Stock Market Update

[BRIEFING.COM] The major averages continue to trade higher as the session draws to a close.

Quantinuum's (QNT 61.55, +1.55, +2.58%) IPO was highly successful, with the deal upsized from 21.05 million shares to 26.5 million shares, then priced at $60 per share, well above the $53-$55 projected range, before opening at $68 for a 13% opening gain.

Demand was strong because Quantiniuum offers investors one of the clearest pure-play exposures to quantum computing, with a more established pedigree than many earlier quantum listings because it was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum and still benefits from Honeywell's (HON 217.68, -5.58, -2.50%) backing.