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Dow Jumps Over 200 Points; NY Empire State Manufacturing Index Increases In September
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Dow Jumps Over 200 Points; NY Empire State Manufacturing Index Increases In September
Sep 16, 2024 12:02 PM

U.S. stocks traded mixed this morning, with the Dow Jones jumping over 200 points on Monday.

Following the market opening Monday, the Dow traded up 0.54% to 41,618.01 while the NASDAQ fell 0.69% to 17,562.23. The S&P 500 also fell, dropping, 0.06% to 5,622.81.

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Leading and Lagging Sectors

Energy shares jumped by 1.7% on Monday.

In trading on Monday, information technology shares fell by 1.4%.

Top Headline

The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.

Equities Trading UP

                       

NuCana plc ( NCNA ) shares shot up 170% to $6.85 after the company announced final data from the Phase 2 NuTide:701 study at the ESMO Congress on NUC-7738 in combination with pembrolizumab for patients with metastatic melanoma who were refractory to or had relapsed on prior PD-1 inhibitor therapy.

Shares of Bone Biologics Corporation ( BBLG ) got a boost, surging 47% to $1.18.

Dermata Therapeutics, Inc. ( DRMA ) shares were also up, gaining 42% to $2.2500.

Equities Trading DOWN

Dunxin Financial Holdings Limited ( DXF ) shares dropped 21% to $0.1053.

Shares of Immutep Limited ( IMMP ) were down 25% to $1.98. Immutep’s Efti in combination with MSD’s KEYTRUDA leads to efficacy with favourable safety in first line head and neck cancer.

NWTN Inc. ( NWTN ) was down, falling 19% to $0.7098.

Commodities

In commodity news, oil traded up 1.4% to $69.59 while gold traded down 0.1% at $2,608.10.

Silver traded up 0.7% to $31.28 on Monday, while copper rose 0.6% to $4.2630.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.1%, Germany's DAX fell 0.3% and France's CAC 40 fell 0.2%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 fell 0.02%.

The Eurozone recorded a trade surplus of EUR 21.2 billion in July, higher than market estimates of EUR 14.9 billion. Wages in the Eurozone increased 4.5% year-over-year in the second quarter, while hourly labor costs climbed by 4.7% year-over-year in the quarter. Italy reported a trade surplus of EUR 6.743 billion in July versus a year-ago surplus of EUR 6.108 billion.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Hong Kong's Hang Seng Index gaining 0.31% and India's BSE Sensex gaining 0.12%.

Total passenger vehicle sales in India declined 1.6% year-over-year to 308,779 in August versus a 1.9% decline in the prior month.

Economics

The NY Empire State Manufacturing Index rose to 11.5 in September, recording the highest level since April 2022, versus -4.7 in August and market estimates of -3.9.

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