Crude Oil Down Over 1%; Deciphera Pharmaceuticals Shares Spike Higher

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 0.2% on Monday.

Following the market opening Monday, the Dow traded up 0.17% to 38,304.92 while the NASDAQ rose 0.23% to 15,964.76. The S&P 500 also rose, gaining, 0.20% to 5,110.37                                         .

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1.7% on Monday.

In trading on Monday, communication services shares fell by 1.7%.

Top Headline

Domino's Pizza Inc DPZ reported better-than-expected first-quarter earnings.

Domino's Pizza reported first-quarter FY24 sales growth of 6% year-on-year to $1.085 billion, beating the analyst consensus estimate of $1.079 billion. EPS of $3.58 beat the analyst consensus estimate of $3.42.

Global retail sales increased 7.3%, excluding the impact of foreign currency. Same-store sales in the U.S. grew 5.6%, while International same-store sales (excluding foreign currency impact) increased 0.9%.

Equities Trading UP
                       

• Deciphera Pharmaceuticals, Inc. DCPH shares shot up 72% to $25.21 after the company announced it will be acquired by ONO Pharmaceutical for $25.60 per share in cash.
• Shares of Collective Audience, Inc.  CAUD got a boost, surging 103% to $0.8016 after the company announced a strategic partnership with Insticator.
• Koninklijke Philips N.V.  PHG shares were also up, gaining 29% to $27.26 after the company announced $1.1 billion settlement for Respironics personal injury and medical monitoring litigation. The company also reported better than expected first-quarter earnings and reaffirmed guidance.

Equities Trading DOWN

• Clever Leaves Holdings Inc. CLVR shares dropped 62% to $1.5601 after the company announced that it will voluntarily delist its common shares from the Nasdaq and deregister its Securities to terminate and suspend its reporting obligations.
• Shares of Addex Therapeutics Ltd ADXN were down 47% to $8.56 after the company announced the Phase 2 ADX71149 epilepsy study did not achieve statistical significance for the primary endpoint of time for patients to reach baseline seizure count when ADX71149 was added to standard of care.
• SoFi Technologies, Inc. SOFI was down, falling 10% to $7.08 after the company posted first-quarter results.

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Commodities

In commodity news, oil traded down 1.2% to $82.81 while gold traded up 0.1% at $2,349.10.

Silver traded up 0.1% to $27.255 on Monday, while copper rose 1.7% to $4.65.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.12%, London's FTSE 100 rose 0.11% while Spain's IBEX 35 Index fell 0.36% The German DAX fell 0.20% French CAC 40 fell 0.21% while Italy's FTSE MIB Index rose 0.20%.

The services confidence indicator in the Eurozone fell by 0.4 points to 6.0 in April, while industry confidence indicator declined to -10.5 in April versus a revised level of -8.9 in the prior month. The consumer confidence indicator in the Eurozone increased by 0.2 points to -14.7 in April.

The seasonally adjusted industry confidence indicator in Spain increased by 0.8 points from the prior month to a reading of -3.9 in April. Spain’s consumer price inflation rate rose to 3.3% year-over-year in April.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index jumping 0.54%, China's Shanghai Composite climbing 0.79% and India's S&P BSE Sensex gaining 1.28%.

Profits earned by Chinese industrial firms climbed 4.3% year-over-year to CNY 1,505.5305 billion during the first three months of the year, compared to a 10.2% gain in the earlier period.

Economics

The Dallas Fed Manufacturing index fell slightly to -14.5 in April from March’s reading of -14.4.

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