Midway through trading Monday, the Dow traded up 1.52 percent to 23,890.72 while the NASDAQ climbed 1.39 percent to 7,089.98. The S&P also rose, gaining 1.29 percent to 2,621.70.
Leading and Lagging Sectors;
On Monday, the information technology shares gained 1.81 percent. Meanwhile, top gainers in the sector included Travelport Worldwide Limited TVPT 10.8%, up 10 percent, and SMART Global Holdings, Inc. SGH 9.77%, up 9 percent.
In trading on Monday, utilities shares rose by just 0.6 percent.
Finish Line Inc FINL 30.34% agreed to sell itself to Europe-based JD Sports Fashion in a deal which values the company at $558 million.
JD Sports will pay $13.50 per share in cash for Finish Line, representing a 28 percent premium over Finish Line’s closing price on Friday.
Finish Line expects Q4 adjusted earnings of $0.58 to $0.59 per share.
Equities Trading UP;
Finish Line, Inc. FINL 30.34% shares shot up 29 percent to $13.65 as the company agreed to sell itself to Europe-based JD Sports Fashion in a deal which values the company at $558 million.
Shares of USG Corporation USG 19.1% got a boost, shooting up 17 percent to $39.1802 after the building-materials manufacturer received a takeover offer from Germany’s Knauf KG for $42 per share.
Verona Pharma plc VRNA 46.47% shares were also up, gaining 44 percent to $23.39 after the company disclosed positive top-line data from Phase 2b clinical trial of RPL554 for the maintenance treatment of chronic obstructive pulmonary disease.
Equities Trading DOWN;
Protagonist Therapeutics, Inc. PTGX 57.66% shares dropped 54 percent to $9.33 as the company disclosed that it has discontinued Phase 2b PROPEL trial of PTG-100 for the treatment of ulcerative colitis following interim analysis.
Shares of Biohaven Pharmaceutical Holding Company Ltd. BHVN 22.42% were down 32 percent to $16.90. Biohaven disclosed that it has achieved both co-primary regulatory endpoints in its two pivotal Phase 3 trials of rimegepant for the acute treatment of migraine.
Bonso Electronics International Inc. BNSO 30.77% was down, falling around 23 percent to $3.02 following half year results. Bonso late Friday reported earnings of $0.14 per share for the six-month period ended September 30, 2017, down from $0.21 in the year-ago period.
In commodity news, oil traded down 0.55 percent to $65.52 while gold traded up 0.43 percent to $1,361.50.
Silver traded up 1.19 percent Monday to $16.78, while copper fell 0.18 percent to $2.9875.
European shares were lower today. The eurozone’s STOXX 600 declined 0.41 percent, the Spanish Ibex Index fell 0.04 percent, while Italy’s FTSE MIB Index slipped 0.96 percent. Meanwhile the German DAX fell 0.52 percent, and the French CAC 40 fell 0.38 percent while U.K. shares fell 0.43 percent.
The Chicago Fed National Activity Index increased to 0.88 in February, versus 0.02 in January.
The Dallas Fed manufacturing index fell to 21.4 for March, versus 37.2 in February.
Cleveland Federal Reserve Bank President Loretta Mester will speak in Princeton, NJ at 4:30 p.m. ET.
The Treasury will auction 2-year notes at 1:00 p.m. ET.