Gold Rises Over 2%; US Durable Goods Orders Jump In November

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 150 points on Monday.

The Dow traded up 0.36% to 49,276.58 while the NASDAQ gained 0.77% to 23,682.70. The S&P 500 also rose, gaining, 0.64% to 6,959.60.

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Leading and Lagging Sectors

Communication services shares gained by 1.8% on Monday.

In trading on Monday, consumer discretionary stocks fell by 0.3%.

Top Headline

U.S. durable-goods orders rose 5.3% month-over-month in November following a revised 2.1% plunge in October and topping market estimates of a 3.7% increase.

Equities Trading UP
           

• Battalion Oil Corp (BATL) shares shot up 235% to $4.29 after the company switched its gas processing partner and boosted production.
• Shares of Brand Engagement Network Inc (BNAI) got a boost, surging 105% to $33.72 following a strategic partnership announcement that has reinvigorated investor interest.
• Lands’ End Inc shares were also up, gaining 40% to $19.72 after the company announced an agreement to form a new joint venture with WHP Global unlock the value of Lands' End's (LE) intellectual property.

Equities Trading DOWN

• Revolution Medicines Inc (RVMD) shares dropped 17% to $97.92 following reports suggesting that Merck is no longer in discussions to acquire the company.
• Shares of CN ENERGY GROUP Inc (CNEY) were down 43% to $0.46 after the company received Nasdaq Delisting determination for minimum bid price deficiency.
• Satellogic Inc (SATL) was down, falling 14% to $4.51 after the company announced pricing of a $35 million registered direct offering of common stock.

Commodities

In commodity news, oil traded down 0.4% to $60.85 while gold traded up 2.2% at $5,087.80.

Silver traded up 12.8% to $114.325 on Monday, while copper rose 0.8% to $5.994.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.20%, while Spain's IBEX 35 Index rose 0.78%. London's FTSE 100 rose 0.05%, Germany's DAX rose 0.13% and France's CAC 40 fell 0.15% during the session.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei falling 1.79%, Hong Kong's Hang Seng Index gaining 0.06% and China's Shanghai Composite declining 0.09%.

Economics

• The Chicago Fed National Activity Index climbed to -0.04 in November from a reading of -0.42 in October.
• U.S. durable-goods orders rose 5.3% month-over-month in November following a revised 2.1% plunge in October and topping market estimates of a 3.7% increase.
• The Dallas Fed's general business activity index for Texas manufacturing rose 10 points to a reading of -1.2 in January.

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