Nasdaq Surges Over 3%; Fox Posts Upbeat Q3 Results

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 3% on Monday.

Following the market opening Monday, the Dow traded up 2.39% to 42,235.25 while the NASDAQ gained 3.34% to 18,527.97. The S&P 500 also rose, gaining, 2.52% to 5,802.48.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 4.7% on Monday.

In trading on Monday, consumer staples stocks rose by just 0.1%.

Top Headline

Fox Corporation (NASDAQ:FOXA) reported better-than-expected earnings for its third quarter on Monday.

The company posted quarterly earnings of $1.10 per share which beat the analyst consensus estimate of 90 cents per share. The company reported quarterly sales of $4.37 billion which beat the analyst consensus estimate of $4.16 billion.

Equities Trading UP
                       

• Gryphon Digital Mining, Inc. (NASDAQ:GRYP) shares shot up 358% to $2.38 after the company announced a merger agreement with American Bitcoin.
• Shares of Kindly MD, Inc. (NASDAQ:KDLY) got a boost, surging 474% to $22.50 after the company announced a merger agreement with Nakamoto Holdings to start a Bitcoin treasury strategy.
• LQR House Inc. (NASDAQ:YHC) shares were also up, gaining 229% to $6.55.

Equities Trading DOWN

• Superior Industries International, Inc. (NYSE:SUP) shares dropped 69% to $0.9001 after the company reported worse-than-expected first-quarter EPS results and announced it is withdrawing its FY25 guidance.
• Shares of Abits Group Inc. (NASDAQ:ABTS) were down 60% to $3.35.
• Global IBO Group Ltd (NASDAQ:GIBO) was down, falling 40% to $4.2003.

Commodities

In commodity news, oil traded up 3.2% to $62.98 while gold traded down 2.9% at $3,247.20.

Silver traded down 0.2% to $32.835 on Monday, while copper fell 0.6% to $4.6230.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 1%, while Spain's IBEX 35 Index rose 0.2%. London's FTSE 100 gained 0.4%, Germany's DAX 40 slipped 0.1% and France's CAC 40 gained 1.5% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei gaining 0.38%, Hong Kong's Hang Seng Index gaining 2.98%, China's Shanghai Composite Index gaining 0.82% and India's BSE Sensex jumping 3.74%.

Economics

The U.S. government budget report for April will be released today.

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