Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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. (NYSE: XPEV) gained over 5% on Monday on reports the company plans to launch cheaper EV models.
Equities Trading UP
Solidion Technology Inc. (NASDAQ: 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. (NASDAQ: 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. (NASDAQ: 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 (NASDAQ: GMM) shares dropped 39% to $1.79.
Shares of Sonder Holdings Inc. (NASDAQ: 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. (NASDAQ: 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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