U.S. stocks traded higher midway through trading, with the S&P 500 gaining over 1% on Monday.
The Dow traded up 0.45% to 51,917.33 while the NASDAQ climbed 1.77% to 26,992.96. The S&P 500 also rose, gaining, 1.16% to 7,739.48.
Leading and Lagging Sectors
Communication services shares jumped by 3% on Monday.
In trading on Monday, energy stocks fell by 1.9%.
Top Headline
Intel Corp. (NASDAQ:INTC) stock rose about 10% on Monday as chip stocks gained alongside the broader market.
Intel is benefiting from a risk-on market backdrop as traders move into technology and semiconductor stocks.
Equities Trading UP
- Greenland Mines Ltd (NASDAQ:GRML) shares shot up 146% to $7.01 as traders react to historic U.S.-Denmark Greenland security headlines that could put a brighter spotlight on Greenland-linked strategic assets.
- Shares of Greenland Energy Co (NASDAQ:GLND) got a boost, surging 133% to $2.80 as a U.S. agreement with Denmark and Greenland puts a fresh spotlight on the island’s strategic value and its underground resource potential.
- Priority Technology Holdings Inc (NASDAQ:PRTH) shares were also up, gaining 33% to $7.76 after the company announced an all-cash take-private deal.
Equities Trading DOWN
- Telix Pharmaceuticals (NASDAQ:TLX) shares dropped 8% to $11.54 as the company agreed to buy Germany’s ITM Isotope for about $1.65 billion.
- Shares of Novo Nordisk A/S (NYSE:NVO) were down 8% to $39.64. The company released topline results from Phase 3 REIMAGINE 5 and REDEFINE 9 trials of once-weekly Cagrisema (Cagrilintide and Semaglutide).
- Turning Point Brands Inc (NYSE:TPB) was down, falling 8% to $62.72. Turning Point Brands named David E. Glazek as CEO and also reiterated FY26 net sales guidance of $260 million – $270 million.
Commodities
In commodity news, oil traded down 4.1% to $96.16 while gold traded down 0.9% at $4,385.30.
Silver traded down 0.5% to $66.805 on Monday, while copper rose 1.5% to $6.7940.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 climbed 0.9%, while Spain’s IBEX 35 Index rose 1.1%, London’s FTSE 100 gained 0.6%, Germany’s DAX gained 0.9%, while France’s CAC 40 surged 0.7%.
Asia Pacific Markets
Asian markets closed higher on Monday, with Hong Kong’s Hang Seng index rising 1.18%, China’s Shanghai Composite rising 0.97% and India’s BSE Sensex gaining 0.76%.
Economics
The Chicago Fed National Activity Index fell to -0.04 in August versus a revised reading of +0.08 in the previous month.
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