Nasdaq Jumps 150 Points; US Pending Home Sales Rise

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 150 points on Monday.

Following the market opening Monday, the Dow traded up 0.19% to 46,333.68 while the NASDAQ rose 0.67% to 22,635.76. The S&P 500 also rose, gaining, 0.42% to 6,671.51.

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Leading and Lagging Sectors

Information technology shares jumped by 0.8% on Monday.

In trading on Monday, energy stocks fell by 0.8%.

Top Headline

U.S. pending home sales surged by 4% from the previous month in August, recording the sharpest gain in five months and compared to a 0.4% decline in the previous month.

Equities Trading UP
           

• Maison Solutions Inc. (NASDAQ: MSS) shares shot up 257% to $3.3603.
• Shares of Predictive Oncology Inc. (NASDAQ: POAI) got a boost, surging 112% to $1.64. Predictive Oncology recently announced a 1-for-15 reverse stock split.
• Maison Solutions Inc (NASDAQ: MSS) shares were also up, gaining 167% to $2.56.

Equities Trading DOWN

• KALA BIO, Inc. (NASDAQ: KALA) shares dropped 92% to $1.4350 after the company disclosed that topline results from CHASE Phase 2b clinical trial evaluating KPI-012 for the treatment of persistent corneal epithelial defect did not meet primary endpoint.
• Shares of MoonLake Immunotherapeutics (NASDAQ: MLTX) were down 89% to $6.76 after the company reported on week 16 results of the VELA Phase 3 hidradenitis suppurativa program with the Nanobody sonelokimab.
• IO Biotech, Inc. (NASDAQ: IOBT) was down, falling 75% to $0.3941 after the company issued an update following pre-BLA meeting with the FDA.

Commodities

In commodity news, oil traded down 2% to $64.41 while gold traded up 0.9% at $3,844.30.

Silver traded up 0.5% to $46.895 on Monday, while copper rose 0.7% to $4.8070.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.2%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 rose 0.4%, Germany's DAX 40 slipped 0.1% and France's CAC 40 climbed 0.3% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 falling 0.69%, Hong Kong's Hang Seng gaining 1.89%, China's Shanghai Composite rising 0.90% and India's BSE Sensex falling 0.08%.

Economics

U.S. pending home sales surged by 4% from the previous month in August, recording the sharpest gain in five months and compared to a 0.4% decline in the previous month.

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