Dow Jumps Over 800 Points; Chicago Fed National Activity Index Declines In February

U.S. stocks traded higher this morning, with the Dow Jones gaining more than 800 points on Monday.

Following the market opening Monday, the Dow traded up 1.87% to 46,429.56 while the NASDAQ jumped 1.96% to 22,071.52. The S&P 500 also rose, gaining, 1.75% to 6,620.06.

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Leading and Lagging Sectors

Consumer discretionary shares climbed by 3% on Monday.

In trading on Monday, energy stocks rose by just 0.3%.

Top Headline

The Chicago Fed National Activity Index declined to -0.11 in February versus a revised reading of +0.20 in the previous month.

Equities Trading UP
           

• Apogee Therapeutics Inc (NASDAQ:APGE) shares shot up 19% to $78.50 after the company announced 52-week maintenance data from Part A of its Phase 2 APEX clinical trial of zumilokibart, a potential best-in-class anti-IL-13 antibody, in patients with moderate-to-severe atopic dermatitis.
• Shares of Mangoceuticals Inc (NASDAQ:MGRX) got a boost, surging 114% to $0.35.
• urban-gro Inc (NASDAQ:UGRO) shares were also up, gaining 70% to $3.71 after the company announced that its merger with Sri Lanka’s Innovative Production Group, including its portfolio of T20 league commercial rights, has been completed.

Equities Trading DOWN

• Hitek Global Inc (NASDAQ:HKIT) shares dropped 83% to $0.21.
• Shares of Linkers Industries Ltd (NASDAQ:LNKS) were down 82% to $0.12 after the company announced a $16 million public offering.
• Valneva SE (NASDAQ:VALN) was down, falling 35% to $6.74. Pfizer (NYSE:PFE) and Valneva disclosed topline results from Phase 3 VALOR clinical trial of investigational 6-Valent OspA-based Lyme disease vaccine candidate PF-0730740.

Commodities

In commodity news, oil traded down 9.9% to $88.53 while gold traded down 2.5% at $4,460.40.

Silver traded down 0.1% to $69.625 on Monday, while copper rose 1.7% to $5.4655.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.6%, while Spain's IBEX 35 Index rose 2.2%. London's FTSE 100 rose 0.8%, Germany's DAX gained 2.4% and France's CAC 40 gained 1.9% during the session.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 falling 3.48%, Hong Kong's Hang Seng index falling 3.54%, China's Shanghai Composite falling 3.63% and India's BSE Sensex falling 2.46%.

Economics

• The Chicago Fed National Activity Index declined to -0.11 in February versus a revised reading of +0.20 in the previous month.
• U.S. construction spending fell 0.3% month-over-month in January to an annual rate of $2.19 trillion, compared to a revised 0.8% gain in December.

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