Gold Moves Lower; Phunware Shares Plummet
U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Wednesday.
The Dow traded down 0.04% to 37,345.91 while the NASDAQ fell 0.86% to 14,815.87. The S&P 500 also fell, dropping, 0.47% to 4,743.45.
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Leading and Lagging Sectos
Health care shares rose by 0.2% on Wednesday.
In trading on Wednesday, real estate shares fell by 1.2%.
Top Headline
U.S. industrial production rose by 0.1% from the prior month in December.
Equities Trading UP
Airspan Networks Holdings Inc. (NASDAQ:MIMO) shares shot up 339% to $0.3368. Airspan announced a partnership with GCT Semiconductor to develop an RF module.
Shares of LQR House Inc. (NASDAQ:LQR) got a boost, surging 30% to $2.6199 after dipping 45% on Tuesday. LQR House announced an increase of its share buyback program to $5 million.
Atreca, Inc. (NASDAQ:BCEL) shares were also up, gaining 22% to $0.3106.
Equities Trading DOWN
TuSimple Holdings Inc. (NASDAQ:TSP) shares dropped 58% to $0.3001. TuSimple announced intention to delist from the Nasdaq.
Shares of Phunware, Inc. (NASDAQ:PHUN) were down 50% to $0.2094 after the company announced pricing of a $7 million registered direct offering price at-the-market under Nasdaq rules.
DatChat, Inc. (NASDAQ:DATS) was down, falling 40% to $1.90 after the company announced pricing of a $1.8 million underwritten public offering of common stock.
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Commodities
In commodity news, oil traded down 0.5% to $72.07 while gold traded down 0.8% at $2,013.30.
Silver traded down 1.2% to $22.82 on Wednesday while copper fell 0.8% to $3.7370.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.30%, London’s FTSE 100 fell 1.7% while Spain’s IBEX 35 Index dipped 1.39% The German DAX fell 0.99% French CAC 40 fell 1.22% while Italy’s FTSE MIB Index fell 1%.
The inflation rate in the Euro Area rose to 2.9% in December versus 2.4% in November. Annual inflation rate in the UK increased to 4% in December from 3.9% in November, while factory gate prices of goods produced by manufacturers rose 0.1% year-over-year in December following a revised 0.1% decline in November.
Asia Pacific Markets
Asian markets closed lower on Wednesday, with Japan’s Nikkei 225 falling 0.40%, Hong Kong’s Hang Seng Index falling 3.71% and China’s Shanghai Composite Index gaining 2.09%. India’s S&P BSE Sensex, meanwhile, fell 2.23%.
Chinese surveyed urban unemployment rate rose to 5.1% in December from 5.0% in the prior three months, while retail sales rose by 7.4% year-over-year in December. The Chinese economy expanded by a seasonally adjusted 1.0% in the fourth quarter, while industrial production rose by 6.8% year-over-year in December.
Economics
Retail sales in the US rose 0.6% month-over-month in December compared to a 0.3% increase in November.
US import prices came in unchanged in December, while export prices declined 0.9% month-over-month in December.
Total business inventories declined by 0.1% month-over-month in November.
The NAHB/Wells Fargo Housing Market Index climbed to 44 in January from 37 in the prior month.
Industrial production rose by 0.1% from the prior month in December.
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