Dow Jumps Over 400 Points; Monday.com Shares Fall After Q3 Results

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 400 points on Monday.

Following the market opening Monday, the Dow traded up 0.98% to 44,417.88 while the NASDAQ rose 0.18% to 19,321.30. The S&P 500 also rose, gaining, 0.32% to 6,014.50.

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Leading and Lagging SectorsConsumer discretionary shares surged by 1.9% on Monday.

In trading on Monday, information technology shares fell by 0.4%.

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Shares of Monday.com Ltd (NASDAQ:MNDY) fell around 18% on Monday after the company reported results for its third quarter.

The company reported fiscal third-quarter 2024 revenue growth of 33% Y/Y to $251.0 million, beating the analyst consensus estimate of $246.1 million. The project management software company’s adjusted EPS of 85 cents beat the analyst consensus estimate of 63 cents.

Monday.com raised 2024 revenue guidance to $964 million–$966 million (prior $956 million–$961 million) against the consensus of $960.2 million and an adjusted operating margin of ...