Dow Jumps Over 300 Points; ON Semiconductor Earnings Top Views – Healthcare Triangle (NASDAQ:HCTI)
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 300 points on Monday.
Following the market opening Monday, the Dow traded up 0.81% to 42,454.94 while the NASDAQ rose 0.53% to 18,616.62. The S&P 500 also rose, gaining, 0.45% to 5,834.35.
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Leading and Lagging Sectors
Real estate shares rose by 1% on Monday.
In trading on Thursday, energy shares fell by 1.6%.
Top Headline
ON Semiconductor Corp ON posted better-than-expected earnings for the third quarter on Monday.
The company posted a revenue decline of 19.2% year-on-year to $1.76 billion, beating the analyst consensus estimate of $1.75 billion. The adjusted EPS of 99 cents beat the analyst consensus estimate of 97 cents.
Equities Trading UP
- Healthcare Triangle, Inc. HCTI shares shot up 157% to $1.49 after the company disclosed in a filing that it acquired the business, assets, and operations relating to cloud and technology domain of Securekloud Technologies.
- Shares of Autonomix Medical, Inc. AMIX got a boost, surging 126% to $17.48 after the company reported preliminary results from its clinical trial of RF Ablation technology where 100% of its responder group was able to eliminate opioid use and reduce pain scores.
- Evoke Pharma, Inc. EVOK shares were also up, gaining 114% to $10.99 after the company announced the presentation of GLP-1 data for users with diabetic gastoparesis using GIMOTI and showed statistically significant improvements.
Equities Trading DOWN
- SMX (Security Matters) Public Limited Company SMX shares dropped 66% to $0.4686.
- Shares of Sonnet BioTherapeutics Holdings, Inc. SONN were down 19% to $4.84. Sonnet BioTherapeutics recently announced it regained compliance with Nasdaq.
- Upexi, Inc. UPXI was down, falling 23% to $6.26. Upexi shares jumped 170% on Friday after the company said it is currently reviewing trading activity to determine if recent activity involved possible stock manipulation.
Commodities
In commodity news, oil traded down 5.8% to $67.63 while gold traded down 0.1% at $2,753.30.
Silver traded up 0.4% to $33.915 on Monday, while copper fell 0.3% to $4.3585.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.2%, Germany’s DAX gained 0.1% and France’s CAC 40 rose 0.5%. Spain’s IBEX 35 Index rose 0.4%, while London’s FTSE 100 rose 0.1%.
Retail sales in Spain rose by 4.1% year-over-year in September, while retail sales volumes in the UK fell by 6% in October following a 4% increase in September.
Asia Pacific Markets
Asian markets closed higher on Monday, with Japan’s Nikkei 225 gaining 1.82%, Hong Kong’s Hang Seng Index gaining 0.05%, China’s Shanghai Composite Index gaining 0.68% and India’s BSE Sensex surging 0.76%.
Hong Kong’s trade deficit shrank to $53.2 billion in September from $64.6 billion in the year-ago month.
Economics
The Dallas Fed Manufacturing Index will be released today.
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