Nasdaq Rises 100 Points; Chagee Shares Gain After Q3 Results

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 100 points on Friday.

Following the market opening Friday, the Dow traded up 0.15% to 47,497.50 while the NASDAQ rose 0.44% to 23,314.64. The S&P 500 also rose, gaining, 0.24% to 6,829.29.

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Leading and Lagging Sectors

Communication services shares jumped by 1.1% on Friday.

In trading on Friday, health care stocks fell by 0.3%.

Top Headline

Shares of Chagee Holdings Limited (NASDAQ:CHA) gained around 4% on Friday after the company released earnings for the third quarter.

Non-GAAP net income fell to RMB502.8 million ($70.6 million), from RMB646.6 million in the year-ago quarter. Net revenues fell to RMB3,208.3 million ($450.7 million), from RMB3,541.2 million in the year-ago quarter.

Equities Trading UP
           

• SMX (Security Matters) Public Limited Company (NASDAQ:SMX) shares shot up 81% to $31.42.
• Shares of Pasithea Therapeutics Corp. (NASDAQ:KTTA) got a boost, surging 86% to $1.9700 after the company reported the pricing of $60 million public offering of common stock.
• HeartBeam, Inc. (NASDAQ:BEAT) shares were also up, gaining 47% to $0.8887 after announcing its regulatory strategy following the Food and Drug Administration's Not Substantially Equivalent (NSE) decision on its 12-lead Electrocardiogram Synthesis Software.

Equities Trading DOWN

• Rubico Inc. (NASDAQ:RUBI) shares dropped 29% to $0.1528 as the company reported a reverse stock split.
• Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were down 17% to $0.8605 after the company announced a reverse stock split.
• ECD Automotive Design, Inc. (NASDAQ:ECDA) was down, falling 17% to $0.4429.

Commodities

In commodity news, oil traded up 0.6% to $58.99 while gold traded up 0.3% at $4,215.20.

Silver traded up 1.5% to $54.420 on Friday, while copper rose 0.2% to $5.2025.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 rose 0.2%, Germany's DAX 40 gained 0.2% and France's CAC 40 rose 0.2% during the session.

Asia Pacific Markets

Asian markets closed mixed on Friday, with Japan's Nikkei gaining 0.17%, Hong Kong's Hang Seng falling 0.34%, China's Shanghai Composite rising 0.34% and India's BSE Sensex falling 0.02%.

Economics

No major economic reports are scheduled for release today.

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