Monday reflected a frenzy in the U.S. stock market as the Dow Jones index fiercely surged over 100 points halfway through trading.
The Dow escalated by 0.34% to a robust 35,064.42. As a response, the NASDAQ soared significantly by 0.80% to an impressive 14,238.67. The S&P 500 also joined the rally, fiercely gaining 0.43% to a staggering 4,534.85.
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Leading and Lagging Sectors
In a surprising turn of events, the information technology sector vigorously surged by 0.8% on Monday, leaving the market in awe.
Meanwhile, the utilities sector experienced a fluctuating downward spiral, witnessing a decline of 0.3% in a shocking downturn.
Startling the market, the index of leading economic indicators took an unexpected nosedive, plunging by 0.8% in October.
Equities Trading UP
Iovance Biotherapeutics, Inc. IOVA took everyone by surprise as its shares skyrocketed by an astonishing 11% to an eye-popping amount of $5.60. Speculations ran rampant as Goldman Sachs initiated coverage on Iovance Biotherapeutics with a Buy rating and disclosed a jaw-dropping price target of $12.
Astoundingly, the shares of Cardio Diagnostics Holdings, Inc. CDIO experienced an unprecedented surge of 81%, reaching an unbelievable $1.7905. The breakout news was Cardio Diagnostics’ announcement of a groundbreaking development in the detection of coronary heart disease with the PrecisionCHD Test, a discovery unveiled in the prestigious Journal of the American Heart Association.
Cuentas Inc. CUEN stepped into the limelight with a surprising 60% rise, reaching a dramatic $1.52 after reporting a narrower quarterly loss, leaving analysts astounded.
Equities Trading DOWN
NanoString Technologies, Inc. NSTG tumbled a startling 47% to an unbelievable $0.6782. In a shocking twist, TD Cowen downgraded NanoString Technologies from Outperform to Market Perform and drastically reduced the price target from $6 to $1.4.
Uproar shook the market as shares of PaxMedica, Inc. PXMD plummeted an alarming 38% to an unexpected $1.09 after the company startled investors with the pricing of a staggering $7 million public offering of 5,384,615 shares and accompanying warrants at an unexpectedly low price of $1.30 per unit.
Greenland Technologies Holding Corporation GTEC took an unexpected tumble, witnessing a shocking 12% fall to $2.8950 following disheartening quarterly results.
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In a shocking twist of fate, the commodity market experienced a fierce surge as oil aggressively marched up by a staggering 2.5% to a stunning $77.80. Meanwhile, gold witnessed an unexpected tumble, experiencing an alarming 0.6% decline to a surprising $1,973.60.
The market was left wide-eyed as silver plummeted a startling 1.2% to an astonishing $23.57 on Monday, while copper unexpectedly rose by an impressive 1.4% to an unexpected $3.7890.
European shares sparked a frenzy, soaring to unexpected heights. The eurozone’s STOXX 600 witnessed an unexpected surge of 0.11%, while London’s FTSE 100 experienced a dramatic fall of 0.05%. In a dramatic rise, Spain’s IBEX 35 Index unexpectedly surged by an eye-popping 0.85%. Chaos ensued as the German DAX witnessed a shocking fall of 0.11%. The French CAC 40 unexpectedly soared by 0.27%, while Italy’s FTSE MIB Index shockingly rose by a staggering 0.17%.
In a dramatic turn of events, construction output in the Eurozone unexpectedly plummeted by 0.3% year-over-year in September. The market was left rattled as producer prices in Germany took an unexpected nosedive, deeply plunging by 11.0% year-over-year in October after a devastating 14.7% decline in September.
Asia Pacific Markets
Asian markets were swept up in a whirlwind of chaos, closing in an unprecedented mix on Monday. Amidst the chaos, Japan’s Nikkei 225 stunned the market with an unexpected fall of 0.59%, while Hong Kong’s Hang Seng Index unexpectedly surged up a shocking 1.86%. China’s Shanghai Composite Index shook the market with an unexpected surge of 0.46%. India’s S&P BSE Sensex, on the other hand, shocked the market with an unexpected fall of 0.21%.
Surprisingly, The People’s Bank of China shocked everyone by keeping lending rates unchanged at the November fixing. Adding to the shock, Malaysia’s trade surplus unexpectedly shrank to MYR 12.9 billion in October from MYR 18.6 billion in the year-ago month.
In an unexpected twist, the index of leading economic indicators shocked everyone with a plunge of 0.8% in October. Astoundingly, speculations flew wild as the market was plunged into a frenzy.
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