U.S. stocks traded mixed toward the end of trading, with the S&P 500 edging higher on Monday.
The Dow traded down 0.47% to 39,310.03 while the NASDAQ rose 0.17% to 16,773.12. The S&P 500 also fell, dropping, 0.08% to5,339.84.
Leading and Lagging Sectors
Information technology shares climbed by 1% on Monday.
In trading on Monday, real estate shares fell 1.1%.
Top Headline
Starbucks Corp SBUX shares gained around 2% on Monday following a report suggesting activist investor interest is brewing.
According to a Wall Street Journal report citing people familiar with the matter, activist investor Starboard Value has taken a stake in Starbucks and wants the coffee giant to focus on boosting its stock price.
Equities Trading UP
- Greenlane Holdings, Inc. GNLN shares shot up 218% to $7.95 after the company announced that it has entered into a non-binding letter of intent to be the exclusive distributor in the U.S, of Safety Strips, fentanyl, xylazine and drink spike detection test strips.
- Shares of Revance Therapeutics, Inc. RVNC got a boost, surging 86% to $6.57 after the company entered into a merger agreement with Crown Laboratories.
- Interactive Strength Inc. TRNR shares were also up, gaining 63% to $0.5651 after the company received a letter stating that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market.
Equities Trading DOWN
- B. Riley Financial, Inc. RILY shares dropped 53% to $8.02 after the company reported preliminary second-quarter financial results.
- Shares of Neuronetics, Inc. STIM were down 55% to $0.79 after the company reported worse-than-expected second-quarter financial results and issued third-quarter revenue guidance below estimates. Also, the company announced it will acquire Greenbrook TMS in an all-stock transaction.
- iLearningEngines, Inc. AILE was down, falling 47% to $3.0450. iLearningEngines will report financial results for the second quarter before the opening bell on Tuesday, Aug. 13.
Commodities
In commodity news, oil traded up 2.8% to $79.02 while gold traded up 1.3% at $2,504.40.
Silver traded up 1.4% to $27.965 on Monday, while copper rose 1.8% to $4.0645.
Euro zone
European shares closed mostly higher today. The eurozone's STOXX 600 fell 0.02%, Germany's DAX rose 0.02% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.07%, while London's FTSE 100 rose 0.52%.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Hong Kong's Hang Seng Index gaining 0.13%, China's Shanghai Composite Index falling 0.14% and S&P BSE Sensex falling 0.07%.
Economics
U.S. consumer inflation expectations for the year ahead came in unchanged at 3% for July.
The U.S. government budget deficit increased to $244 billion in July compared to a $220.7 billion gap recorded in the yera-ago month.
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