Dow Gains 50 Points; Verizon Earnings Top Views

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 50 points on Monday.

Following the market opening Monday, the Dow traded up 0.12% to 44,394.34 while the NASDAQ rose 0.46% to 20,991.55. The S&P 500 also rose, gaining, 0.28% to 6,314.37.

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Leading and Lagging Sectors

Communication services shares jumped by 1.3% on Monday.

In trading on Monday, health care stocks dipped by 0.4%.

Top Headline

Verizon Communications Inc. (NYSE:VZ) reported better-than-expected second-quarter financial results and raised guidance.

Verizon posted adjusted earnings of $1.22 per share, beating market estimates of $1.19 per share. The company's quarterly sales came in at $34.50 billion beating expectations of $33.57 billion.

Equities Trading UP
           

• ProMIS Neurosciences, Inc. (NASDAQ:PMN) shares shot up 132% to $1.0299 after the company announced the FDA granted received Fast Track designation to PMN310.
• Shares of ZimVie Inc. (NASDAQ:ZIMV) got a boost, surging 122% to $18.73 after the company agreed to be acquired by ARCHIMED for $19.00 per share in cash.
• reAlpha Tech Corp. (NASDAQ:AIRE) shares were also up, gaining 80% to $0.3453. reAlpha Tech announced the closing of $2 million public offering.

Equities Trading DOWN

• OceanPal Inc.  (NASDAQ:OP) shares dropped 67% to $0.5390 after the company priced an upsized $18 million public offering of 10.975 million units at $1.64 per unit.
• Shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) were down 63% to $1.14.
• Top Wealth Group Holding Limited (NASDAQ:TWG) was down, falling 24% to $7.31.

Commodities

In commodity news, oil traded down 0.5% to $67.02 while gold traded up 1.1% at $3,396.40.

Silver traded up 1.8% to $39.145 on Monday, while copper rose 0.4% to $5.6250.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.2%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 slipped 0.1%, Germany's DAX 40 declined 0.2% and France's CAC 40 dipped 0.6% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng gaining 0.68%, China's Shanghai Composite gaining 0.72% and India's BSE Sensex rising 0.54%.

Economics

No major economic reports are scheduled for release today.

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