U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 50 points on Friday.

Following the market opening Friday, the Dow traded up 0.04% to 38,805.52 while the NASDAQ rose 0.41% to 16,339.39. The S&P 500 also rose, gaining, 0.23% to 5,169.38.

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Leading and Lagging Sectors

Real estate shares jumped by 0.7% on Friday.

In trading on Friday, consumer staples shares fell by 1%.

Top Headline

Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000. The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.

Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.

Equities Trading UP

Psyence Biomedical Ltd. (NASDAQ:PBM) shares shot up 143% to $3.0831. Psyence Biomedical recently announced its subsidiary, Psyence Australia, received Human Research Ethics Committee approval to initiate its Phase IIb study.

Shares of Ainos, Inc. (NASDAQ:AIMD) got a boost, surging 147% to $2.7650.

Safe and Green Development Corporation (NASDAQ:SGD) shares were also up, gaining 85% to $1.2197 after the company announced financing for the Norman Berry Expansion in Atlanta, Georgia.

Equities Trading DOWN

Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) shares dropped 85% to $2.7650 after the company announced its PHOENIX phase 3 trial of AMX0035 for amyotrophic lateral sclerosis did not meet its primary endpoint and there was no statistical significance seen in secondary endpoints.

Shares of Nexalin Technology, Inc. (NASDAQ:NXL) were down 17% to $0.4499. Nexalin Technology recently announced results of a clinical study of its Gen-2 tACS device for the treatment of chronic insomnia.

BigBear.ai Holdings, Inc. (NYSE:BBAI) was down, falling 25% to $2.8099 after the company reported worse-than-expected fourth-quarter financial results.

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Commodities

In commodity news, oil traded down 0.6% to $78.49 while gold traded up 0.7% at $2,179.70.

Silver traded up 0.1% to $24.585 on Friday while copper fell 0.4% to $3.9115.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.2%, London’s FTSE 100 fell 0.4% while Spain’s IBEX 35 Index rose 0.2% The German DAX fell 0.1% French CAC 40 rose 0.2% while Italy’s FTSE MIB Index rose 0.2%.

The eurozone economy stagnated during the fourth quarter compared to a 0.1% decline in the prior three-month period. French trade deficit increased to €7.4 billion in January from €6.4 billion in the prior month. Spanish industrial output declined by 0.6% year-over-year in January. Producer prices in Germany declined by 4.4% year-over-year in January, while industrial output increased by 1.0% month-over-month for January.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 0.23%, Hong Kong’s Hang Seng Index gaining 0.76% and China’s Shanghai Composite Index gaining 0.61%.

Economics

Nonfarm payrolls beat economist estimates, coming at 275,000 in February compared to the expected 200,000.

The unemployment rate rose from 3.7% to 3.9%, surprising estimates of 3.7%.

Average hourly wages grew at a 0.1% monthly pace in February, easing from the downwardly revised 0.5% growth in January, and below the expected 0.3%.

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