U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 100 points on Monday.
The Dow traded up 0.27% to 37,967.81 while the NASDAQ rose 0.31% to 15,358.70. The S&P 500 also rose, gaining, 0.23% to 4,850.71.
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Mixed Sector Movement
Industrials shares rose by 0.7% on Monday.
In trading on Monday, utilities shares fell by 0.5%.
CFO Shakeup Causes ADM Shares Drop
Archer-Daniels-Midland Company ADM placed its CFO on administrative leave and updated its FY23 outlook on Sunday. Also, the company has appointed Ismael Roig as its interim Chief Financial Officer.
The company now expects adjusted EPS of above $6.90 vs. consensus of $7.28.
Market News
In commodity news, oil traded up 2.6% to $75.31 while gold traded down 0.3% at $2,023.80.
Silver traded down 1.9% to $22.285 on Monday while copper fell 0.4% to $3.7705.
Global Market Movement
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.77%, London’s FTSE 100 rose 0.35% while Spain’s IBEX 35 Index rose 1.11% The German DAX rose 0.77% French CAC 40 rose 0.56% while Italy’s FTSE MIB Index fell 0.33%.
Asian markets closed mixed on Monday, with Japan’s Nikkei 225 gaining 1.62%, Hong Kong’s Hang Seng Index falling 2.27% and China’s Shanghai Composite Index declining 2.68%. India’s S&P BSE Sensex, meanwhile, fell 0.36%.
Economic News
US leading index fell 0.1% for December, versus analysts’ expectations for a 0.5% decline.
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