Nasdaq Surges Over 1%; Fifth Third Bancorp Earnings Top Views

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 1% on Monday.

Following the market opening Monday, the Dow traded down 0.12% to 51,940.39 while the NASDAQ jumped 1.09% to 26,425.68. The S&P 500 also rose, gaining, 0.54% to 7,700.50.

Leading and Lagging Sectors

Information technology shares jumped by 1.4% on Monday.

In trading on Monday, utilities stocks fell by 0.8%.

Top Headline

Fifth Third Bancorp (NASDAQ:FITB) reported upbeat earnings for the third quarter.

The company posted quarterly earnings of $1.13 per share which beat the analyst consensus estimate of 96 cents per share. The company reported quarterly sales of $3.279 billion which missed the analyst consensus estimate of $3.339 billion.

Equities Trading UP
           

• Silence Therapeutics PLC – ADR (NASDAQ:SLN) shares shot up 126% to $19.58 after the company agreed to be acquired by Merck KGaA, Darmstadt, Germany.
• Shares of J-Star Holding Co Ltd (NASDAQ:YMAT) got a boost, surging 60% to $2.10 after the company issued an update on planned U.S. drone frame production initiative, including ongoing negotiations to acquire a commercial manufacturing facility located in Greater Houston, Texas.
• BitFuFu Inc (NASDAQ:FUFU) shares were also up, gaining 20% to $1.08.

Equities Trading DOWN

• INLIF Ltd (NASDAQ:INLF) shares dipped 87% to $0.33 as the company announced pricing of $3.75 million registered direct offering.
• Shares of EyePoint Inc (NASDAQ:EYPT) were down 81% to $0.57 after the company announced topline results from LUCIA did not achieve its primary endpoint.
• CL Workshop Group Ltd – ADR (NASDAQ:NWGL) was down, falling 36% to $0.15.

Commodities 

In commodity news, oil traded down 0.8% to $100.63 while gold traded up 0.1% at $4,183.60.

Silver traded up 0.6% to $57.66 on Monday, while copper fell 0.1% to $6.5670.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.1%, while Spain’s IBEX 35 Index dipped 1.9%, London’s FTSE 100 fell 1.3%, Germany’s DAX tumbled 1.4%, while France’s CAC 40 declined 1.7%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.62%, China’s SSE Composite Index gaining 0.39% and India’s BSE Sensex dipping 1.17%.

Economics

The NAHB Housing Market Index will be released today.

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