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Major Indexes Surge as Tech Leads Market Rally

MarketDash Editorial Team
13 days ago
U.S. stocks rallied midday Monday with the Nasdaq jumping over 500 points as communication services led sector gains. Meanwhile, several stocks saw dramatic swings including Enlivex soaring 48% on a digital assets strategy and Waldencast tumbling 12% after earnings.

U.S. markets pushed decisively higher Monday afternoon, with technology stocks driving a broad rally that lifted major indexes across the board.

The Dow Jones Industrial Average climbed 0.65% to 46,546.82, while the Nasdaq Composite surged 2.32% to 22,789.25. The S&P 500 split the difference, gaining 1.40% to reach 6,696.44.

Sector Performance: Communication Services Takes the Lead

Communication services stocks powered ahead with a 3.1% gain on Monday, leading all sectors. On the flip side, consumer staples stocks lagged behind, declining 1.1% as the sector's defensive positioning fell out of favor during the risk-on trading session.

Big Movers on the Upside

Enlivex Therapeutics Ltd. (ENLV) emerged as the day's standout performer, rocketing 48% to $1.3301. The biotech company announced a substantial $212 million private placement aimed at launching a prediction-market digital assets treasury strategy through Rain token accumulation.

Oscar Health, Inc. (OCSR) shares surged 21% to $16.38 after Politico reported the White House plans to propose a two-year extension of Obamacare subsidies, though with new eligibility restrictions. The news provided a significant boost to the health insurance company's valuation.

Inno Holdings Inc. (INHD) posted an eye-popping 169% gain to $1.9499 following the company's announcement of a strategic cooperation with Megabyte Solutions on Web3 technology applications for its B2B marketplace platform.

Notable Decliners

Waldencast plc (WALD) fell 12% to $2.7095 after releasing second-quarter results that disappointed investors.

Twin Hospitality Group Inc. (TWNP) shares tumbled 28% to $2.5700 after the company received a notice of acceleration for notes from UMB, creating uncertainty about its financial position.

ProMIS Neurosciences, Inc. (PMN) declined 19% to $0.3399 following the announcement of a 1-for-25 reverse stock split, a move typically viewed unfavorably by investors.

Commodities and Currencies

Commodity markets showed modest movements Monday. Oil edged up 0.1% to $58.13 per barrel, while gold gained 0.2% to reach $4,089.00 per ounce. Silver advanced 0.4% to $50.105, though copper bucked the trend by falling 0.8% to $4.9745.

Global Markets Update

European markets closed in positive territory. The eurozone's STOXX 600 rose 0.44%, while Spain's IBEX 35 Index gained 1.19%. London's FTSE 100 climbed 0.33%, Germany's DAX 40 advanced 0.88%, and France's CAC 40 added 0.30%.

Asian markets wrapped up Monday's session with mixed results. Hong Kong's Hang Seng Index jumped 1.97%, while China's Shanghai Composite inched up just 0.05%. India's BSE Sensex declined 0.39%.

Economic Data

On the economic front, the Dallas Fed's general business activity index for Texas manufacturing slipped to -10.4 in November, down from a reading of -5 in October. The deterioration suggests continued weakness in the manufacturing sector.

Back to News

Major Indexes Surge as Tech Leads Market Rally

MarketDash Editorial Team
13 days ago
U.S. stocks rallied midday Monday with the Nasdaq jumping over 500 points as communication services led sector gains. Meanwhile, several stocks saw dramatic swings including Enlivex soaring 48% on a digital assets strategy and Waldencast tumbling 12% after earnings.

U.S. markets pushed decisively higher Monday afternoon, with technology stocks driving a broad rally that lifted major indexes across the board.

The Dow Jones Industrial Average climbed 0.65% to 46,546.82, while the Nasdaq Composite surged 2.32% to 22,789.25. The S&P 500 split the difference, gaining 1.40% to reach 6,696.44.

Sector Performance: Communication Services Takes the Lead

Communication services stocks powered ahead with a 3.1% gain on Monday, leading all sectors. On the flip side, consumer staples stocks lagged behind, declining 1.1% as the sector's defensive positioning fell out of favor during the risk-on trading session.

Big Movers on the Upside

Enlivex Therapeutics Ltd. (ENLV) emerged as the day's standout performer, rocketing 48% to $1.3301. The biotech company announced a substantial $212 million private placement aimed at launching a prediction-market digital assets treasury strategy through Rain token accumulation.

Oscar Health, Inc. (OCSR) shares surged 21% to $16.38 after Politico reported the White House plans to propose a two-year extension of Obamacare subsidies, though with new eligibility restrictions. The news provided a significant boost to the health insurance company's valuation.

Inno Holdings Inc. (INHD) posted an eye-popping 169% gain to $1.9499 following the company's announcement of a strategic cooperation with Megabyte Solutions on Web3 technology applications for its B2B marketplace platform.

Notable Decliners

Waldencast plc (WALD) fell 12% to $2.7095 after releasing second-quarter results that disappointed investors.

Twin Hospitality Group Inc. (TWNP) shares tumbled 28% to $2.5700 after the company received a notice of acceleration for notes from UMB, creating uncertainty about its financial position.

ProMIS Neurosciences, Inc. (PMN) declined 19% to $0.3399 following the announcement of a 1-for-25 reverse stock split, a move typically viewed unfavorably by investors.

Commodities and Currencies

Commodity markets showed modest movements Monday. Oil edged up 0.1% to $58.13 per barrel, while gold gained 0.2% to reach $4,089.00 per ounce. Silver advanced 0.4% to $50.105, though copper bucked the trend by falling 0.8% to $4.9745.

Global Markets Update

European markets closed in positive territory. The eurozone's STOXX 600 rose 0.44%, while Spain's IBEX 35 Index gained 1.19%. London's FTSE 100 climbed 0.33%, Germany's DAX 40 advanced 0.88%, and France's CAC 40 added 0.30%.

Asian markets wrapped up Monday's session with mixed results. Hong Kong's Hang Seng Index jumped 1.97%, while China's Shanghai Composite inched up just 0.05%. India's BSE Sensex declined 0.39%.

Economic Data

On the economic front, the Dallas Fed's general business activity index for Texas manufacturing slipped to -10.4 in November, down from a reading of -5 in October. The deterioration suggests continued weakness in the manufacturing sector.