Following the market opening Monday, the Dow traded up 0.40 percent to 18,468.71 while the NASDAQ climbed 0.25 percent to 5,232.08.
The S&P also rose, gaining 0.38 percent to 2,177.27.
Leading and Lagging Sectors
Monday morning, basic materials shares gained by 0.61 percent. Meanwhile, top gainers in the sector included USG
Corporation (NYSE: USG), and Teck Resources Ltd
(USA) (NYSE: TCK).
In trading on Monday, healthcare shares rose by just 0.03 percent. Meanwhile, top losers in the sector included Amicus
Therapeutics, Inc. (NASDAQ: FOLD), down 3 percent, and
MediciNova, Inc. (NASDAQ: MNOV), down 3 percent.
Top Headline
USG Corporation (NYSE: USG) and ABC Supply disclosed
that they reached a definitive deal through which the former would divest its L&W Supply Corporation to the latter for $670
million cash.
The transaction is expected to be completed before the current year ends.
Equities Trading UP
Macrocure Ltd (NASDAQ: MCUR) shares shot up 117
percent to $2.63 as the company agreed to be acquried by Leap Therapeutics.
Shares of Invuity, Inc. (NASDAQ: IVTY) got a
boost, shooting up 6 percent to $13.50. Craig-Hallum initiated coverage on Invuity with a Buy rating.
Lantheus Holdings Inc (NASDAQ: LNTH) shares were
also up, gaining 10 percent to $9.03. Jefferies reiterated Buy rating on Lantheus and raised the price target from $8 to $12.
Equities Trading DOWN
Caesars Entertainment Corp (NASDAQ: CZR) shares
dropped 16 percent to $6.32. The New York Post reported that David Tepper's Appaloosa Management is likely to win an $11 billion
lawsuit versus Caesars Entertainment.
Shares of BOS Better OnLine Sol (USA) (NASDAQ: BOSC) were down 11 percent to $3.12. Better Online Solutions posted Q2 earnings of
$0.14 per share on revenue of $14.38 million.
Kratos Defense & Security Solutions, Inc (NASDAQ: KTOS) was down, falling around 8 percent to $6.83. KeyBanc downgraded Kratos
Defense & Security Solutions from Overweight to Sector Weight.
Commodities
In commodity news, oil traded down 1.68 percent to $46.84 while gold traded down 0.18 percent to $1,323.50.
Silver traded down 0.40 percent Monday to $18.67, while copper fell 0.19 percent to $2.08.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.29 percent, the Spanish Ibex Index declined 0.56 percent,
while Italy’s FTSE MIB Index dropped 1.16 percent. Meanwhile the German DAX declined 0.48 percent, and the French CAC 40 climbed
0.68 percent.
Economics
U.S. consumer spending rose 0.3 percent for July, versus economists’ expectations for a 0.3 percent growth. Personal income
increased 0.4 percent last month.
The Dallas Fed manufacturing index for August is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
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