US Markets Turn Higher As Dow Jumps Over 100 Points – BYND Cannasoft Enterprise (NASDAQ:BCAN), BioLine Rx (NASDAQ:BLRX)


US stocks traded higher in volatile trading late in the session, with the Dow Jones up more than 100 points on Monday.

The Dow was up 0.42% to 30,951.15, while the NASDAQ was up 0.55% to 11,511.91. The S&P 500 was also up 0.46% to 3,890.96.

Also Check This: US stocks fall to two-month lows amid higher volatility



Leading and lagging sectors


Materials stocks rose 0.8% on Monday. Meanwhile, top winners in the industry are among them Coeur Mining, Inc. CDEup to 13% and Glattfelter Corporation GLT increased by 12%.


In Monday trading, healthcare stocks fell 1.3%.



top heading


The NAHB housing market index declined for the ninth straight month to 46 in September, compared to market expectations of 47. This was the lowest reading since May 2020.



Stock trading UP

  • KnowBe4, Inc. KNBE Shares rose 28% to $22.11 after the company confirmed it had received a non-binding offer from Vista Equity Partners Management to purchase all of the company’s outstanding shares for $24 per share.
  • shares of BYND Cannasoft Enterprises Inc. BCAN received a boost, rising 68% to $6.97 after the company announced it had entered into a stock purchase agreement to acquire 100% of Zigi Carmel Initiatives & Investments for $28 million in stock.
  • Lila Innovation, Inc. PRPL Shares also rose, gaining 43% to $3.9850 after the company confirmed it had received an unsolicited, non-binding offer from Coliseum Capital Management to purchase all of Purple’s outstanding shares for $4.35 per share.

Stocks are trading down

  • Virios Therapeutics, Inc. VIRI Shares fell 72% to $2.44 after the company announced top-line results from a Phase 2b study of IMC-1 in fibromyalgia and said the “study did not have statistical significance for the pre-specified primary.” Effectiveness endpoint of change reached”.
  • shares of Sonnet BioTherapeutics Holdings, Inc. SON fell 37% to $1.72. Sonnet BioTherapeutics reported a 1:14 reverse stock split.
  • BioLineRx Ltd. BLRX declined, falling 31% to $1.07 after the company announced a $15 million registered direct offering.



Also check out: FedEx, NCR, International Paper and other big losers as of Friday



raw materials

On commodities news, oil rose 0.7% to $85.66, while gold fell 0.3% to $1,679.30.


Silver was down 0.1% on Monday at $19.365, while copper was down 0.2% at $3.5095.



euro zone


European equities were mixed today. The euro zone’s STOXX 600 fell 0.09%, while Spain’s IBEX 35 index rose 0.11%. Germany’s DAX rose 0.49%, France’s CAC 40 fell 0.26% and Italy’s FTSE MIB index rose 0.13%.


Euro-zone construction activity rose 1.5% yoy in July, compared with a revised increase of 1.3% a month ago.

Business


The September Housing Market Index is scheduled to be released at 10:00 am ET. The Housing Market Index is expected to decline slightly from 49 in August to 48 in September.



Watch this: Ethereum slips below $1,300; Here are the Top Crypto Movers for Monday



COVID-19 update

The US has the highest number of coronavirus cases and deaths in the world, reporting a total of 97,509,430 cases with around 1,078,660 deaths. India confirmed a total of at least 44,539,040 cases and 528,350 deaths, while France reported over 34,916,380 COVID-19 cases with 154,670 deaths. In total, there have been at least 617,351,300 cases of COVID-19 worldwide, with more than 6,531,040 deaths.



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