Toward the end of trading Monday, the Dow traded up 0.58 percent to 22,535.49 while the NASDAQ climbed 0.13 percent to 6,504.64.
The S&P also rose, gaining 0.28 percent to 2,526.35.
Leading and Lagging Sectors
Monday afternoon, the healthcare shares surged 0.76 percent. Meanwhile, top gainers in the sector included Rigel
Pharmaceuticals, Inc. (NASDAQ: RIGL), up 31 percent, and
Endocyte, Inc. (NASDAQ: ECYT), up 102 percent.
In trading on Monday, telecommunications services shares fell 0.31 percent. Meanwhile, top losers in the sector included B
Communications Ltd (NASDAQ: BCOM), down 5 percent, and
Telecom Italia SpA (ADR) (NYSE: TI) down 3 percent.
Top Headline
Cal-Maine Foods Inc (NASDAQ: CALM) reported a
wider-than-expected loss for its first quarter on Monday.
Cal-Maine reported a Q1 loss of $0.33 per share on sales of $262.8 billion. However, analysts were expecting a loss of $0.22 per
share on sales of $273.7 million.
Equities Trading UP
Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) shares
shot up 34 percent to $3.41 after the company issued an update on FDA review of fostamatinib for ITP. The FDA has indicated it will
not hold an Oncology Drugs AdCom meeting for fostamatinib.
Shares of Quarterhill Inc (NASDAQ: QTRH) got a
boost, shooting up 21 percent to $1.59 after the company updated its Q3 guidance. The company expects Q3 sales of $72.5 million to
$82.5 million and adjusted EBITDA of $50 million to $56 million.
Endocyte, Inc. (NASDAQ: ECYT) shares were also up,
gaining 102 percent to $2.85 after the company reported worldwide license of PSMA-617 from ABX GmbH.
Equities Trading DOWN
Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN)
shares dropped 13 percent to $32.45 after the company reported topline data from spinocerebellar ataxia Phase 2/3 trial.
Shares of CyberOptics Corporation (NASDAQ: CYBE)
were down 27 percent to $11.88 after the company reported a $3 million buyback plan and lowered its Q3 outlook.
Seres Therapeutics Inc (NASDAQ: MCRB) was down,
falling around 21 percent to $12.61 after the company reported topline results from SER-287 Phase 1b study in patients with
Ulcerative Colitis.
Commodities
In commodity news, oil traded down 2.30 percent to $50.48 while gold traded down 0.66 percent to $1,276.30.
Silver traded down 0.22 percent Monday to $16.64, while copper fell 0.07 percent to $2.953.
Eurozone
European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.51 percent, the Spanish Ibex Index fell 1.21
percent, while Italy’s FTSE MIB Index rose 0.51 percent. Meanwhile the German DAX gained 0.58 percent, and the French CAC 40 gained
0.39 percent while U.K. shares rose 0.90 percent.
Economics
The Markit manufacturing PMI rose to 53.10 for September, versus prior reading of 53.00. However, economists were expecting a
reading of 53.00.
The ISM manufacturing index gained to 60.80 in September, versus previous reading of 58.80. Economists projected a reading of
58.00.
U.S. construction spending rose 0.5 percent for August, versus economists’ expectations for a 0.4 percent gain.
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