US Stocks Rise; Nasdaq Gains Over 50 Points

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 50 points on Monday.

Following the market opening Monday, the Dow traded up 0.12% to 34,988.28 while the NASDAQ rose 0.49% to 14,194.23. The S&P 500 also rose, gaining, 0.17% to 4,521.69.

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Leading and Lagging Sectors

Information technology shares surged by 0.7% on Monday.

In trading on Monday, utilities shares fell by 1.5%.

Top Headline

Microsoft Corp’s MSFT CEO Satya Nadella announced that OpenAI's Sam Altman and Greg Brockman will be joining the company.

Equities Trading UP

Bruush Oral Care Inc. BRSH shares shot up 182% to $0.4760. Brüush received Nasdaq notification regarding minimum bid requirements.

Shares of Nogin, Inc. NOGN got a boost, shooting 68% to $0.3027.

Cuentas Inc. CUEN shares were also up, gaining 60% to $1.52 after reporting a narrower quarterly loss.

Equities Trading DOWN

NanoString Technologies, Inc. NSTG shares dropped 45% to $0.71.

Shares of PaxMedica, Inc. PXMD were down 37% to $1.0950 after the company announced pricing of $7 million public offering of 5,384,615 shares and accompanying warrants at a price of $1.30 per unit.

Intelligent Bio Solutions Inc. INBS was down, falling 34% to $0.30.

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Commodities

In commodity news, oil traded up 1.7% to $77.15 while gold traded down 0.5% at $1,974.60.

Silver traded down 1.6% to $23.47 on Monday while copper rose 0.5% to $3.7555.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 slipped 0.1%, London’s FTSE 100 fell 0.2% while Spain’s IBEX 35 Index rose 0.7% The German DAX fell 0.3% French CAC 40 rose 0.2%, while Italy’s FTSE MIB Index fell 0.1%.

Construction output in the Eurozone fell by 0.3% year-over-year in September. Producer prices in Germany fell by 11.0% year-over-year in October following a 14.7% decline in September.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan’s Nikkei 225 falling 0.59%, Hong Kong’s Hang Seng Index gaining 1.86% and China’s Shanghai Composite Index gaining 0.46%. India’s S&P BSE Sensex, meanwhile, fell 0.21%.

The People's Bank of China kept lending rates unchanged at the November fixing. Malaysia’s trade surplus shrank to MYR 12.9 billion in October from MYR 18.6 billion in the year-ago month.

Economics

The index of leading economic indicators for October will be released at 10:00 a.m. ET.

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