Home Money & Business Business Today’s stock market: Honda and Nissan merger discussions stir activity in a typically calm morning on Wall Street.

Today’s stock market: Honda and Nissan merger discussions stir activity in a typically calm morning on Wall Street.

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Today’s stock market: Honda and Nissan merger discussions stir activity in a typically calm morning on Wall Street.

Wall Street opened with a slight decline on Monday as the market began a holiday-shortened week, facing a lack of significant news to drive trading activity.

Futures for the S&P 500 dipped by under 0.1% prior to the market opening, whereas the Dow Jones Industrial Average futures experienced a modest increase of 0.2%.

Japanese automotive giants Honda Motor Co. and Nissan Motor Corp. announced their intention to explore a potential merger, which could also involve Nissan’s smaller partner, Mitsubishi Motors Corp. Following the announcement, Honda’s shares, which had fallen following last week’s initial reports of merger discussions, surged by 16%. In contrast, Nissan’s shares dropped slightly by less than 1%.

Eli Lilly’s stock climbed nearly 2% after receiving approval from the Food and Drug Administration for its Zepbound medication, recognized as the first and only prescription option for adults suffering from sleep apnea. Zepbound previously held approval for the treatment of obesity and was already available in the marketplace.

In a significant development, The Container Store sought bankruptcy protection as the retailer, founded in 1978, struggles with increasing losses and cash flow issues. The filing, which occurred in Texas, comes on the heels of the company’s shares being delisted from the New York Stock Exchange two weeks prior.

Later on Monday, the latest consumer confidence survey from the Conference Board is anticipated, along with data on new home sales being released on Tuesday, and a report on weekly jobless claims scheduled for Thursday.

Across Europe, major indices showed a downward trend at midday; Germany’s DAX decreased by 0.3%, the CAC 40 in Paris also fell by 0.3%, with Britain’s FTSE shedding 0.2%.

In Asia, trading saw the Nikkei 225 index in Tokyo rise by 1.2% to reach 39,161.34, while the dollar exchanged hands at 156.50 Japanese yen, up from the previous rate of 156.48 yen.

Hong Kong’s Hang Seng index increased by 0.8% to 19,883.13, whereas the Shanghai Composite index fell by 0.5% to settle at 3,351.26.

Australia’s S&P/ASX 500 climbed by 1.7% to hit 8,201.60.

Meanwhile, South Korea’s Kospi index added 1.6%, reaching 2,442.01, and Taiwan’s Taiex saw a notable increase of 2.6%, buoyed by a 4.4% gain from TSMC, the leading chip manufacturer globally. Hon Hai Precision Industry, reportedly seeking a significant stake in Nissan, saw its shares rise by 3.8%.

In Bangkok, the SET index experienced a 1.4% increase.

In commodity markets, U.S. benchmark crude oil prices rose by 24 cents to $69.70 per barrel, while Brent crude, recognized as the international standard, also climbed by 24 cents to $73.18.

The euro saw a decline against the dollar, falling to $1.0415 from the previous level of $1.0433.