Following the market opening Monday, the Dow traded up 0.68 percent to 24,476.96 while the NASDAQ climbed 0.52 percent to 7,157.11. The S&P also rose, gaining 0.39 percent to 2,680.31.
Leading and Lagging Sectors
Monday morning, the information technology shares gained 0.71 percent. Meanwhile, top gainers in the sector included First Data Corporation FDC 15.4%, up 15 percent, and Fitbit, Inc. FIT 6.42% up 8 percent.
In trading on Monday, real estate shares tumbled 0.26 percent.
T-Mobile Us Inc TMUS 4.65% and Sprint Corp S 13% agreed to combine in a $26 billion all-stock deal in which T-Mobile will pay Sprint investors 0.10256 shares of T-Mobile for each one share of Sprint stock owned.
The companies believe a combination into one entity could generate $6 billion in annual synergies, or $43 billion based on net present value.
Equities Trading UP
Shares of Pluristem Therapeutics Inc. PSTI 11.46% got a boost, shooting up 16 percent to $1.4444. The developer of placenta-based cell therapy products said the FDA cleared its Investigational New Drug (IND) application for its PLX-R18 cell therapy in the treatment of acute radiation syndrome (ARS).
Equities Trading DOWN
Arconic Inc. ARNC 12.7% shares dropped 14 percent to $19.29. Arconic posted upbeat Q1 results, but issued weak earnings outlook for FY18.
Shares of Cooper Tire & Rubber Company CTB 14.06% were down 15 percent to $22.925 after the company reported weaker-than-expected Q1 earnings.
In commodity news, oil traded down 0.88 percent to $67.50 while gold traded down 0.70 percent to $1,314.20.
Silver traded down 1.22 percent Monday to $16.295, while copper fell 0.24 percent to $3.062.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.08 percent, the Spanish Ibex Index rose 0.38 percent, while Italy’s FTSE MIB Index fell 0.25 percent. Meanwhile the German DAX rose 0.03 percent, and the French CAC 40 climbed 0.30 percent while U.K. shares rose 0.35 percent.
The core PCE index rose to 1.9 percent in March, versus 1.6 percent in the previous month.
The Chicago PMI rose to 57.60 in April, versus prior reading of 57.40. Economists projected a reading of 58.20.
The pending-home sales index rose 0.4 percent to a reading of 107.6 in March.
The Dallas Fed manufacturing index for April is schedule for release at 10:30 a.m. ET.
The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.