Following the market opening Monday, the Dow traded up 1.46 percent to 18,148.79 while the NASDAQ climbed 1.67 percent to 5,130.51.
The S&P also rose, gaining 1.54 percent to 2,117.27.
Leading and Lagging Sectors
Monday morning, financial shares gained by 1.87 percent. Meanwhile, top gainers in the sector included ICICI Bank Ltd
(ADR) (NYSE: IBN), and Deutsche Bank AG (USA) (NYSE:
DB).
In trading on Monday, utilities shares rose by just 0.5 percent. Meanwhile, top losers in the sector included Korea Electric
Power Corporation (ADR) (NYSE: KEP), down 2 percent, and
National Grid plc (ADR) (NYSE: NGG), down 1 percent.
Top Headline
LendingClub Corp (NYSE: LC) reported a smaller loss
than analysts estimated for the third quarter. Similarly, revenue also came in above the estimates.
The company reported adjusted loss of $0.04 a share, exceeding expectations by $0.03 per share. Its revenue came in at $112.6
million, beating estimates by $9.29 million.
Equities Trading UP
Blue Nile Inc (NASDAQ: NILE) shares shot up 33
percent to $40.58 after the company disclosed a deal with Bain Capital Private Equity and Bow Street LLC for $40.75 a share in
cash.
Shares of Cempra Inc (NASDAQ: CEMP) got a boost,
shooting up 19 percent to $8.95 after the company disclosed that the U.S. Food and Drug Administration Advisory Committee voted
that efficacy results of its solithromycin outweigh the risks for community-acquired bacterial pneumonia.
Ionis Pharmaceuticals Inc (NASDAQ: IONS) shares
were also up, gaining 21 percent to $32.84. Biogen Inc (NASDAQ: BIIB) and Ionis Pharmaceuticals disclosed that SPINRAZA has met the primary
endpoint at interim analysis of Phase 3 CHERISH study.
Equities Trading DOWN
Concordia International Corp (NASDAQ: CXRX) shares
dropped 34 percent to $2.10 after the company reported downbeat results for its third quarter. Concordia also disclosed that it is
suspending its guidance.
Shares of HSN, Inc. (NASDAQ: HSNI) were down 8
percent to $33.12 after the company posted weaker-than-expected Q3 earnings.
EPAM Systems Inc (NYSE: EPAM) was down, falling
around 8 percent to $56.57. EPAM posted Q3 earnings of $0.76 per share on revenue of $298.3 million. The company also expects Q4
earnings of at least $0.78 per share and revenue of at least $310 million.
Commodities
In commodity news, oil traded up 1 percent to $44.51 while gold traded down 1.34 percent to $1,287.00.
Silver traded down 0.88 percent Monday to $18.21, while copper rose 1.06 percent to $2.29.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 climbed 1.34 percent, the Spanish Ibex Index rose 1.44 percent,
while Italy’s FTSE MIB Index surged 2.27 percent. Meanwhile the German DAX climbed 1.64 percent, and the French CAC 40 rose 1.65
percent while U.K. shares rose 1.45 percent.
Economics
The TD Ameritrade Investor Movement Index for October is schedule for release at 12:30 p.m. ET.
Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 2:45 p.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
Data on consumer credit for September will be released at 3:00 p.m. ET.
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