong’s Hang Seng Index gaining 1.30% and China’s Shanghai Composite Index gaining 0.25%. India’s S&P BSE Sensex, meanwhile, fell around 0.5%.

Producer prices in Japan increased by 0.8% year-over-year in October versus a revised 2.2% rise in the earlier month. Japanese machine tool orders dipped 20.6% year-over-year to JPY 112,027 million in October compared to an 11.2% decline in the prior month. Total passenger vehicle sales in India jumped by 17.3% year-over-year to 341,377 in October compared to a 3.1% increase in the prior month.

Economics