Dow Rises 100 Points as U.S. Stocks Gain Ground
The Dow Jones Industrial Average gained around 100 points on Monday, marking a solid start to the week for U.S. stocks. The index rose 0.20% to 51,277.22, while the NASDAQ and S&P 500 also climbed, up 0.84% and 0.62% respectively. Leading the gains were materials shares, which jumped 1.2%, while real estate stocks fell slightly by 0.1%.
Notable movers included Columbus Acquisition Corp (NASDAQ:SAIQ), which surged 286% to $7.14 following the completion of its reverse SPAC merger with WISeSat.Space. Vaxcyte, Inc. (NASDAQ:PCVX) shares jumped 40% to $79.00 after positive Phase 3 trial results for its pneumococcal vaccine. HeartBeam, Inc. (NASDAQ:BEAT) gained 70% to $0.7370 after receiving FDA breakthrough device designation for its heart attack assessment technology.
On the downside, Camping World Holdings Inc (NYSE:CWH) shares dipped 10% to $4.52 due to lower-than-expected adjusted EBITDA guidance. CH Robinson Worldwide Inc (NASDAQ:CHRW) fell 11% to $140.19 after announcing an acquisition, while Flux Power Holdings, Inc. (NASDAQ:FLUX) dropped 23% to $0.4899 after rejecting an acquisition proposal.
Commodities saw mixed movements, with oil trading down 1% to $90.17, while gold, silver, and copper all rose. In Europe, the STOXX 600 gained 0.2%, though France’s CAC 40 fell 1.1%. Asian markets closed higher, with Japan’s Nikkei 225 surging 2.40%. Economic data showed the ISM services PMI declined to 54.9 in September, missing market estimates of 55.