US stocks traded higher later during the session, with the Dow Jones index adding more than 150 points on Monday.
Toward the end of trading Monday, the Dow traded up 0.49% to 35,260.47 while the NASDAQ rose 0.23% to 14,130.97. The S&P also rose, gaining, 0.26% to 4,512.09.
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Leading and Lagging Sectors
Energy shares rose by 1.6% on Monday. Meanwhile, top gainers in the sector included Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT), up 7% and Aemetis, Inc. (NASDAQ:AMTX) up 10%.
In trading on Monday, communication services shares tumbled by 1.7%.
Top Headline
Tyson Foods Inc (NYSE:TSN) posted better-than-expected earnings for its first quarter on Monday.
Tyson Foods posted quarterly earnings of $2.87 per share, beating analysts’ estimates of $1.90 per share. The company’s quarterly sales came in at $12.93 billion, versus market expectations of $12.18 billion.
Tyson Foods expects FY22 sales to be in the upper end of $49 billion - $51 billion, versus the consensus of $50.35 billion.
Equities Trading UP
Anghami Inc. (NASDAQ:ANGH) shares shot up 52% to $18.27 following its recent listing on NASDAQ.
Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) got a boost, shooting 183% to $9.20. The company, on Friday, priced its IPO at $5 per share.
Origin Agritech Limited. (NASDAQ:SEED) shares were also up, gaining 31% to $6.20 after the company said it expects FY22 sales to exceed RMB150 million.
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Equities Trading DOWN
Statera Biopharma, Inc. (NASDAQ:STAB) shares tumbled 26% to $ 1.01 as the company announced a registered direct offering of $2 million common stock and warrants.
Shares of Dermata Therapeutics, Inc. (NASDAQ:DRMA) were down 35% to $1.44. Dermata Therapeutics has requested the FDA to waive the requirements to complete a 90-day dermal minipig study and a standard dermal pharmacokinetics study before the End of Phase 2 meeting for its DMT310 acne program.
Cerence Inc. (NASDAQ:CRNC) was down, falling 34% to $42.19 after the company issued Q2 sales guidance below estimates and lowered FY22 sales guidance below estimates. The company also said CFO Mark Gallenberger will retire effective March 11, 2022.
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Commodities
In commodity news, oil traded down 1.3% to $91.00, while gold traded up 0.8% to $1,821.70.
Silver traded up 2.6% Monday to $23.055 while copper fell 0.2% to $4.4780.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.68%, London’s FTSE 100 gained 0.76%, while Spain’s IBEX 35 Index fell 0.36%. The German DAX rose 0.71%, French CAC 40 rose 0.83% and Italy’s FTSE MIB Index fell 1.03%.
Economics
Data on consumer credit for December will be released at 3:00 p.m. ET.
Check out the full economic calendar here
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 78,026,020 cases with around 926,090 deaths. India confirmed a total of at least 41,272,010 cases and 502,900 deaths, while Brazil reported over 26,536,590 COVID-19 cases with 632,280 deaths. In total, there were at least 397,270,730 cases of COVID-19 worldwide with more than 5,762,160 deaths.
