Nasdaq Gains 150 Points; US Mortgage Applications Decline

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 150 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.08% to 46,642.55 while the NASDAQ rose 0.70% to 22,947.47. The S&P 500 also rose, gaining, 0.35% to 6,738.32.

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Leading and Lagging Sectors

Information technology shares jumped by 1.1% on Wednesday.

In trading on Wednesday, energy stocks fell by 0.9%.

Top Headline

The volume of mortgage applications in the U.S. fell by 4.7% in the week ending Oct. 3, compared to a 12.7% plunge in the previous period.

Equities Trading UP

Xenetic Biosciences, Inc. (NASDAQ:XBIO) shares shot up 174% to $11.75.
Shares of Connexa Sports Technologies Inc. (NASDAQ:YYAI) got a boost, surging 102% to $0.3639.
AlphaTON Capital Corp. (NASDAQ:ATON) shares were also up, gaining 81% to $10.08.

Equities Trading DOWN

Galecto, Inc. (NASDAQ:GLTO) shares dropped 42% to $10.48 after jumping 383% on Tuesday.
Shares of Zeta Network Group (NASDAQ:ZNB) were down 41% to $2.00 as the company announced a $15 million registered direct offering of 15 million shares at $1.00 per share.
Envoy Medical, Inc. (NASDAQ:COCH) was down, falling 38% to $0.9854 after the company announced a $4 million registered direct offering and concurrent private placement of stock and warrants at $1.33 per share.

Commodities

In commodity news, oil traded up 0.9% to $62.26 while gold traded up 1.3% at $4,058.00.

Silver traded up 1.9% to $48.395 on Wednesday, while copper rose 0.1% to $5.0985.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.7%, while Spain's IBEX 35 Index rose 0.8%. London's FTSE 100 rose 0.6%, Germany's DAX 40 rose 0.8% and France's CAC 40 gained 0.9% during the session.

Asia Pacific Markets

Asian markets closed lower on Wednesday, with Japan's Nikkei 225 falling 0.45%, Hong Kong's Hang Seng index falling 0.48%, and India's BSE Sensex declining 0.19%.

Economics

The volume of mortgage applications in the U.S. fell by 4.7% in the week ending Oct. 3, compared to a 12.7% plunge in the previous period.

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