Nasdaq Surges Over 1%; XPeng Shares Spike Higher

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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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