In the latest developments of the stock market, US stock futures are showing mixed movements during Monday's premarket session. This follows the S&P 500's notable achievement of its largest weekly gain in the current year. Investors are now focusing their attention on the upcoming speech by Federal Reserve Chairman Jerome Powell, slated for Friday at an economic symposium in Jackson Hole, Wyoming. Currently, futures for the Dow Jones Industrial Average are slightly down by 0.02%, while S&P 500 futures have seen an increase of 0.08%, and Nasdaq futures are up by 0.09%.
On the commodities side, global oil prices are on a downward trajectory. Specifically, the price for Brent crude and West Texas Intermediate crude have decreased by 0.74% and 0.71%, respectively. This decline in oil prices is notable, especially when considering the broader impact on market sentiment and investor strategies. In the equity markets, Applied DNA Sciences ($APDN) has highlighted the session with a staggering surge of 102% in its premarket activity, building on an impressive 78% increase from Friday.
This remarkable spike indicates strong market interest and possibly the influence of recent announcements or developments. Tonix Pharmaceuticals ($TNXP) also delivered positive news as its shares surged by 38%. The company reported a narrower net loss per share for the second quarter, alongside increased revenue when compared year-over-year.
This is a clear indicator of operational improvements and a favorable outlook moving forward. Similarly, shares of SciSparc ($SPRC) saw a rise of 19% after the company announced that it has entered into a patent license agreement with Polyrizon, enabling the out-licensing of its SCI-160 program designed for pain treatment.
The development is a strategic move that showcases SciSparc's commitment to expanding its market offerings. On a more negative note, the stock of Liquidia ($LQDA.US) plummeted by 38%. This sharp decline followed the news that the US Food and Drug Administration (FDA) had granted tentative approval for Yutrepia, a treatment for pulmonary arterial hypertension and pulmonary hypertension; however, the final approval is contingent upon the expiration of exclusivity for United Therapeutics' Tyvaso DPI.
Such news has understandably raised concerns among investors about Liquidia's market positioning. Meanwhile, shares of Lytus Technologies ($LYT) experienced a slight dip of 0.3%, further adding to the 0.9% loss recorded on Friday. Additionally, B. Riley Financial ($RILY) saw a significant drop of 9% as Chairman and co-Chief Executive Bryant Riley put forth an unsolicited proposal aimed at taking the company private for $7 per share.
This strategic move sparked discussions in the financial community regarding its implications and the potential impacts on shareholders. Overall, the stock market is currently navigating a complex landscape with significant gains in some areas, while others are experiencing setbacks. As investors await further insights from Chairman Powell's forthcoming speech, market fluctuations are anticipated, reflecting the overall sentiment and economic conditions at play..