Dow Jumps Over 300 Points; ON Semiconductor Earnings Top Views

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 300 points on Monday.

Following the market opening Monday, the Dow traded up 0.81% to 42,454.94 while the NASDAQ rose 0.53% to 18,616.62. The S&P 500 also rose, gaining, 0.45% to 5,834.35.

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Leading and Lagging Sectors

Real estate shares rose by 1% on Monday.

In trading on Thursday, energy shares fell by 1.6%.

Top Headline

ON Semiconductor Corp ON posted better-than-expected earnings for the third quarter on Monday.

The company posted a revenue decline of 19.2% year-on-year to $1.76 billion, beating the analyst consensus estimate of $1.75 billion. The adjusted EPS of 99 cents beat the analyst consensus estimate of 97 cents.

Equities Trading UP
                       

• Healthcare Triangle, Inc. HCTI shares shot up 157% to $1.49 after the company disclosed in a filing that it acquired the business, assets, and operations relating to cloud and technology domain of Securekloud Technologies.
• Shares of Autonomix Medical, Inc. AMIX got a boost, surging 126% to $17.48 after the company reported preliminary results from its clinical trial of RF Ablation technology where 100% of its responder group was able to eliminate opioid use and reduce pain scores.
• Evoke Pharma, Inc. EVOK shares were also up, gaining 114% to $10.99 after the company announced the presentation of GLP-1 data for users with diabetic gastoparesis using GIMOTI and showed statistically significant improvements.

Equities Trading DOWN

• SMX (Security Matters) Public Limited Company SMX shares dropped 66% to $0.4686.
• Shares of Sonnet BioTherapeutics Holdings, Inc. SONN were down 19% to $4.84. Sonnet BioTherapeutics recently announced it regained compliance with Nasdaq.
• Upexi, Inc. UPXI was down, falling 23% to $6.26. Upexi shares jumped 170% on Friday after the company said it is currently reviewing trading activity to determine if recent activity involved possible stock manipulation.

Commodities

In commodity news, oil traded down 5.8% to $67.63 while gold traded down 0.1% at $2,753.30.

Silver traded up 0.4% to $33.915 on Monday, while copper fell 0.3% to $4.3585.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.2%, Germany's DAX gained 0.1% and France's CAC 40 rose 0.5%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.1%.

Retail sales in Spain rose by 4.1% year-over-year in September, while retail sales volumes in the UK fell by 6% in October following a 4% increase in September.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 1.82%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite Index gaining 0.68% and India's BSE Sensex surging 0.76%.

Hong Kong’s trade deficit shrank to $53.2 billion in September from $64.6 billion in the year-ago month.

Economics

The Dallas Fed Manufacturing Index will be released today.

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