US stocks traded in a mixed bag on Monday, with the Dow Jones Industrial Average surging over 200 points, reflecting a positive sentiment among investors. However, the NASDAQ and S&P 500 indices saw declines, indicating some caution in the market. The Dow finished the day up 0.54% at 41,618.01, while the NASDAQ fell 0.69% to 17,562.23, and the S&P 500 dipped 0.06% to 5,622.81.
Energy shares led the gains, rising by 1.7% on the day, suggesting optimism about the sector’s performance. On the other hand, information technology shares lagged, falling by 1.4%, potentially reflecting concerns about the technology sector’s outlook.
In a positive sign for the US economy, the NY Empire State Manufacturing Index climbed to 11.5 in September, reaching its highest level since April 2022. This index measures business activity in the New York manufacturing sector and its strong reading suggests potential growth in the manufacturing industry.
Several individual stocks saw significant moves. NuCana plc (NCNA) shares surged 170% after the company announced positive results from a Phase 2 clinical trial for its cancer treatment. Bone Biologics Corporation (BBLG) and Dermata Therapeutics, Inc. (DRMA) also saw strong gains, up 47% and 42%, respectively. Conversely, Dunxin Financial Holdings Limited (DXF), Immutep Limited (IMMP), and NWTN Inc. (NWTN) saw substantial drops, falling 21%, 25%, and 19%, respectively.
Commodities also showed mixed trends. Oil prices rose 1.4% to $69.59 per barrel, while gold prices dipped 0.1% to $2,608.10. Silver and copper prices, however, showed gains, increasing by 0.7% and 0.6%, respectively.
In Europe, major stock indices were mostly lower. The eurozone’s STOXX 600 fell 0.1%, Germany’s DAX declined 0.3%, and France’s CAC 40 dipped 0.2%. However, Spain’s IBEX 35 Index rose 0.1%, while London’s FTSE 100 fell 0.02%. The Eurozone recorded a trade surplus of EUR 21.2 billion in July, exceeding market estimates. Wage growth in the Eurozone also remained strong, with wages increasing by 4.5% year-over-year in the second quarter. Italy also reported a trade surplus for July.
Asian markets, on the other hand, closed mostly higher on Monday. Hong Kong’s Hang Seng Index gained 0.31%, and India’s BSE Sensex rose 0.12%. However, total passenger vehicle sales in India saw a decline of 1.6% year-over-year in August.
