US Stocks Edge Higher; Coherus Reports FDA Approval Of UDENYCA ONBODY

Author: Avi Kapoor | December 27, 2023 10:56am

U.S. stocks traded slightly higher this morning, with the Dow Jones index gaining more than 20 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.08% to 37,575.13 while the NASDAQ rose 0.17% to 15,099.84. The S&P 500 also rose, gaining, 0.07% to 4,777.93.

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Leading and Lagging Sectors

 

Consumer discretionary shares jumped by 0.5% on Wednesday.

In trading on Wednesday, financial shares fell by 0.2%.

 

Top Headline

 

Coherus BioSciences, Inc. (NASDAQ:CHRS) announced FDA approval of UDENYCA ONBODY for pegfilgrastim-cbqv.

 

Equities Trading UP

 

First Wave BioPharma, Inc. (NASDAQ:FWBI) shares shot up 236% to $12.35 after the company announced that it entered a non-binding term sheet to sell its Niclosamide program for the treatment of inflammatory bowel diseases.

Shares of Cingulate Inc. (NASDAQ:CING) got a boost, surging 122% to $4.65.

RiskOn International, Inc. (NASDAQ:ROI) shares were also up, gaining 76% to $0.25. RiskOn International expects to announce its new generative AI platform and technology partner on Jan. 3, 2024.

 

Equities Trading DOWN

 

Hallmark Financial Services, Inc. (NASDAQ:HALL) shares dropped 26% to $1.1597.
Hallmark Financial Services gave notice to Nasdaq of intention to voluntarily delist its shares of common stock from Nasdaq Global Market.

Shares of Baosheng Media Group Holdings Limited (NASDAQ:BAOS) were down 16% to $4.8999.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was down, falling 18% to $7.26 after the FDA placed a clinical hold on the IOV-LUN-202 trial in response to a recently reported Grade 5 adverse event potentially related to the non-myeloablative lymphodepletion pre-conditioning regimen.

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Commodities

 

In commodity news, oil traded down 0.6% to $75.13 while gold traded up 0.4% at $2,079.00.

Silver traded down 0.2% to $24.355 on Wednesday while copper rose 0.4% to $3.9185.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 rose 0.3%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index rose 0.2% The German DAX rose 0.3% French CAC 40 rose 0.2%, while Italy’s FTSE MIB Index gained 0.3%.

 

Asia Pacific Markets

 

Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 gaining 1.13%, Hong Kong’s Hang Seng Index rising 1.74% and China’s Shanghai Composite Index gaining 0.54%. India’s S&P BSE Sensex, meanwhile, rose 0.98%.

Japan's housing starts fell by 8.5% year-over-year in November following a 6.3% decline in the earlier month. Profits earned by Chinese industrial firms fell by 4.4% year-over-year to CNY 6,982.28 billion during the first eleven months of the year. Producer prices in Malaysia fell by 1.5% year-over-year in November.

 

Economics

 

The Richmond Fed's manufacturing index will be released at 10:00 a.m. ET.

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Posted In: BAOS CHRS CING FWBI HALL IOVA ROI