US Stocks Open Higher; Dow Rises 150 Points

view original post

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

Following the market opening Monday, the Dow traded up 0.49% to 33,796.59 while the NASDAQ rose 1.22% to 10,698.66. The S&P 500 also rose, gaining, 0.70% to 3,922.36.

Check This Out: Bitcoin Tops This Key Level; Gala, Solana Among Top Gainers

Leading and Lagging Sectors

Information technology shares gained by 1.6% on Monday. Meanwhile, top gainers in the sector included Duck Creek Technologies, Inc. (NASDAQ:DCT), up 47%, and Paya Holdings Inc. (NASDAQ:PAYA), up 24%.

In trading on Monday, consumer staples shares fell by 0.1%.

Top Headline

Acuity Brands, Inc (NYSE:AYI) reported better-than-expected earnings and sales results for its first quarter.

Acuity Brands reported first-quarter FY23 net sales growth of 7.8% year-over-year to $997.9 million, beating the consensus of $984.5 million. Adjusted EPS of $3.29 beat the consensus of $3.00.

Equities Trading UP

  • CinCor Pharma, Inc. (NASDAQ:CINC) shares shot up 136% to $27.83 after AstraZeneca announced it will acquire the company for $26 per share in cash.
  • Shares of Amryt Pharma plc (NASDAQ:AMYT) got a boost, shooting 107% to $14.51 after Chiesi Farmaceutici announced it will acquire the company for $14.50 per ADS plus contingent value rights of up to an additional $2.50 per ADS.
  • Albireo Pharma, Inc. (NASDAQ:ALBO) shares were also up, gaining 93% to $43.95 after Ipsen announced it will acquire the company for $42 per share plus a contingent value right of $10 per share.

Equities Trading DOWN

  • Calithera Biosciences, Inc. (NASDAQ:CALA) shares tumbled 81% to $0.6747. Calithera Biosciences announced board approval of complete liquidation and dissolution.
  • Shares of Cutera, Inc. (NASDAQ:CUTR) were down 26% to $29.94 after the company reported preliminary unaudited financial results for FY22. The company expects to report revenue in the range of $252 million to $253 million for FY22.
  • Moolec Science SA (NASDAQ:MLEC) was down, falling 33% to $12.85 after jumping 258% on Friday.

Also Check This Out: Why Market Expert Says It’s Time To Buy North Asian Stock Sectors


In commodity news, oil traded up 2.9% to $75.88 while gold traded up 0.7% at $1,881.80.

Silver traded up 0.6% to $24.135 on Monday while copper rose 2.6% to $4.0140.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, London’s FTSE 100 gained 0.2% while Spain’s IBEX 35 Index slipped 0.1%. The German DAX gained 1 %, French CAC 40 climbed 0.5% and Italy’s FTSE MIB Index gained 0.7%.

The Eurozone’s unemployment rate came in unchanged at 6.5% for November from the prior month’s all-time low level, while unemployment rate in Italy declined to 7.8% in November.

France’s current account deficit increased to EUR 6.8 billion in November versus a revised EUR 3.4 billion in the prior month, while trade deficit increased to EUR 13.8 billion in November. Industrial production in Germany rose 0.2% month-over-month in November.

Asia Pacific Markets

Asian markets closed higher on Monday, with the Hong Kong’s Hang Seng Index climbing 1.89%, and China’s Shanghai Composite Index adding 0.58%.

Private house approvals in Australia declined 2.2% month-over-month to 9,142 units in November, while building permits declined by 9% month-over-month to 13,898 units in November.


Data on consumer credit for November will be released at 3:00 p.m. ET.


Now Read This: Fear & Greed Index Moves To ‘Neutral’ Zone Following Jobs Data

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 103,086,920 cases with around 1,121,090 deaths. India confirmed a total of at least 44,681,170 cases and 530,720 deaths, while France reported over 39,407,720 COVID-19 cases with 162,640 deaths. In total, there were at least 668,796,070 cases of COVID-19 worldwide with more than 6,714,170 deaths.