Investors kept an eye on midday trading, as various companies' stocks moved in different directions. Biogen saw its shares dip 2.8% after announcing board of director changes and the election of former head of corporate strategy Susan Langer to the board on Monday. Goldman Sachs upgraded Devon Energy to 'buy' from 'neutral', noting its attractive valuation and improvement in production and capital expenditure outlook. Meanwhile, Oracle's stock rose 0.2% to a record-high after the release of a positive earnings report and Morgan Stanley upgraded Urban Outfitters to 'overweight'. Furthermore, Norwegian Cruise Line stocks surged 5.7% on the back of a Bank of America price target increase and oil stocks also rose with the VanEck Oil Services ETF increasing 2.2%. Zions Bancorporation, however, fell 1.5% after predicting a downward trend in net interest income. Lastly, the PBoC's decision to cut a key short-term policy rate had a positive effect on Chinese internet stocks, metals and mining stocks. The KraneShares CSI China Internet ETF gained 2.4% and JD.com increased 3.5%, while Freeport-McMoRan and Steel Dynamics rocketed 5.3% and 6%, respectively. CNBC's Samantha Subin, Sarah Min, Alexander Harring and Jesse Pound provided additional reporting.
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