US stocks catapulted higher this Monday morning with the Nasdaq Composite soaring around 100 points in an exhilarating display of market positivity.
As the market cracked open on the first trading day, the Dow jubilantly surged up 0.55% to 38,073.10, while the NASDAQ jubilantly rose 0.71% to 15,420.00. The S&P 500 also joined in the festivities, gaining 0.49% to 4,863.49.
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Leading and Lagging Sectors
Real estate shares took the lead, rising by 1.4% on Monday, painting a picture of unwavering strength in the sector.
In an unexpected twist, consumer staples shares fell by 0.2%, offering a rare dark spot amidst the day’s otherwise radiant performance.
Top Headline
The US leading index staggered, falling 0.1% for December, defying analysts’ expectations for a 0.5% decline and serving as an unexpected twist in the day’s narrative.
Equities Trading UP
Sagimet Biosciences Inc. SGMT shares shot up an astounding 155% to $17.37 after the company announced denifanstat in the Phase 2b FASCINATE-2 clinical trial achieved statistically significant results on the primary and multiple secondary endpoints, capturing the attention of the market in a whirlwind of excitement.
Shares of Rail Vision Ltd. RVSN surged 50% to $2.07 as Rail Vision announced that its main line system had successfully obtained formal certifications for critical European Union railway standards, painting a vivid picture of success on the tracks.
Fisker Inc. FSR shares also revved up, gaining 33% to $1.04, as Fisker filed a Form 8-K with the Securities and Exchange Commission regarding amendments with its 2025 convertible notes investor, signaling a promising drive forward for the company.
Equities Trading DOWN
Virios Therapeutics, Inc. VIRI shares experienced a harrowing 33% drop to $0.5411, as Virios Therapeutics announced plans to advance development of IMC-2 as treatment for symptoms associated with long-COVID. It was a dramatic and sudden descent for the company.
Shares of Processa Pharmaceuticals, Inc. PCSA plummeted 32% to $3.06 as Processa Pharmaceuticals recently announced plans to expand the development of Next Generation Capecitabine into the treatment of advanced or metastatic breast cancer, marking a jarring turn of events for the company’s trajectory.
Nuvve Holding Corp. NVVE also took a hit, falling 22% to $2.9908, as Nuvve recently announced a 1-for-40 reverse stock split, causing a ripple of concern among investors.
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Commodities
In the commodity arena, oil gleefully traded up 1.2% to $74.28, while gold traded down 0.2% at $2,025.40, capturing the market’s attention with its shimmering performance.
Silver experienced a melancholic drop, trading down 1.9% to $22.28, while copper fell 0.6% to $3.7640, casting a shadow over the usually radiant commodities market.
Euro zone
European shares were mostly higher, painting a picture of continental confidence. The Eurozone’s STOXX 600 rose 0.7%, London’s FTSE 100 rose 0.2%, while Spain’s IBEX 35 Index rose 1.1%. The German DAX rose 0.6%, and the French CAC 40 rose 0.6%. However, Italy’s FTSE MIB Index fell 0.3%, serving as a cautionary note amidst the European exuberance.
Asia Pacific Markets
Asian markets closed mixed on Monday, with Japan’s Nikkei 225 gaining 1.62% and Hong Kong’s Hang Seng Index falling 2.27%. China’s Shanghai Composite Index declined 2.68%, while India’s S&P BSE Sensex fell 0.36%, presenting a diverse and colorful array of market performances across the region.
The annual inflation rate in Hong Kong eased to 2.4% in December from 2.6% in the prior month. The People’s Bank of China kept its lending rates unchanged at the January fixing, setting the stage for a stable yet evolving economic landscape in the region.
Economics
The US leading index fell 0.1% for December, defying analysts’ expectations for a 0.5% decline, marking an unexpected turn in the economic narrative.
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