Nasdaq Surges Over 1%; XPeng Shares Spike Higher

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.36% to 38,855.72 while the NASDAQ rose 1.43% to 16,200.95. The S&P 500 also rose, gaining, 1.02% to 5,169.49.

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Leading and Lagging Sectors

 

Communication services shares jumped by 3.1% on Monday.

In trading on Monday, utilities shares fell by 0.1%.

 

Top Headline

 

Shares of XPeng Inc. XPEV gained over 5% on Monday on reports the company plans to launch cheaper EV models.

 

Equities Trading UP

 

Solidion Technology Inc. STI shares shot up 80% to $3.13 after surging around 34% on Friday. The company, last week, announced the pricing of a $3.85 million private placement.

Shares of Wearable Devices Ltd. WLDS got a boost, surging 60% to $0.7143. Wearable Devices published a report by its XR team suggesting 'The Mudra Band Can Be The Neural Bridge For Apple And Meta In Their Next Wave Of Smart Glasses Interaction.'

WaveDancer, Inc. WAVD shares were also up, gaining 54% to $4.60. WaveDancer and Firefly Neuroscience each received the requisite stockholder approvals required to consummate the merger between both companies.

 

Equities Trading DOWN

 

Global Mofy Metaverse Limited GMM shares dropped 39% to $1.79.

Shares of Sonder Holdings Inc. SOND were down 32% to $3.75 after the company announced a delay to its fourth quarter and full year 2023 financial results announcement, and issued fourth quarter and full year 2023 preliminary highlights.

Worksport Ltd. WKSP was down, falling 19% to $0.5988 after the company announced pricing of $2.8 million registered direct offering & concurrent private placement.

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Commodities

 

In commodity news, oil traded up 0.8% to $81.66 while gold traded down 0.1% at $2,160.50.

Silver traded up 0.4% to $25.485 on Monday, while copper rose 0.8% to $4.1570.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 rose 0.1%, London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index rose 0.3% The German DAX rose 0.2% French CAC 40 rose 0.1% while Italy’s FTSE MIB Index gained 0.3%.

 

Asia Pacific Markets

 

Asian markets closed higher on Monday, with Japan’s Nikkei 225 jumping 2.67%, Hong Kong’s Hang Seng Index rising 0.10%, China’s Shanghai Composite Index gaining 0.99% and India’s S&P BSE Sensex gaining 0.2%.

China's retail sales rose by 5.5% year-over-year in January-February, while unemployment rate averaged 5.3% in the same period. Chinese industrial production surged by 7.0% year-over-year in January-February. Japanese core machinery orders declined 1.7% month-over-month to 823.8 billion yen in January.

 

Economics

 

Data on housing market index for March will be released at 10:00 a.m. ET.

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