HomeMarket NewsMicro Cap StocksMarket Update: Dow Jones Surges 100 Points; Tenax Therapeutics Shares Spike Higher

Market Update: Dow Jones Surges 100 Points; Tenax Therapeutics Shares Spike Higher

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The U.S. stocks exhibited a mostly positive trend during the midday trading session, with the Dow Jones index making a significant gain of approximately 100 points on Monday.

At the time of trading, the Dow traded up by 0.33% to 34,397, the NASDAQ, on the other hand, saw a minimal decline of 0.06% to 13,790. The S&P 500 also registered an uptick, gaining 0.09% to 4,419.

Energy shares witnessed a sharp surge of 0.7% on Monday. Conversely, utilities shares experienced a decline of 1% during the trading session.

Top Headline

Tyson Foods, Inc. (NYSE: TSN) reported better-than-expected earnings for its fourth quarter. The companyโ€™s quarterly earnings of 37 cents per share surpassed the market estimates of 29 cents per share. Additionally, Tyson Foodsโ€™ quarterly sales amounted to $13.35 billion, slightly below the market expectations of $13.73 billion. The company anticipates a total company adjusted operating income of $1 billion to $1.5 billion in FY24.

Equities Trading UP

Tenax Therapeutics, Inc. (NASDAQ: TENX) observed an exceptional surge of 179% to reach $0.4330 after the FDA granted clearance for the Investigational New Drug (IND) application for TNX-103. This oral levosimendan is intended for the treatment of pulmonary hypertension with heart failure and preserved ejection fraction (PH-HFpEF).

Shares of Tivic Health Systems, Inc. (NASDAQ: TIVC) also witnessed a substantial increase, rising by 64% to $1.97. The boost in Tivic Health Systemsโ€™ shares followed a comprehensive analysis provided by BestGrowthStocks.Com.

Meanwhile, Montauk Renewables, Inc. (NASDAQ: MNTK) observed a rise of 28% to $0.0851. This surge came after Scotiabank upgraded Montauk Renewables from Sector Perform to Sector Outperform and announced a $9 price target for the company.

Equities Trading DOWN

Aclaris Therapeutics, Inc. (NASDAQ: ACRS) experienced a sharp decline of 87% to $0.6285 following the companyโ€™s announcement of topline results from the 12-week Phase 2b trial of oral zunsemetinib for moderate to severe rheumatoid arthritis.

Similarly, Mainz Biomed N.V. (NASDAQ: MYNZ) observed a drop of 46% to $1.20 after the company reported the pricing of a $5 million registered direct offering of 4,166,667 shares at $1.20 per share.

Verve Therapeutics, Inc. (NASDAQ: VERV) also witnessed a decline, falling by 43% to $8.90 subsequent to the announcement of the first human proof-of-concept data for in vivo base editing from the ongoing heart-1 phase 1b clinical trial of VERVE-101.

Commodities

In the commodities market, the price of oil surged by 0.9% to reach $77.88, while gold observed a marginal increase of 0.1% to reach $1,939.50. However, silver witnessed a decline of 0.9% to $22.075, and copper saw a rise of 1.7% to $3.6470.

Euro zone

European shares trended higher as the eurozoneโ€™s STOXX 600 gained 0.64%. Londonโ€™s FTSE 100 rose by 0.76%, Spainโ€™s IBEX 35 Index surged by 0.83%, the German DAX exhibited a rise of 0.50%, the French CAC 40 saw an increase of 0.46%, and Italyโ€™s FTSE MIB Index climbed by 1.3%. Furthermore, Germanyโ€™s current account showed an increase to EUR 28.1 billion in September from EUR 12.5 billion in the corresponding period of the previous year.

Asia Pacific Markets

In the Asia Pacific region, the Japanese Nikkei 225 index observed a minor rise of 0.05%, Hong Kongโ€™s Hang Seng Index gained 1.30%, and Chinaโ€™s Shanghai Composite Index saw an increase of 0.25%. However, Indiaโ€™s S&P BSE Sensex declined by approximately 0.5%. Notable economic indicators included a 0.8% year-over-year increase in producer prices in Japan for October, and a 20.6% year-over-year dip in Japanโ€™s machine tool orders to JPY 112,027 million in the same month. In India, total passenger vehicle sales surged by 17.3% year-over-year to 341,377 in October.

Economics

The U.S. Treasury statement for October is scheduled for release at 2:00 p.m. ET.

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