Crude Oil Rises Sharply; Manhattan Associates Shares Slide

U.S. stocks traded higher toward the end of trading, with the Dow Jones index jumping more than 150 points on Monday.

The Dow traded up 0.40% to 44,482.54 while the NASDAQ gained 1.16% to 19,750.22. The S&P 500 also rose, gaining, 0.75% to 6,071.29.

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Leading and Lagging Sectors

Energy shares surged by 2% on Monday.

In trading on Monday, financial shares fell by 0.6%.

Top Headline

U.S. consumer inflation expectations for the year ahead came in steady for a third straight month at 3% in January.

Equities Trading UP
                       

• SpringWorks Therapeutics, Inc. SWTX shares shot up 36% to $54.85 after announcing Merck KGaA is in advanced discussions to acquire the company.
• Shares of Biodexa Pharmaceuticals Plc BDRXgot a boost, surging 42% to $5.78 after the company announced it received FDA fast-track designation for eRapa.
• monday.com Ltd. MNDY shares were also up, gaining 28% to $331.46 after the company reported better-than-expected fourth-quarter financial results and first-quarter revenue outlook.

Equities Trading DOWN

• Pliant Therapeutics, Inc. PLRX shares dropped 59% to $3.1893. On Friday, Pliant Therapeutics announced it has voluntarily paused enrollment and dosing in the ongoing BEACON-IPF Phase 2b trial of bexotegrast in patients with idiopathic pulmonary fibrosis (IPF), a chronic lung disease that causes scarring and stiffening of the lung tissue.
• Shares of Manhattan Associates, Inc. MANH were down 11% to $179.24. The company announced its president and CEO Eddie Capel will retire.
• Semtech Corporation SMTC was down, falling 31% to $37.60 after Needham cut its price target on the stock from $74 to $54.

Commodities

In commodity news, oil traded up 1.7% to $72.22 while gold traded up 1.7% at $2,935.20.

Silver traded up 0.2% to $32.515 on Monday, while copper rose 2.6% to $4.7060.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.58%, Germany’s DAX 40 rose 0.57% and France’s CAC 40 rose 0.52%. Spain’s IBEX 35 Index rose 0.16%, while London’s FTSE 100 rose 0.77%.

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan’s Nikkei 225 gaining 0.04%, China’s Shanghai Composite Index climbing 0.56%, Hong Kong’s Hang Seng Index gaining 1.84% and India’s BSE Sensex falling 0.70%.

Economics

U.S. consumer inflation expectations for the year ahead came in steady for a third straight month at 3% in January.

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