S&P 500 Surges 1%; New York Manufacturing Activity Tumbles In June – Robin Energy (NASDAQ:RBNE), LZ Technology Hldgs (NASDAQ:LZMH)

U.S. stocks traded higher midway through trading, with the S&P 500 gaining around 1% on Monday.

The Dow traded up 0.80% to 42,536.72 while the NASDAQ climbed 1.51% to 19,699.21. The S&P 500 also rose, gaining, 0.97% to 6,034.20.

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Leading and Lagging Sectors

Financial shares jumped by 1.7% on Monday.

In trading on Monday, energy stocks fell by 0.6%.

Top Headline

The New York Empire State Manufacturing Index dipped to a reading of -16 in June compared to May’s reading of -9.2, and also down from market estimates of -5.5.

Equities Trading UP           

• Sage Therapeutics, Inc. SAGE shares shot up 35% to $9.02 after Supernus Pharmaceuticals agreed to acquire the company.
• Shares of SRM Entertainment, Inc. SRM got a boost, surging 293% to $5.68 after the company entered a securities purchase agreement with a private investor for a $100 million equity investment, which it will use to initiate a TRON token treasury strategy.
• EchoStar Corporation SATS shares were also up, gaining 47% to $24.78 after President Trump reportedly urged Ergen and Carr to cut a deal on the company’s spectrum.

Equities Trading DOWN

• Robin Energy Ltd. RBNE shares dropped 56% to $6.17. Robin Energy announced pricing of $5.1 million registered direct offering priced at-the-market under Nasdaq rules.
• Shares of Sarepta Therapeutics, Inc. SRPT were down 47% to $19.15 after the company suspended ELEVIDYS shipments and paused the ENVISION trial following a second fatal liver failure in non-ambulatory Duchenne patients.
• LZ Technology Holdings Limited LZMH was down, falling 24% to $12.30.

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Commodities

In commodity news, oil traded down 4% to $70.06 while gold traded down 1.2% at $3,413.10.

Silver traded up 0.1% to $36.38 on Monday, while copper rose 0.2% to $4.8245.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.50%, while Spain’s IBEX 35 Index rose 1.41%. London’s FTSE 100 gained 0.43%, Germany’s DAX 40 rose 0.71% and France’s CAC 40 climbed 0.92% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan’s Nikkei gaining 1.26%, Hong Kong’s Hang Seng Index rising 0.70%, China’s Shanghai Composite rising 0.35% and India’s BSE Sensex climbing 0.84%.

Economics

The New York Empire State Manufacturing Index dipped to a reading of -16 in June compared to May’s reading of -9.2, and also down from market estimates of -5.5.

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