Nasdaq Surges Over 400 Points; China Pharma Shares Plummet

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 400 points on Monday.

Following the market opening Monday, the Dow traded up 0.74% to 38,597.69 while the NASDAQ climbed 2.73% to 16,013.90. The S&P 500 also rose, gaining, 1.87% to 5,168.84.

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Leading and Lagging Sectors

Information technology shares surged by 4.7% on Monday.

In trading on Monday, consumer staples shares rose by just by 0.7%.

Top Headline

The Manheim Used Vehicle Value Index fell 0.7% month-over-month in March, matching the pace of decline in the previous month.

Equities Trading UP
                       

• Janover Inc. (NASDAQ:JNVR) shares shot up 331% to $17.22. Janover raised $42 million in convertible notes and warrants from Pantera Capital, Kraken, Arrington Capital, and others.
• Shares of Bluejay Diagnostics, Inc. (NASDAQ:BJDX)got a boost, surging 136% to $8.07.
• Chanson International Holding (NASDAQ:CHSN) shares were also up, gaining 111% to $0.4620 as the company reported a year-over-year increase in FY24 financial results.

Equities Trading DOWN

• Antelope Enterprise Holdings Limited (NASDAQ:AEHL) shares dropped 44% to $2.3988. The company recently announced a 1-for-40 reverse stock split.
• Shares of China Pharma Holdings, Inc. (NYSE:CPHI) were down 38% to $0.1370 as the company reported a 1-for-10 reverse stock split.
• reAlpha Tech Corp (NASDAQ:AIRE) was down, falling 38% to $0.6401 as the company announced exercise of warrants for $3.1 million gross proceeds.

Commodities

In commodity news, oil traded up 2.4% to $63.45 while gold traded up 0.3% at $3,045.00.

Silver traded up 4.3% to $30.495 on Monday, while copper rose 0.4% to $4.4135.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 2.9%, Germany's DAX 40 dipped 2.1% and France's CAC 40 fell 2.4%. Spain's IBEX 35 Index fell 4.7%, while London's FTSE 100 dipped 2.1%.

Asia Pacific Markets

Asian markets closed lower on Monday, with Japan's Nikkei 225 dipping 7.83%, China's Shanghai Composite falling 7.34%, Hong Kong's Gang Seng index dipping 13.22% and India's BSE Sensex falling 2.95%.

Economics

The Manheim Used Vehicle Value Index fell 0.7% month-over-month in March, matching the pace of decline in the previous month.

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