U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 250 points on Monday.

Following the market opening Monday, the Dow traded up 0.85% to 32,695.89 while the NASDAQ rose 1.20% to 12,794.11. The S&P 500 also rose, gaining, 0.95% to 4,156.53.

Leading and Lagging Sectors

Communication services shares jumped by 1.9% on Monday.

In trading on Monday, health care shares rose by just 0.4%.

Top Headline

McDonald's Corporation(MCD.US) reported better-than-expected earnings for its third quarter.

McDonald's reported third-quarter FY23 sales growth of 14% year-on-year to $6.692 billion, beating the analyst consensus estimate of $6.577 billion. Adjusted EPS of $3.19 beat the consensus estimate of $3.00.

McDonald's sees FY23 operating margin of 46%; Capital expenditure of $2.2 billion - $2.4 billion.

Equities Trading UP

Miromatrix Medical Inc.(MIRO.US) shares shot up 231% to $3.34 after United Therapeutics agreed to acquire the company for $3.25 per share in cash.

Shares of VYNE THERAPEUTICS INC(VYNE.US) got a boost, shooting 52% to $3.40 after the company announced a private placement of $88 million and data from its Phase 1b trial evaluating once-daily dosing of VYN201 in patients with nonsegmental vitiligo.

Eargo, Inc.(EAR.US) shares were also up, gaining 54% to $2.59 after the company announced it will be taken private by Patient Square Capital.

Equities Trading DOWN

CommScope Holding Co., Inc.(COMM.US) shares dropped 30% to $1.7050 after the company reported preliminary third-quarter financial results.

Shares of Alzamend Neuro Inc Ordinary Shares(ALZN.US) were down 25% to $0.1309 after the company announced a reverse stock split.

Tenax Therapeutics, Inc.(TENX.US) was down, falling 21% to $0.1990.

Commodities

In commodity news, oil traded down 1.2% to $84.49 while gold traded up 0.3% at $2,004.90.

Silver traded up 1.8% to $23.30 on Monday while copper rose 1.6% to $3.7045.

Economics

The Dallas Fed manufacturing index will be released at 10:30 a.m. ET.