Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 300 points on Monday.
The Dow traded up 0.89% to 38,321.05 while the NASDAQ rose 0.70% to 16,288.03. The S&P 500 also rose, gaining, 0.80% to 5,164.30.
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Leading and Lagging Sectors
Financial shares jumped by 1.5% on Friday.
In trading on Friday, real estate shares rose by just 0.3%.
Top Headline
Goldman Sachs Group Inc. (NYSE: GS) reported better-than-expected first-quarter earnings on Monday.
Goldman Sachs reported revenue of $14.21 billion for the first quarter of 2024, beating the consensus of $12.92 billion. The U.S. financial services giant reported EPS of $11.58, beating the consensus of $8.60.
Equities Trading UP
Soligenix, Inc. (NASDAQ: SNGX) shares shot up 98% to $0.7699 after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.
Shares of Longeveron Inc. (NASDAQ: LGVN) got a boost, surging 70% to $2.87 following insider buys from multiple company executives.
Organovo Holdings, Inc. (NASDAQ: ONVO) shares were also up, gaining 23% to $1.2613 after the company announced Phase 2 results for FXR314. Study results demonstrated statistically significant reduction in liver fat content from baseline in patients receiving FXR314 compared to placebo.
Equities Trading DOWN
Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) shares dropped 76% to $1.7680 after the company provided an update on the Phase 3 RAISE trial and reported preliminary Q1 financial results.
Shares of ProMIS Neurosciences, Inc. (NASDAQ: PMN) were down 29% to $1.63.
PaxMedica, Inc. (NASDAQ: PXMD) was down, falling 23% to $0.6501. PaxMedica, last week, announced the completed execution of three pivotal registration/validation batches of PAX-101.
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Commodities
In commodity news, oil traded up 0.5% to $85.43 while gold traded down 0.8% at $2,353.50.
Silver traded down 0.6% to $28.075 on Friday, while copper rose 0.1% to $4.2580.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.8%, London’s FTSE 100 gained 0.1% while Spain’s IBEX 35 Index rose 0.6% The German DAX gained 1.4% French CAC 40 climbed 1.3% while Italy’s FTSE MIB Index jumped 1.5%.
Industrial production in the eurozone increased by 0.8% month-over-month in February.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.74%, Hong Kong’s Hang Seng Index dropping 0.72%, China’s Shanghai Composite gaining 1.26% and India’s S&P BSE Sensex dipping 1.14%.
Indian merchandise trade deficit shrank to $15.6 billion in March versus a year-ago gap of $18.1 billion, while wholesale prices rose by 0.53% year-over-year in March versus a 0.20% gain in the prior month.
Economics
The NY Empire State Manufacturing Index climbed to -14.3 in April versus prior month’s reading of -20.9.
Retail sales increased 0.7% month-over-month in March following a revised 0.9% rise in February.
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