Oil Rises; US Homebuilder Sentiment Slips in October

US stocks traded higher late Monday, with the Nasdaq Composite rising more than 300 points.

The Dow Jones Industrial Average rose 0.06% to 52,031.59 points, while the Nasdaq gained 1.24% to 26,465.39 points. The S&P 500 also advanced 0.56% to 7,702.61 points.

Advancing and Declining Sectors

Consumer discretionary stocks rose 2.7% on Monday.

Utility stocks fell 1.9% during Monday's trading session.

Top News

The National Association of Home Builders/Wells Fargo Housing Market Index fell for a second consecutive month in October to 29, the lowest reading since June 2012, down from 32 in the prior month and missing market expectations of 32.

Advancing Stocks

Silence Therapeutics PLC – ADR shares surged 126% to $19.58 after the company agreed to be acquired by Merck KGaA of Darmstadt, Germany.

J-Star Holding Co Ltd shares rose 60% to $2.10 after the company provided an update on its planned US drone airframe production plans, including ongoing negotiations to acquire a commercial manufacturing facility in the Greater Houston, Texas area.

Disc Medicine Inc shares also gained 34% to $76.32 after the company reported top-line results from the APOLLO Phase 3 trial of bitopertin in erythropoietic protoporphyria, which met all primary and secondary endpoints.

Declining Stocks

INLIF Ltd shares plunged 87% to $0.32 after the company announced the pricing of a $3.75 million registered direct offering.

EyePoint Inc shares fell 82% to $0.54 after the company reported top-line results from the LUCIA trial that failed to meet its primary endpoint.

Glass House Brands Inc. shares dropped 39% to $1.94 after the company reported preliminary third-quarter revenue of $56.8 million.

Commodities

In commodities, crude oil rose 1.8% to $103.20 per barrel, while gold fell 0.2% to $4,172.70.

Silver rose 0.2% to $57.42 on Monday, and copper fell 0.5% to $6.5440.

Eurozone

European markets traded lower today. The eurozone STOXX 600 index fell 1%, Spain's IBEX 35 declined 1.7%, London's FTSE 100 dropped 1.1%, Germany's DAX fell 1.5%, and France's CAC 40 declined 1.5%.

Asia-Pacific Markets

Asia-Pacific markets closed mixed on Monday, with Japan's Nikkei 225 falling 0.62%, China's Shanghai Composite rising 0.39%, and India's BSE Sensex declining 1.17%.

Economic Data

The National Association of Home Builders/Wells Fargo Housing Market Index fell for a second consecutive month in October to 29, the lowest reading since June 2012, down from 32 in the prior month and missing market expectations of 32.