Nasdaq Rises 50 Points; US Manufacturing PMI Improves In September
Portfolio Pulse from Lisa Levin
US stocks traded slightly higher with the Nasdaq Composite gaining around 50 points. The S&P Global manufacturing PMI rose to 48.9 in September from 47.9 in the prior month, beating market estimates of 48. MicroAlgo Inc. (NASDAQ:MLGO), Cheche Group Inc. (NASDAQ:CCG), and Avalo Therapeutics, Inc. (NASDAQ:AVTX) saw significant gains, while Neptune Wellness Solutions Inc. (NASDAQ:NEPT), Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS), and FLJ Group Limited (NASDAQ:FLJ) experienced drops.
September 22, 2023 | 2:22 pm
News sentiment analysis
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POSITIVE IMPACT
Avalo Therapeutics, Inc. shares were up 30% after agreeing to divest AVTX-800 series.
The divestment of the AVTX-800 series could be seen as a positive move by investors, leading to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cheche Group Inc. shares rose 39% amid volatility following a business combination and a successful collaboration with Li Auto.
The business combination and successful collaboration with Li Auto are positive developments for Cheche Group, which could attract more investors and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MicroAlgo Inc. shares shot up 39% after unveiling a knowledge-enhanced backtracking search algorithm.
The unveiling of a new algorithm is a positive development for MicroAlgo, which could attract more investors and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FLJ Group Limited was down, falling 28%.
The stock price of FLJ Group Limited fell, possibly due to market factors or investor sentiment.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Neptune Wellness Solutions Inc. shares dropped 45% after announcing pricing of a $4.5 million public offering.
The announcement of the public offering pricing could have led to a sell-off, causing the stock price to drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Powerbridge Technologies Co., Ltd. were down 29% after expanding global trade digital platform services.
Despite the expansion of services, the stock price dropped, possibly due to other market factors or investor sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100