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News

Gold Moves Lower; Phunware Shares Plummet

Author: Avi Kapoor | January 17, 2024 12:43pm

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.

Check This Out: How To Earn $500 A Month From Alcoa Stock Ahead Of Q4 Earnings Report

 

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.

Also Check This Out: Insiders Buying Dorian LPG And 2 Other Stocks

 

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.

Now Read This: Top 3 Industrials Stocks That Could Blast Off In January

Posted In: BCEL DATS LQR MIMO PHUN TSP

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