share_log

US Stocks Mixed; Producer Prices Increase In August

Benzinga ·  Sep 12 22:23

U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 50 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.18% to 40,787.46 while the NASDAQ rose 0.26% to 17,440.55. The S&P 500 also rose, gaining, 0.06% to 5,557.68.

Leading and Lagging Sectors
Communication services shares rose by 1.3% on Thursday.

In trading on Thursday, real estate shares dipped by 0.5%.

Top Headline

U.S. producer prices rose 0.2% month-over-month in August compared to a revised flat reading in the previous month and higher than market estimates of 0.1%.

Equities Trading UP

  • Tenon Medical, Inc. (NASDAQ:TNON) shares shot up 139% to $7.24.
  • Shares of Visionary Holdings Inc. (NASDAQ:GV) got a boost, surging 191% to $5.91 after the company announced it signed an MoU with the Public Investment Fund of Saudi Arabia, investing $120 million to fully support the development of its various industry projects.
  • Smart for Life, Inc. (NASDAQ:SMFL) shares were also up, gaining 74% to $1.48. HRT Financial LP acquired a new stake in Smart for Life.

Equities Trading DOWN

  • Ryde Group Ltd. (NYSE:RYDE) shares dropped 74% to $3.47 after dipping more than 35% on Wednesday.
  • Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) were down 61% to $3.45 after the company announced that its Phase 3 REACH trial evaluating losmapimod in patients with FSHD, did not achieve its primary endpoint of change from baseline in RSA with losmapimod compared to placebo.
  • Oncternal Therapeutics, Inc. (NASDAQ:ONCT) was down, falling 57% to $1.7399 after the company announced termination of its clinical studies and exploration of strategic alternatives.

Commodities
In commodity news, oil traded up 1.6% to $68.36 while gold traded up 0.2% at $2,546.60.

Silver traded up 0.6% to $29.090 on Thursday, while copper rose 1.8% to $4.2170.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1%, Germany's DAX gained 1.2% and France's CAC 40 rose 0.8%. Spain's IBEX 35 Index rose 1.1%, while London's FTSE 100 rose 0.8%.

The annual inflation rate in Spain eased to 2.3% in August from 2.8% in July, while German wholesale prices fell by 1.1% year-over-year in August.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan's Nikkei 225 jumping 3.41%, Hong Kong's Hang Seng Index gaining 0.77%, China's Shanghai Composite Index falling 0.17% and India's BSE Sensex surging 1.77%.

Manufacturing production in Hong Kong increased 0.7% year-over-year during the second quarter. Producer prices in Japan rose by 2.5% year-over-year in August versus a 3.0% growth in the previous month.

Economics

  • U.S. producer prices rose 0.2% month-over-month in August compared to a revised flat reading in the previous month and higher than market estimates of 0.1%.
  • U.S. initial jobless claims increased by 2,000 from the earlier week to 230,000 in the week ending Sept. 7.

Now Read This:

  • Top 3 Tech Stocks You'll Regret Missing In September
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment