Dow Jumps Over 600 Points; Constellation Energy Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 600 points on Monday.

Following the market opening Monday, the Dow traded up 1.30% to 51,950.09 while the NASDAQ climbed 1.97% to 25,062.41. The S&P 500 also rose, gaining, 1.43% to 7,482.45.

Leading and Lagging Sectors

Consumer discretionary shares jumped by 3.8% on Monday.

In trading on Monday, consumer staples stocks fell by 0.3%.

Top Headline

Constellation Energy (NASDAQ:CEG) posted better-than-expected earnings for the third quarter.

The company posted adjusted earnings of $5.06 per share, beating market estimates of $3.85 per share. The company’s sales came in at $9.550 billion versus expectations of $9.372 billion.

Equities Trading UP
           

• Ohmyhome Limited (NASDAQ:OMH) shares shot up 275% to $27.60 after falling around 45% on Friday.
• Shares of JIADE Limited (NASDAQ:JDZG) got a boost, surging 73% to $0.3631 after dipping over 46% on Friday.
• MindForge Inc. (NASDAQ:MF) shares were also up, gaining 64% to $17.00.

Equities Trading DOWN

• Zura Bio Limited (NASDAQ:ZURA) shares dipped 73% to $1.0801 after the company announced it did not meet its primary and secondary endpoints.
• Shares of Sable Offshore Corp. (NYSE:SOC) were down 68% to $0.6064 after the company reported worse-than-expected third-quarter financial results.
• Faeth Therapeutics, Inc. (NASDAQ:FTH) was down, falling 45% to $12.07 after the company reported downbeat preliminary Phase 2 topline results from the PIK-201 trial evaluating PIKTOR in combination with paclitaxel in patients with advanced endometrial cancer.

Commodities 

In commodity news, oil traded down 3.9% to $87.28 while gold traded up 1.3% at $4,130.60.

Silver traded up 1.5% to $52.735 on Monday, while copper rose 1.5% to $6.3295.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 1%, while Spain’s IBEX 35 Index rose 1.8%, London’s FTSE 100 rose 0.6%, Germany’s DAX climbed 1.3%, while France’s CAC 40 surged 1%.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 2.33%, Hong Kong’s Hang Seng index falling 0.13%, China’s SSE Composite Index rising 0.32% and India’s BSE Sensex gaining 0.13%.

Economics

Data on wholesale inventories will be released today.

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