Wall Street saw a spike on Monday morning, with the Nasdaq reaching a record intraday high, helped by a jump in technology shares and as higher oil prices boosted energy stocks.
The S&P was less than one point away from its intraday record high, while the Dow also crawled closer to its record. The three indexes have rallied since the U.S. election as investors bet Donald Trump's policies would be market friendly.
Oil prices jumped 3.2 percent to a near three-week high of $48.30 per barrel amid hopes of the OPEC reaching an agreement to cut output. The dollar index's .DXY first drop in 11 days also helped. With market activity like this, you can only expect the spike to ripple over into stocks such as Reliq Health Technologies Inc. (OTCQB:RQHTF), RXi Pharmaceuticals Corp (RXII), and Eyegate Pharmaceuticals Inc (NASDAQ:EYEG).
Reliq Health Technologies Inc., a healthcare technology company, primarily engages in the development and operation of mobile device management software systems that allow the management to track assets using mobile devices. It also develops hardware and software platform that allows complex patients to receive care in the home. In the company's most recent press release they have announced that they have begun enrolling patients for the pilot of its remote patient monitoring and care collaboration solution with Sacred Heart Health System in Florida.
RXi Pharmaceuticals Corporation, a clinical-stage RNAi company, focuses on discovering and developing therapies primarily in the areas of dermatology and ophthalmology. The company develops therapies based on siRNA technology and immunotherapy agents. I the last 30 days this company had an increase in trading by 211.70%.
Eyegate Pharmaceuticals, Inc., a clinical-stage specialty pharmaceutical company, focuses on developing and commercializing therapeutics and drug delivery systems for treating eye diseases. The company is developing EGP-437 that has completed Phase III clinical trials in anterior uveitis for the treatment of various inflammatory conditions of the eye, including uveitis, a debilitating form of intraocular inflammation of the anterior portion of the uvea. Over the past 3 weeks, EYEG has seen a spike in trading price by 89.18%