Following the market opening Monday, the Dow traded up 2.88% to 24,368.38 while the NASDAQ rose 1.79% to 9,175.52. The S&P also rose, gaining 2.46% to 2,934.05.
The U.S. is the new epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. U.S. reported a total of 1,486,740 coronavirus cases with around 89,560 deaths. Britain confirmed a total of over 244,990 coronavirus cases with 34,710 deaths, while Russia reported a total of at least 290,670 confirmed cases and 2,720 deaths. In total, there were at least 4,730,960 cases of COVID-19 worldwide with over 315,480 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Monday, consumer staples shares rose by just 1.2%.
International Game Technology PLC (NYSE: IGT) reported better-than-expected earnings for its first quarter, while sales missed views.
International Game Technology reported first-quarter earnings of 8 cents per share, which beat the analyst consensus estimate of 4 cents. The company reported quarterly sales of $940.00 million, which missed the analyst consensus estimate of $1.01 billion.
International Game Technology withdrew its 2020 guidance and said it has identified $500 million of cost savings for 2020.
Equities Trading UP
Aurora Cannabis Inc. (NYSE: ACB) shares shot up 37% to $15.32. Aurora Cannabis shares jumped 69% on Friday after the company reported a rise in Q3 sales.
Shares of ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) got a boost, shooting 99% to $0.6376 after reporting Q2 results. ALJ Regional’s quarterly sales rose to $96.00 million from $87.996 million.
AgroFresh Solutions, Inc. (NASDAQ: AGFS) shares were also up, gaining 34% to $3.58 after surging 31% on Friday.
Equities Trading DOWN
Midatech Pharma plc (NASDAQ: MTP) shares tumbled 39% to $1.55 after the company reported a $3.0 million registered direct offering.
Shares of Forescout Technologies, Inc. (NASDAQ: FSCT) were down 20% to $23.64. ForeScout Technologies said Advent will not consummate its acquisition of ForeScout on May 18 as originally scheduled. The two companies are still discussion acquisition terms.
Alpha Pro Tech, Ltd. (NYSE: APT) was down, falling 10% to $13.51.
In commodity news, oil traded up 8.1% to $31.81, while gold traded up 0.9% to $1,771.40.
Silver traded up 3.8% Monday to $17.71, while copper rose 2.3% to $2.383.
European shares were higher today. The eurozone’s STOXX 600 gained 2%, the Spanish Ibex Index rose 1.7%, while Italy’s FTSE MIB Index rose 1.1%. Meanwhile, the German DAX gained 2.7%, and the French CAC 40 gained 2.2% while UK shares rose 2.4%.
The NAHB housing market index climbed to 37 in May, versus a reading of 30 in April.
The Treasury will auction 3-and 6-month bills at 11:30 a.m. ET.