Gold Gains 1%; NY Empire State Manufacturing Index Rises In August - argenx (NASDAQ:ARGX), NexGel (NASDAQ

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U.S. stocks traded mixed midway through trading, with the S&P 500 falling around 0.2% on Monday.

The Dow traded down 0.38% to 53,525.83 while the NASDAQ rose 0.09% to 26,753.90. The S&P 500 also fell, dropping, 0.16% to 7,773.83.

Leading and Lagging Sectors

Industrials shares jumped by 0.2% on Monday.

In trading on Monday, consumer staples stocks fell by 1%.

Top Headline

The New York Fed’s Empire State Manufacturing Index surged to 20.6 in August from a reading of 15.6 in the previous month and topping market estimates of 11.

Equities Trading UP
           

OmniAb Inc (NASDAQ: OABI ) shares shot up 18% to $4.00 after the company revised its FY26 cash and cash equivalent guidance above prior expectations. The company announced a a global collaboration and license agreement with Eli Lilly and Company for a new ion channel program. Shares of INVO Fertility Inc (NASDAQ: IVF ) got a boost, surging 158% to $2.46 after the company reported better-than-expected second-quarter EPS results. argenx SE – ADR (NASDAQ: ARGX ) shares were also up, gaining 15% to $978.31 after the company reported positive topline results from its Phase 3 ALKIVIA study.

Equities Trading DOWN

EyePoint Inc (NASDAQ: EYPT ) shares dropped 71% to $4.26 after the company announced topline results from LUGANO, the first pivotal Phase 3 clinical trial for DURAVYU. Shares of Enovix Corp (NASDAQ: ENVX ) were down 17% to $3.63. Enovix announced that Raj Talluri has resigned his position as CEO and director. The company also appointed CFO Ryan Benton as interim CEO. Nexgel Inc (NASDAQ: NXGL ) was down, falling 38% to $0.35 after the company announced weak quarterly results.

Commodities

In commodity news, oil traded up 0.4% to $82.76 while gold traded up 1% at $4,480.70.

Silver traded up 2.3% to $66.59 on Monday, while copper fell 0.1% to $6.6075.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, while Spain’s IBEX 35 Index slipped 0.4% London’s FTSE 100 fell 0.2%, Germany’s DAX declined 0.2%, while France’s CAC 40 dropped 0.5%.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.74%, Hong Kong’s Hang Seng index surging 1.34%, China’s Shanghai Composite rising 1.41% and India’s BSE Sensex falling 0.36%.

Economics

The New York Fed’s Empire State Manufacturing Index surged to 20.6 in August from a reading of 15.6 in the previous month and topping market estimates of 11.

Photo via Shutterstock

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Posted In: Trading Ideas Intraday Update News Commodities Eurozone Equities Mid-Day Market Update