Dow Surges 600 Points; Tyson Foods Shares Fall After Q3 Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 600 points on Monday.

Following the market opening Monday, the Dow traded up 1.19% to 53,111.43 while the NASDAQ rose 0.75% to 25,563.98. The S&P 500 also rose, gaining, 0.68% to 7,540.32.

Leading and Lagging Sectors

Communication services shares jumped by 3% on Monday.

In trading on Monday, energy stocks fell by 1.7%.

Top Headline

Shares of Tyson Foods (NYSE:TSN) fell around 4% on Monday after the company posted results for the third quarter.

The company reported quarterly earnings of 99 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $13.868 billion which missed the analyst consensus estimate of $14.116 billion.

Equities Trading UP
           

• Hydrofarm Holdings Group Inc (NASDAQ:HYFM) shares shot up 407% to $2.74 after the company announced the sale of it Aurora Peat unit for $16 million, with proceeds going to pay down term loan debt.
• Shares of Reitar Logtech Holdings Ltd (NASDAQ:RITR) got a boost, surging 220% to $0.18. The company announced that its Jingxing HK unit signed an MoU with Cainiao to cooperate on smart warehousing and automated logistics projects overseas.
• Reliance Global Group Inc (NASDAQ:EZRA) shares were also up, gaining 130% to $4.18 after the company announced the sale of its Altruis Benefit Consulting unit for $11 million in cash.

Equities Trading DOWN

• eLong Power Holding Ltd (NASDAQ:ELPW) shares dropped 52% to $0.085 after the company announced pricing of $1.38 million public offering.
• Shares of FingerMotion Inc (NASDAQ:FNGR) were down 34% to $0.18 after rising 14% on Friday.
• Wetour Robotics Ltd (NASDAQ:WETO) was down, falling 28% to $6.48.

Commodities

In commodity news, oil traded down 6.3% to $79.31 while gold traded down 0.3% at $4,096.40.

Silver traded down 1.4% to $56.975 on Friday, while copper fell 0.1% to $6.4595.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 gained 0.3%, while Spain’s IBEX 35 Index rose 0.6% London’s FTSE 100 fell 0.1%, Germany’s DAX gained 1.3%, while France’s CAC 40 gained 1.1%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.94%, Hong Kong’s Hang Seng index rising 0.48%, China’s Shanghai Composite declining 0.59% and India’s BSE Sensex gaining 0.70%.

Economics

The ISM manufacturing PMI will be released today.

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