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I'm Henriette with the Marketplace Minute.

Stocks closed higher today, the Dow was up nearly 1%, the NASDAQ and S&P 500 both rose over 8-10%.

The big story on Wall Street today, microchip design company arms initial public offering.

It shares gained 24% on their first day of trading.

The strong debut could pave the way for more companies to go public in the coming months.

Not many large firms have turned to stock exchanges this year, but some including Birkenstock and

Instacard are poised to do it soon. GM offered auto workers a 20% wage hike in the latest bid

by a carmaker to avoid a strike ahead of a midnight deadline.

United auto workers union members are prepared to strike at auto plants owned by GM,

Ford and Stellantis if they can't reach new contract deals in the next few hours.

An average 30-year mortgage rates ticked up slightly according to new data from Freddie Mac

rates held above 7% for the fifth straight week.

I borrowing costs have kept some homes off the market.

I'm Henriette with the Marketplace Minute.