President Donald Trump on Monday announced plans to distribute 150 million rapid COVID-19 tests made by Abbott Laboratories , in “the coming weeks.” Speaking at the White House, Trump said 100 million of the tests would go to states and territories to support efforts to allow schools to reopen, while 50 million would go to

Oil futures ended higher on Monday on the heels of last week’s loss, finding some support as a possible oil workers’ strike in Norway may lead to lower production, analysts said. Oil firms in Norway plan to close down 22% of the nation’s oil and gas output if workers go on strike on Wednesday, Reuters

Financial sector exchange-traded funds outperformed Monday as investors rotated their exposure to segments of the market that have been left behind in the big run-up in stock prices since the March bottom. The Financial Select Sector SPDR Fund was up 2.8% in the early afternoon, on track for its best daily performance since July and

Gold futures settled higher on Monday, with the dollar-denominated precious metal buoyed by weakness in the U.S. dollar after posting a loss last week. “With the first U.S. presidential debate scheduled tomorrow, Brexit negotiations over the week and the non-farm payroll due on Friday, the markets are likely to remain very cautious and large-scale positioning

Exchange-traded funds holding shares of Virgin Galactic Holdings Inc. took flight Monday as the stock price soared 20% after positive analyst coverage, on track for its best day since April 14. The Procure Space ETF , with 5.2% of its portfolio in the stock, was up 3.1% in the late morning, while the SPDR S&P

U.S. stocks opened sharply higher Monday on hopes for an additional coronavirus stimulus package and after strong Chinese economic data overnight. The Dow Jones Industrial Average gained 1.4%, 367 points, to open near 27,540, while the S&P 500 was up 1.4%, 47 points, near 3,345. The Nasdaq Composite started trading near 11,087, up 173 points

Shares of Hologic Inc. were up 3.6% in premarket trading on Monday after the company said it had received emergency use authorization from the Food and Drug Administration for a diagnostic test specifically aimed at people with asymptomatic COVID-19 infections. Hologic said it is the first company to offer a test screening asymptomatic individuals. This

Caesars Entertainment Inc. said Monday it has commenced an offering of 30 million shares in a syndicated deal, joining the many companies issuing record levels of debt and equity during the pandemic. Proceeds will be used for general corporate purposes, including potentially the previously announced possible cash offer for William Hill Plc. Caesars said earlier

Shares of Inovio Pharmaceuticals Inc. were halted and then fell 33.6% when they resumed premarket trading on Monday when the company said the Phase 2/3 clinical trial for its COVID-19 vaccine candidate was in a “partial clinical hold” while it answered additional questions from the Food and Drug Administration. The hold is not due to

Biotech Oncorus Inc. set terms for its initial public offering on Monday with plans to offer 5.8 million shares priced at $14 to $16 each. The company has applied to list on Nasdaq, under the ticker “ONKR.” Jefferies, Evercore ISI and Piper Sandler are underwriting the deal with proceeds earmarked for clinical trials, to expand