Palvella Therapeutics Added to Russell 3000, 2000 Indices

Marex Group said Monday that it will be a member of the broad-market Russell 3000 Index and included in the small-cap Russell 2000 Index, effective after US market opens the same day, as part of the 2025 Russell indexes reconstitution.

Tonix Pharmaceuticals said Monday it will be added to the broad-market Russell 3000 index effective from Monday's opening bell.

The biotechnology company also said it will also be added automatically to the small-cap Russell 2000 Index.

Stocks in the United Arab Emirates closed higher on the first day of the trading week on the back of a major deal involving big local companies.

Coming back from a long weekend due to the Islamic New Year holiday and on Monday's close, the FTSE ADX General Index rose 0.721%, while the DFM General Index was 0.38% in the green.

Multiply Group (ADX:MULTIPLY) reached a 3.8 billion-Emirati-dirham deal to sell its district cooling business to a consortium of National Central Cooling Co. (DFM:TABREED), d/b/a Tabreed, and CVC DIF.

"The monetization of PAL Cooling Holding is a deliberate step in our portfolio optimization strategy, aimed at delivering superior returns to our shareholders. It reflects our ability to realize significant value from our assets while enhancing liquidity to fuel Multiply Group's next phase of growth-both across our core verticals and on the global stage," Multiply Group's Chief Executive Officer Samia Bouazza said.

The Abu Dhabi-based investor ended the session 2.55% in green, while Tabreed closed 1.79% higher on the Dubai bourse.

On the economic front, the S&P Global United Arab Emirates PMI report for June will be released Thursday. The survey, a closely watched indicator of the country's non-oil private sector, dropped to its lowest level in nearly four years in May.

Elsewhere, the Gulf Cooperation Council and Japan started second-round talks for a free trade agreement for improved economic cooperation. The negotiations in Tokyo are scheduled to run Monday to Friday.

US stocks were set to open firmly higher on Monday, extending the sharp gains from the previous week as de-escalation of geopolitical conflict and a softer stance on tariffs by the US government allowed markets to focus on signs of multiple rate cuts by the Fed this year.

Contracts attached to the S&P 500 and the Nasdaq 100 were 0.6% higher, record highs, while the Dow was set to gain 300 points.

White House officials announced that the US and China had formally reached an agreement to prevent the return of tariff exchanges that topped levies at 145%.

Additionally, President Trump noted that he is open to extending the July 9th deadline for reintroducing reciprocal tariffs.

Lastly, Canada withdrew its digital services tax to support the outlook for US tech companies and restart trade talks with Washington.

Meta and Alphabet were set to open more than 2% higher.

Also, Juniper Networks surged 9% after the DoJ settled its lawsuit against the company concerning its acquisition by HP.

European bourses tracked sideways midday Monday as traders weighed media reports that the EU and the US may conclude a trade deal by July 9.

Property and retail stocks led gainers, while bank shares lagged.

Investors also eyed Wall Street futures flashing green, and choppy closes overnight on Asian exchanges.

The pan-continental Stoxx Europe 600 Index was steady mid-session.

The Stoxx Europe 600 Technology Index was up 0.4%, while the Stoxx 600 Banks Index was down 0.8%.

The Stoxx Europe 600 Oil and Gas Index was off 0.2%, while the Stoxx 600 Europe Food and Beverage Index was 0.2% higher.

The REITE, a European REIT index, was up 0.8%, while the Stoxx Europe 600 Retail Index was 0.5% higher.

On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London lost 0.1%. The CAC 40 in Paris was flat, and Spain's IBEX 35 eased 0.2%.

Yields on benchmark 10-year German bonds were stable, near 2.57%.

Front-month North Sea Brent crude-oil futures were down 0.3% at $66.61 a barrel.

The Euro Stoxx 50 volatility index was up 2.3% at 17.81, but still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

The benchmark US stock measures were pointing higher before the opening bell Monday as investors monitor developments on President Donald Trump's key tax bill and await fresh labor market data later in the holiday-shortened week.

The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.6% in premarket activity. The indexes closed last week in the green, with the Nasdaq finishing up for the fifth consecutive trading session. US markets will be closed on Friday for Independence Day.

Traders are focusing on whether the US Senate will approve Trump's $4.5 trillion tax bill in the coming hours, according to several media publications. The bill, which could add more than $3.9 trillion to the national debt, narrowly passed a key procedural vote on Saturday to proceed it to a final debate, CNBC reported.

US Treasury yields were down in premarket action, with the two-year rate retreating 1.3 basis points to 3.73% and the 10-year rate declining 3.2 basis points to 4.25%.

Meanwhile, Trump reportedly told Fox News that he doesn't think he'll need to extend the July 9 tariff deadline for countries to make trade deals with the US. Trump told reporters at the White House on Friday that his administration could extend the deadline or make it shorter, which was his preference.

Canada on Sunday cancelled its proposed digital services tax on technology firms to advance trade negotiations with the US. The move comes after Trump said the US was scrapping trade discussions with Canada due to the digital services tax. The two countries agreed to resume negotiations with an aim to finalize a deal by July 21, according to a statement by Canada's finance ministry.

Fresh labor market data is on deck this week, beginning with the Job Openings and Labor Turnover Survey for May on Tuesday. The ADP Employment report for June is out on Wednesday, while the government's nonfarm payroll data for the same month is due Thursday.

Last week, government data showed consumer spending in the world's largest economy unexpectedly declined in May, as outlays on goods turned negative, while the Federal Reserve's preferred inflation metric accelerated annually and sequentially.

Monday's economic calendar has the Chicago Purchasing Managers' Index and the Dallas Fed manufacturing survey, both for the current ending month. Atlanta Fed President Raphael Bostic is scheduled to speak at 10 am ET, while Chicago Fed President Austan Goolsbee speaks at 1 pm.

Palantir Technologies' shares rebounded 4.9% pre-bell after dropping 11% at the close of Friday. Alphabet was up 1.3% while Snap inclined 3.3%.

West Texas Intermediate crude oil dipped 0.2% to $65.42 a barrel before the open. Gold increased 0.3% to $3,298 per troy ounce, while bitcoin edged up 0.1% to $107,632.