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Mid-Day Market Update: Crude Oil Down Over 2%; Travere Therapeutics Shares Jump


Benzinga | Aug 16, 2021 12:13PM EDT

Mid-Day Market Update: Crude Oil Down Over 2%; Travere Therapeutics Shares Jump

Midway through trading Monday, the Dow traded down 0.36% to 35,388.46 while the NASDAQ fell 1.24% to 14,639.36. The S&P also fell, dropping 0.54% to 4,443.76.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 36,680,110 cases with around 621,630 deaths. India confirmed a total of at least 32,225,510 cases and 431,640 deaths, while Brazil reported over 20,364,090 COVID-19 cases with 569,050 deaths. In total, there were at least 207,273,290 cases of COVID-19 worldwide with more than 4,364,400 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Utilities shares rose 1% on Monday. Meanwhile, top gainers in the sector included Genie Energy Ltd. (NYSE:GNE), up 3% and Sunnova Energy International Inc. (NYSE:NOVA) up 2%.

In trading on Monday, energy fell 1.9%.

Top Headline

The New York Empire State Manufacturing Index dropped to 18.3 in August from a record high level of 43 in the previous month. Analysts, meanwhile, were expecting a reading of 29.

Equities Trading UP

NanoVibronix, Inc. (NASDAQ:NAOV) shares shot up 45% to $3.66 after the company announced that it intends to enter the Over-the-Counter (OTC) pain relief market with the introduction of PainShield RELIEF.

Shares of Enlivex Therapeutics Ltd. (NASDAQ:ENLV) got a boost, shooting 15% to $11.64 after the Israeli Ministry of Health authorized a Phase IIb trial for Enlivex's Allocetra in COVID-19 patients.

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares were also up, gaining 20% to $18.59 after the company announced its PROTECT study met its interim primary efficacy endpoint.

Check out these big movers of the day

Equities Trading DOWN

Sesen Bio, Inc. (NASDAQ:SESN) shares tumbled 34% to $1.3850 after the FDA issued a Complete Response Letter to the company's bladder cancer candidate Vicineum. HC Wainwright & Co. downgraded the stock from Buy to Neutral.

Shares of China Finance Online Co. Limited (NASDAQ:JRJC) were down 36% to $5.14 after the company received a delisting notice from Nasdaq.

ESSA Pharma Inc. (NASDAQ:EPIX) was down, falling 32% to $8.12 after the company reported a loss for its third quarter.



Commodities

In commodity news, oil traded down 2.3% to $66.89, while gold traded up 0.7% to $1,790.50.

Silver traded down 0.1% Monday to $23.775 while copper fell 1.8% to $4.3125.

Euro zone

European shares were lower today. The eurozone's STOXX 600 declined 0.71%, the Spanish Ibex Index fell 0.9% and the German DAX 30 declined 0.67%. Meanwhile, the London's FTSE 100 dropped 1.11%, French CAC 40 fell 1.01% and Italy's FTSE MIB slipped 0.87%.

Economics

The New York Empire State Manufacturing Index dropped to 18.3 in August from a record high level of 43 in the previous month. Analysts, meanwhile, were expecting a reading of 29.

The Treasury International Capital report for June will be released at 4:00 p.m. ET.

Check out the full economic calendar here







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