US stocks traded mixed this morning, with the Dow Jones gaining around 250 points on Monday.
After Monday’s market open, the Dow Jones rose 0.84% to 31,524.56 while the NASDAQ fell 0.26% to 11,324.59. The S&P also rose, gaining 0.33% to 3,914.14.
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Leading and Lagging Sectors
Financial stocks rose 1.9% on Monday. Meanwhile, top earners in the industry included Forge Global Holdings, Inc. FRGup 19% and Ocwen Financial Corporation OCN up 8%.
In Monday’s trading, real estate stocks fell 0.3%.
Broadcom Inc. AVGO reportedly in talks to take over cloud computing company VMWare Inc. vmw.
The San Jose, Calif.-based semiconductor and infrastructure software solutions company is looking to buy VMWare, Bloomberg reported, citing people familiar with the matter.
Stock exchange rising
Forge Global Holdings, Inc. FRG shares jumped 20% to $21.18 after falling 15% on Friday.
Shares of VMware, Inc. vmw got a boost, shooting 17% to $111.84 following several reports that Broadcom is in talks to acquire the company.
O2Micro International Limited OIIM shares also rose, gaining 15% to $3.3659. O2Micro has announced receipt of an updated non-binding preliminary proposal to acquire the company.
Stock trading down
Evoke Pharma, Inc. EVOK shares fell 23% to $2.36 after the effect of the 1:12 reverse stock split.
Shares of NanoViricides, Inc. NNVC were down 19% at $2.1113 after jumping around 40% on Friday.
PowerSchool Holdings, Inc. PWGSC was down, dropping 16% to $10.94. The company recently released lackluster quarterly results.
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In the commodities news, oil was trading up 0.5% at $110.88, while gold was trading up 1% at $1,860.50.
Silver traded up 2.1% to $22.125 on Monday while copper rose 0.4% to $4.2915.
European stocks were mostly higher today. The Eurozone STOXX 600 gained 1%, London’s FTSE 100 jumped 1.3% and Spain’s IBEX 35 index rose 1.1%. The German DAX climbed 1.1%, the French CAC 40 gained 0.4% and the Italian FTSE MIB index fell 0.3%.
The Ifo business climate indicator for Germany hit a three-month high of 93 in May from a revised reading of 91.9 in April.
The Chicago Fed’s national activity index hit 0.47 points in April from a three-month low of 0.36 points the previous month.
The Treasury is expected to auction 3- and 6-month bills at 11:30 a.m. ET.
Atlanta Federal Reserve Chairman Raphael Bostic will speak at 12:00 p.m. ET.
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The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 85,004,430 cases with around 1,028,920 deaths. India has confirmed a total of at least 43,138,390 cases and 524,450 deaths, while Brazil has reported over 30,791,220 COVID-19 cases with 665,680 deaths. In total, there have been at least 527,804,110 cases of COVID-19 worldwide with more than 6,300,510 deaths.