Toward the end of trading Monday, the Dow traded up 0.17 percent to 26,115.51 while the NASDAQ gained 0.60 percent to 7,380.30.
The S&P also rose, gaining 0.39 percent to 2,821.31.
Leading and Lagging Sectors
Monday afternoon, the energy sector proved to be a source of strength for the market. Leading the sector was strength from
Halliburton Company (NYSE: HAL) and Resolute Energy
Corp (NYSE: REN).
In trading on Monday, basic materials shares fell 0.33 percent. Meanwhile, top losers in the sector included AK Steel Holding
Corporation (NYSE: AKS), down 4 percent, and OMNOVA
Solutions Inc. (NYSE: OMN) down 3 percent.
Top Headline
Halliburton Company (NYSE: HAL) posted
stronger-than-expected results for its fourth quarter.
Halliburton posted adjusted earnings of $0.53 per share in the quarter on revenue of $5.94 billion which exceeded Wall Street's
expectations for $0.46 per share and $5.63 billion.
Equities Trading UP
Bioverativ Inc (NASDAQ: BIVV) shares shot up 62
percent to $103.64. Sanofi SA (ADR) (NYSE: SNY)
announced plans to acquire Bioverativ for $11.6 billion, or $105 per share in cash.
Shares of Validus Holdings, Ltd. (NYSE: VR) got a
boost, shooting up 44 percent to $67.36 after American International Group Inc (NYSE: AIG) announced plans to acquire Validus for $68 per share in cash.
Juno Therapeutics Inc (NASDAQ: JUNO) shares were
also up, gaining 27 percent to $85.85 as the company agreed to be acquired for $87 per share in cash by Celgene Corporation
(NASDAQ: CELG).
Equities Trading DOWN
Sanmina Corp (NASDAQ: SANM) shares dropped 24
percent to $27.00 after the company lowered its forecast for the first quarter and also issued a weak outlook for the second
quarter.
Shares of Recon Technology, Ltd. (NASDAQ: RCON)
were down 23 percent to $2.01. Recon Technology priced its 3.96 million share registered direct offering at $1.66 per share.
Idera Pharmaceuticals Inc (NASDAQ: IDRA) was down,
falling around 18 percent to $2.09. BioCryst Pharma and Idera Pharma announced plans to merge.
Commodities
In commodity news, oil traded up 0.17 percent to $63.48 while gold traded down 0.09 percent to $1,331.90.
Silver traded down 0.30 percent Monday to $16.985, while copper rose 0.47 percent to $3.2025.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.31 percent, the Spanish Ibex Index climbed 1 percent, while
Italy’s FTSE MIB Index gained 0.59 percent. Meanwhile the German DAX gained 0.22 percent, and the French CAC 40 rose 0.28 percent
while U.K. shares fell 0.20 percent.
Economics
USA Chicago Fed National Activity Index rose to 0.27 for December, versus prior reading of 0.15. However, economists were
expecting a reading of 0.44.
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