Stock Market Today: Live Updates

U.S. crude oil prices fell 1% on Monday as traders monitored the impact of Hurricane Beryl on refining, production and export infrastructure on the Gulf Coast.

Beryl made landfall near Matagorda, Texas, as a Category 1 hurricane with maximum sustained winds of 80 mph, according to the National Hurricane Center. Matagorda is about 150 miles northeast of Corpus Christi, a major U.S. crude oil export facility.

Shell said in a statement Friday that it had halted production and evacuated personnel from its Perdido platform, about 200 miles south of Galveston.

Spencer Kimball

Check out the companies that are garnering attention before the bell rings.

Morphic Holdings — Shares soared more than 75% on news that Eli Lilly is acquiring the biopharmaceutical company for $3.2 billion. The acquisition will give Lilly access to Morphic’s portfolio of drugs in development, including treatments for ulcerative colitis and Crohn’s disease. Lilly shares rose 0.2% on the news.

Paramount Global Inc. — Shares rose 2% after the media and entertainment company announced Sunday that it had entered into a merger agreement with Skydance Media.

SolarEdge — Shares rose 5% after Bank of America upgraded the energy company’s stock to neutral from underperform, citing it as an attractive investment for investors, but said it expects a “more tangible” recovery in profit margins and cash flow.

You can see the complete list here.

— Kim Hagyeong

French stocks rose on Monday as markets reacted to a surprise left-wing victory in France’s parliamentary elections.

The CAC 40 erased the previous day’s losses and was up 0.5% by 10 a.m. London time (5 a.m. Eastern time). The euro was flat against the dollar and bond markets were also trading relatively weak.

Francois Digard, head of French equity research at Kepler Chevreux, said a hung parliament was what the market was expecting.

“As expected, we got a hung parliament and the markets reflected that last week. People were expecting it to be more to the right and it ended up being more to the left,” he told CNBC on Monday.

Read the full story here.

Katrina Bishop

Months after federal prosecutors alleged that aircraft maker Boeing Co. violated a 2021 settlement that gave it immunity from prosecution, the company agreed to plead guilty to fraud charges.

Under the settlement announced late Sunday, Boeing will pay a $243.6 million fine, install an independent compliance monitor over three years and invest at least $455 million in compliance and safety programs. The settlement requires federal court approval before it can take effect.

In 2021, Boeing reached a $2.5 billion settlement with the Department of Justice over charges related to the fatal 737 MAX crashes. The agreement included an initial criminal penalty of $243.6 million, compensation to the airlines, and a $500 million fund for the victims’ families. Lawyers for the victims’ families said they plan to ask the federal judge overseeing the case to reject the settlement and send the matter to a public trial.

— Leslie Josephs and Christine Wang

European stocks rose in morning trading on Monday as markets reacted to expectations of a surprise victory for a left-wing coalition in France that would leave parliament in limbo.

France’s CAC 40 index was up 0.2% by 8:35 a.m. London time (3:35 a.m. Eastern time), erasing the previous day’s losses. The euro was flat against the dollar.