Midday Market Update: Crude Oil Down 2.5%; Golden Nugget online gaming shares jump
Midway through Monday’s session, the Dow Jones traded 0.23% to 35,126.98 while the NASDAQ rose 0.20% to 14,866.01. The S&P also fell, falling 0.08% to 4,432.96.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 35,765,100 cases with an estimated 616,820 deaths. India has confirmed a total of at least 31,969,950 cases and 428,300 deaths, while Brazil has reported more than 20,165,670 COVID-19 cases with 563,150 deaths. In total, there have been at least 202,803,140 cases of COVID-19 worldwide with more than 4,296,910 deaths, according to data compiled by Johns Hopkins University.
Sectors ahead and behind
Financial stocks rose 0.5% on Monday. Meanwhile, the top industry winners included Bancorp PCB (NASDAQ: PCB), up 6% and Silvergate capital company (NYSE: SI) up 3%.
In Monday’s trading, energy stocks fell 1%.
DISH Network Corporation (NASDAQ: DISH) on Monday posted better-than-expected results for its second quarter.
DISH Network reported quarterly earnings of $ 1.06 per share, beating market estimates of $ 0.88 per share. The company’s quarterly sales were $ 4.49 billion, compared to $ 4.43 billion expected by analysts.
Bullish stock trading
Golden Nugget, Inc. online game. (NASDAQ: GNOG) Shares jumped 48% to $ 18.20 after the company and DraftKings announced that they had reached a definitive deal for DraftKings to acquire Golden Nugget Online Gaming in an all-out deal. shares valued at $ 1.56 billion.
Actions of Cortexyme, Inc. (NASDAQ: CRTX) got a boost, reaching 24% to $ 83.01 after the company released second quarter results and released a business update.
Select Interior Concepts, Inc. Shares (NASDAQ: SIC) also rose, gaining 30% to $ 14.28 after the company announced its acquisition by a subsidiary of Sun Capital Partners for $ 411 million.
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Downward trading of stocks
Axsome Therapeutics, Inc. Shares (NASDAQ: AXSM) fell 42% to $ 29.67 after the company said it received a letter from the FDA regarding the NDA for AXS-05 indicating that the FDA “has identified loopholes that prevent discussions on labeling at the moment “. The company also released second quarter results.
Actions of Aterian, Inc. (NASDAQ: ATER) fell 40% to $ 4.9650 after the company reported worse-than-expected second quarter results.
BioVie Inc. (NASDAQ: BIVI) was down, falling 35% to $ 8.29 after the company valued its public offering of 2.5 million shares at $ 8.00 per share for gross proceeds of 20 million of dollars.
In the commodities news, oil traded down 2.5% to $ 66.55, while gold traded down 1.8% to $ 1,730.70.
Silver traded 3.7% on Monday to $ 23.43 while copper fell 1.3% to $ 4.2905.
European stocks were mixed today. The eurozone STOXX 600 gained 0.15%, the Spanish Ibex index fell 0.15% and the German DAX 30 lost 0.1%. Meanwhile, London’s FTSE 100 rose 0.13%, the French CAC 40 slipped 0.06% and the Italian FTSE MIB gained 0.54%.
Germany’s trade surplus rose to 16.3 billion euros in June from 15.4 billion euros a year ago, while the current account surplus widened to 22.5 billion. billion euros compared to 20.3 billion euros.
The number of vacancies rose from 590,000 to 10.073 million in June.
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