Wed. Oct 4th, 2023
    US Stocks Trade Higher as Dow Jones Gains 70 Points

    U.S. stocks traded higher on Monday, with the Dow Jones Industrial Average gaining around 70 points. The Dow rose 0.21% to 34,690.63, while the NASDAQ increased 0.21% to 13,736.52. The S&P 500 also saw gains, rising 0.26% to 4,461.92.

    Energy shares were the leading sector, rising by 0.9%, while consumer discretionary shares fell by 0.9%.

    The NAHB/Wells Fargo Housing Market Index fell for a second month to a reading of 45 in September. This marks the weakest level in five months, compared to 50 in August and market estimates of 50.

    In positive stock news, Nikola Corporation saw its shares rise 17% after announcing the appointment of a new chief operating officer. Avinger, Inc. also experienced a boost, with its shares shooting up 76% following the announcement of the commercial launch of its Tigereye ST image-guided CTO crossing device. SeqLL Inc. saw a 41% increase in shares after announcing the date of its cash and stock dividend.

    However, Canopy Growth Corporation saw a decline of 15% after announcing a private placement of up to $50 million. Rubicon Technologies, Inc. also experienced a drop of 17% after reporting a 1-for-8 reverse stock split. AgriFORCE Growing Systems Ltd. fell 25%, following the announcement of its commercial launch and first purchase order for its AgriFORCE-RCS Hydroxyl Device.

    In commodity news, oil traded up 1.3% to $91.96, while gold traded up 0.1% at $1,948.70. Silver traded down 0.2% to $23.35, and copper fell 0.7% to $3.7740.

    In global markets, European shares were lower, as the eurozone’s STOXX 600, London’s FTSE 100, Spain’s IBEX 35 Index, Germany’s DAX, and France’s CAC 40 all experienced declines. Asian markets, on the other hand, closed mostly higher, with Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, and India’s S&P BSE Sensex all seeing gains.

    As of the latest COVID-19 update, the U.S. has the highest number of cases and deaths worldwide, with over 108 million cases and 1.1 million deaths reported. India, France, and other countries have also reported significant numbers of COVID-19 cases and deaths.

    – NAHB/Wells Fargo Housing Market Index
    – Nikola Corporation announcement
    – Avinger, Inc. announcement
    – SeqLL Inc. announcement
    – Canopy Growth Corporation announcement
    – Rubicon Technologies, Inc. announcement
    – AgriFORCE Growing Systems Ltd. announcement