HomeMarket NewsMicro Cap StocksDow Jones Index Increases by 100 Points; Shares of Hawaiian Electric Soar

Dow Jones Index Increases by 100 Points; Shares of Hawaiian Electric Soar

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During the final stages of trading, U.S. stocks experienced gains, with the Dow Jones Index increasing by over 100 points on Monday.

As of Monday, the Dow traded at 34,490.80, up 0.42%, while the NASDAQ rose to 13,674.49, an increase of 0.62%. Similarly, the S&P 500 saw gains of 0.42% to reach 4,424.26.

Check This Out: Top 5 Tech Stocks That Might Decline in this Quarter

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Prominent and Underperforming Sectors

Real estate shares experienced a significant surge of 0.9% on Monday.

Conversely, consumer discretionary shares declined by 0.2% during trading on Monday.

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Key News

Hersha Hospitality Trust HT announced a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.

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Surging Stocks

Hawaiian Electric Industries, Inc. HE shares skyrocketed by 40% to $13.52 after the company released a detailed response to the lawsuit filed by the County of Maui regarding the August 8 fires.

The shares of GD Culture Group Limited GDC witnessed a surge of 43% to $3.64 after announcing the launch of a live-streaming e-commerce business on TikTok, a popular social media platform.

Hersha Hospitality Trust HT shares also experienced a rise of 56% to $9.81 after announcing a merger with KSL Capital Partners LLC, an investor in travel and leisure businesses.

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Declining Stocks

AgileThought, Inc. AGIL shares plummeted by 33% to $0.1751. Alliance Global Partners downgraded AgileThought from Buy to Sell.

Shares of NovoCure Limited NVCR dropped by 36% to $19.00 after the company announced that its Phase 3 ENGOT-ov50 / GOG-3029 / INNOVATE-3 trial of TTFields with paclitaxel did not meet its primary endpoint.

Ideanomics, Inc. IDEX experienced a decline of 18% to $3.5084 after reporting second-quarter results.

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Commodity Markets

In commodity news, oil prices increased by 0.3% to $80.06, while gold prices rose by 0.4% to $1,947.50.

On Monday, silver prices rose by 0.1% to $24.26, while copper prices fell by 0.1% to $3.7575.

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European Markets

European shares displayed positive performance today. The STOXX 600 index of the Eurozone increased by 0.89%, Spain’s IBEX 35 Index rose by 1.62%, the German DAX climbed by 1.03%, the French CAC 40 gained 1.32%, and Italy’s FTSE MIB Index surged by 1.19%.

In July 2023, the M3 money supply in the Eurozone witnessed a decrease of 0.4% YoY, reaching EUR 15.6 trillion, as opposed to a 0.6% growth in June. Additionally, bank lending to households in the Eurozone increased by 1.3% YoY, amounting to EUR 6.86 trillion in July.

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Asia Pacific Markets

The Asian markets closed higher on Monday, with Japan’s Nikkei 225 rising by 1.73%, China’s Shanghai Composite Index climbing by 1.13%, Hong Kong’s Hang Seng Index gaining 0.97%, and India’s S&P BSE Sensex increasing by 0.3%.

In Japan, the index of coincident economic indicators was revised down to 115.1 in June from the preliminary reading of 115.2, while the index of leading economic indicators was confirmed at 108.9 in June compared to a final level of 109.1 in the previous month. In China, profits earned by industrial firms decreased by 15.5% YoY to CNY 3,943.98 billion during the first seven months of the year.

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Economic News

The Federal Reserve Bank of Dallas’ general business activity index for manufacturing in Texas increased to -17.2 in August, exceeding the market expectation of -21.6.

Now Read This: Bitcoin and Ethereum Experience a Decline; Pepe Tops the List of Losers

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COVID-19 Update

The United States has reported the highest number of coronavirus cases and deaths globally, with a total of 107,969,970 cases and approximately 1,173,390 deaths. India confirmed a minimum of 44,996,960 COVID-19 cases and 531,920 deaths, while France reported over 40,138,560 cases and 167,640 deaths. In total, there have been at least 694,215,410 cases of COVID-19 worldwide, resulting in more than 6,910,770 deaths.

Source: Benzinga.com

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