Mid-morning market update: Markets mostly up; The Nasdaq jumps 1%

U.S. stocks mostly traded higher, with the Nasdaq Composite gaining 1% on Monday.

The Dow fell 0.02% to 34,811.93 while the NASDAQ rose 1.03% to 14,408.19. The S&P also rose, gaining 0.35% to 4,561.63.

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Leading and Lagging Sectors

Communications services shares jumped 1.7% on Monday. Meanwhile, top earners in the industry included Twitter, Inc. TWTRup 23% and Perion Network Ltd. PERI up 14%.


In Monday’s trading, utility stocks fell 1.4%.


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U.S. factory orders fell 0.5% month-on-month to $542 billion in February, the first decline since April last year.

Stock exchange rising


Aterian, Inc. ATER shares jumped 49% to $3.4684. Aterian said Cynthia Williams has joined the company’s board of directors.

Shares of Jumia Technologies SA JMIA got a boost, rising 27% to $12.09 after the company announced it would make its last-mile logistics capabilities available to UPS.


Twitter, Inc. TWTR shares also rose, gaining 24% to $48.73 after Tesla CEO Elon Musk disclosed a 9.2% passive stake in the social media company.


Stock trading down

Curis, Inc. CREE shares fell 38% to $1.5150. The FDA has partially suspended Curis Inc’s TakeAim Leukemia Phase 1/2a study in relapsed or refractory (R/R) acute myeloid leukemia (AML) or high-risk myelodysplastic syndrome (MDS).

Shares of Snow Lake Resources Ltd. LITM were down 16% at $8.40.


Iveda Solutions, Inc. IVDA was down, dropping 17% to $3.14. Iveda announced pricing for an $8.0 million public offering, a Nasdaq IPO and a reverse stock split.


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Merchandise

In commodities news, oil was trading up 3.4% at $102.67, while gold was trading down 0.5% at $1,933.90.

Silver was down 0.7% on Monday at $24.475 while copper was up 2% at $4.7840.

Eurozone

European stocks were mostly higher today. The Eurozone STOXX 600 gained 0.7%, London’s FTSE 100 rose 0.2%, while Spain’s IBEX 35 index fell 0.1%. The German DAX gained 0.3%, the French CAC 40 gained 0.4% and the Italian FTSE MIB index climbed 0.1%.

The number of foreign tourist arrivals in Spain rose 1,007.8% year-on-year to 3.157 million in February, while the number of people registered as unemployed in the country fell by 2,921 from the previous month to reach 3.109 million in March. Germany’s trade surplus narrowed to 11.4 billion euros in February from 17.9 billion euros a year ago.

Economy

U.S. factory orders fell 0.5% month-on-month to $542 billion in February, the first decline since April last year.


COVID-19 Update

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,832,610 cases with around 1,008,190 deaths. India has confirmed a total of at least 43,029,040 cases and 521,380 deaths, while Brazil has reported over 29,999,810 COVID-19 cases with 660,260 deaths. In total, there have been at least 491,871,560 cases of COVID-19 worldwide with more than 6,176,620 deaths.

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