Nasdaq Surges 2%; Goldman Sachs Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 2% on Monday.

The Dow traded up 0.99% to 40,610.00 while the NASDAQ gained 2.02% to 17,062.41. The S&P 500 also rose, gaining, 1.48% to 5,442.94.

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Leading and Lagging Sectors

Information technology shares surged by 2.2% on Monday.

In trading on Monday, consumer staples shares rose by just 0.5%.

Top Headline

The Goldman Sachs Group, Inc. (NYSE:GS) posted better-than-expected earnings for its first quarter.

Goldman Sachs reported quarterly earnings of $14.12 per share which beat the analyst consensus estimate of $12.35 per share. The company reported quarterly sales of $15.06 billion which beat the analyst consensus estimate of $14.81 billion.

Equities Trading UP
                       

• Longevity Health Holdings, Inc. (NASDAQ:XAGE) shares shot up 92% to $0.2611 after the company announced its merger agreement with 20/20 Biolabs. The closing equity value of the combined companies is $99 million.
• Shares of Sharps Technology, Inc. (NASDAQ:STSS)got a boost, surging 62% to $0.0404.
• Theratechnologies Inc. (NASDAQ:THTX) shares were also up, gaining 45% to $2.8250 after receiving an acquisition proposal from Future Pak. Soleus Capital has issued a letter to shareholders stating that the deal is in their best interest.

Equities Trading DOWN

• Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) shares dropped 36% to $0.6007. Ironwood said feedback from the FDA indicates that confirmatory Phase 3 trial is needed to seek approval of Apraglutide for patients with SBS with intestinal failure.
• Shares of Mixed Martial Arts Group Limited (NYSE:MMA) were down 28% to $1.0996. Mixed Martial Arts Group shares jumped 92% on Friday after the company announced it had entered into a non-dilutive and unsecured $2 million revolving loan agreement.
• UTime Limited (NASDAQ:WTO) was down, falling 26% to $1.5874 after jumping 62% on Friday.

Commodities

In commodity news, oil traded up 0.7% to $61.95 while gold traded down 0.9% at $3,214.10.

Silver traded down 0.4% to $31.770 on Monday, while copper rose 1.4% to $4.5840.

Euro zone

European shares were higher today. The eurozone's STOXX 600 jumped 2.5%, Germany's DAX 40 gained 2.7% and France's CAC 40 climbed 2.5%. Spain's IBEX 35 Index surged 2.1%, while London's FTSE 100 rose 1.9%.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 1.18%, China's Shanghai Composite gaining 0.76% and Hong Kong's Gang Seng index rising 2.40%.

Economics

Data on consumer inflation expectations will be released today.

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