Dow Surges Over 200 Points; Verizon Shares Fall Following Q3 Results

U.S. stocks traded higher this morning, with the Dow Jones gaining more than 200 points on Monday.

Following the market opening Monday, the Dow traded up 0.41% to 52,431.18 while the NASDAQ climbed 0.36% to 26,047.63. The S&P 500 also rose, gaining, 0.41% to 7,654.65.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 1.1% on Monday.

In trading on Monday, communication services stocks fell by 0.7%.

Top Headline

Verizon Communications (NYSE:VZ) shares fell around 3% on Monday after the company released earnings results for the third quarter.

The company reported quarterly earnings of $1.31 per share which beat the analyst consensus estimate of $1.27 per share. The company reported quarterly sales of $34.313 billion which missed the analyst consensus estimate of $34.744 billion.

Verizon also raised its FY2026 adjusted EPS guidance from $4.99-$5.04 to $5.04-$5.06.

Equities Trading UP
           

• Scisparc Ltd (NASDAQ:SPRC) shares shot up 54% to $1.68 after declining 9% on Friday.
• Shares of Clearone Inc (NASDAQ:CLRO) got a boost, surging 47% to $4.77.
• Stratum Holdings Corp (NASDAQ:SRTM) shares were also up, gaining 34% to $0.58. Ocean Power Technologies, Inc. (NYSE:OPTT) and Stratum Holdings entered into a non-binding letter of intent for a proposed strategic collaboration to demonstrate offshore data center assets.

Equities Trading DOWN

• AMTD IDEA Group (NYSE:AMTD) shares dipped 14% to $25.56. AMTD IDEA Group recently reported a year-over-year decrease in H1 financial results.
• Shares of XP Inc. (NASDAQ:XP) were down 48% to $15.74. Shares of U.S.-traded companies with Brazil exposure traded lower after President Luiz Inácio Lula da Silva defeated candidate Flávio Bolsonaro in the country’s runoff election.
• 22nd Century Group, Inc. (NASDAQ:XXII) was down, falling 48% to $0.1034.

Commodities 

In commodity news, oil traded down 1.2% to $102.06 while gold traded up 0.5% at $4,026.10.

Silver traded down 0.2% to $53.830 on Monday, while copper rose 0.4% to $6.5335.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.5%, while Spain’s IBEX 35 Index fell 0.1%, London’s FTSE 100 rose 0.5%, Germany’s DAX gained 1%, while France’s CAC 40 rose 0.8%.

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 falling 0.80%, Hong Kong’s Hang Seng index gaining 0.51%, China’s SSE Composite Index gaining 0.19% and India’s BSE Sensex gaining 0.66%.

Economics

The Chicago Fed National Activity Index climbed to +0.07 in September from -0.08 in the previous month.

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