Dow Jumps Over 200 Points; NY Empire State Manufacturing Index Falls In July

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Monday.

Following the market opening Monday, the Dow traded up 0.62% to 40,249.41 while the NASDAQ rose 0.52% to 18,493.58. The S&P 500 also rose, gaining, 0.44% to 5,639.94.

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Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Monday.

In trading on Monday, utilities shares fell by 1.3%.

Top Headline

The NY Empire State Manufacturing Index fell to a reading of -6.6 in July, compared to market estimates of -6.

Equities Trading UP
                       

• Scinai Immunotherapeutics Ltd. SCNI shares shot up 107% to $8.39 after the company announced in-vivo preclinical study results of NanoAb.
• Shares of DatChat, Inc. DATS got a boost, surging 71% to $1.81.
• MIRA Pharmaceuticals, Inc. MIRA shares were also up, gaining 54% to $0.91 after the company said testing confirmed MIRA’s preliminary beliefs regarding potential treatment for neurological and neuropsychiatric disorders.

Equities Trading DOWN

• ASLAN Pharmaceuticals Limited ASLN shares dropped 42% to $1.46 after the company announced receipt of Nasdaq delisting determination.
• Shares of Qualigen Therapeutics, Inc. QLGN were down 21% to $0.3430 after jumping 109% on Friday.
• Lexeo Therapeutics, Inc LXEO was down, falling 21% to $13.82 after the company reported interim Phase 1/2 clinical data of LX2006 for the treatment of friedreich ataxia cardiomyopathy.

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Commodities

In commodity news, oil traded down 0.2% to $82.07 while gold traded up 0.1% at $2,423.60.

Silver traded down 0.4% to $31.05 on Monday, while copper fell 1% to $4.5475.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX fell 0.4% and France's CAC 40 fell 0.6%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 fell 0.3%.

Industrial production in the Eurozone declined 0.6% month-over-month in May following a flat reading in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index falling 1.52%, China's Shanghai Composite Index gaining 0.09% and India's S&P BSE Sensex gaining 0.18%.

Indian merchandise trade deficit increased to $21 billion in June from $20.1 billion in the year-ago period, while wholesale prices rose by 3.36% year-over-year in June following a 2.61% increase in the prior month. Total passenger vehicle sales in India surged 5.0% year-over-year to 294,133 in June.

Chinese retail sales increased by 2% year-over-year in June, while industrial production climbed by 5.3% year-over-year in June. The Chinese economy expanded by 0.7% in the second quarter, compared to a revised 1.5% increase in the prior quarter.

Economics

The NY Empire State Manufacturing Index fell to a reading of -6.6 in July, compared to market estimates of -6.

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