Toward the end of trading Monday, the Dow traded up 0.36 percent to 20,971.10 while the NASDAQ gained 0.33 percent to 6,141.50.
The S&P also rose, gaining 0.36 percent to 2,399.60.
Leading and Lagging Sectors
Basic materials sector was the top gainer in the US market on Monday. Top gainers in the sector included Haynes
International, Inc. (NASDAQ: HAYN), Cliffs Natural
Resources Inc (NYSE: CLF), and Olympic Steel, Inc.
(NASDAQ: ZEUS).
In trading on Monday, cyclical consumer goods & services shares rose by just 0.1 percent. Meanwhile, top losers in the sector
included U.S. Auto Parts Network, Inc. (NASDAQ: PRTS), down 22 percent, and Sears Holdings Corp (NASDAQ: SHLD), down 13 percent.
Top Headline
Thermo Fisher Scientific Inc. (NYSE: TMO) announced
plans to acquire Patheon NV (NYSE: PTHN) for $35 per
share in cash.
The deal is projected to complete by the end of 2017.
Equities Trading UP
Cellular Biomedicine Group Inc (NASDAQ: CBMG)
shares shot up 63 percent to $8.65 after the company reported the addition of a second clinical site in expansion of chimeric
antigen Phase 1 trial.
Shares of Patheon NV (NYSE: PTHN) got a boost,
shooting up 33 percent to $34.65 after Thermo Fisher Scientific Inc. (NYSE: TMO) announced plans to acquire the company for $35 per share in cash.
Sorl Auto Parts, Inc. (NASDAQ: SORL) shares were
also up, gaining 33 percent to $6.02 after the company reported strong Q1 results and raised its FY17 sales guidance.
Equities Trading DOWN
Forterra Inc (NASDAQ: FRTA) shares dropped 24
percent to $14.98. Forterra posted a Q1 loss of $0.35 per share on sales of $338.3 million.
Shares of Westmoreland Coal Company (NASDAQ: WLB)
were down 19 percent to $7.95. Westmoreland reported a Q1 loss of $1.98 per share on revenue of $339 million.
Verso Corporation (NYSE: VRS) was down, falling
around 22 percent to $4.71 following earlier filing of 10-Q. Verso posted a Q1 loss of $0.67 per share on sales of $616
million.
Commodities
In commodity news, oil traded up 2.53 percent to $49.05 while gold traded up 0.23 percent to $1,230.50.
Silver traded up 1.45 percent Monday to $16.64, while copper rose 0.67 percent to $2.541.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.09 percent, the Spanish Ibex Index rose 0.56 percent, while
Italy’s FTSE MIB Index climbed 0.60 percent. Meanwhile the German DAX climbed 0.29 percent, and the French CAC 40 surged 0.22
percent while U.K. shares rose 0.26 percent.
Economics
The Empire State manufacturing index dropped to negative 1 in May, compared to positive 5.2 in April. However, economists were
projecting a reading of 7 for the month.
The NAHB housing market index increased 2 points to a reading of 70 for May. Economists expected a reading of 68 for the
month.
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