Dow Falls Over 100 Points; US Producer Prices Rise In October

Author: Avi Kapoor | November 14, 2024 01:19pm

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 50 points on Thursday.

The Dow traded down 0.29% to 43,828.65 while the NASDAQ fell 0.29% to 19,175.65. The S&P 500 also fell, dropping, 0.33% to 5,965.40.

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Leading and Lagging Sectors

Financials shares rose by 0.3% on Thursday.

In trading on Thursday, health care shares fell by 0.9%.

Top Headline

U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.

Equities Trading UP

AgEagle Aerial Systems, Inc. (NYSE:UAVS) shares shot up 162% to $4.1996 after the company announced 17 new purchase orders for its eBee TAC drones from U.S. defense and security customers.
Shares of Hillenbrand, Inc. (NYSE:HI) got a boost, surging 15% to $34.53 following upbeat quarterly results.
Gaxos.ai Inc. (NASDAQ:GXAI) shares were also up, gaining 33% to $1.9210 after the company’s board approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset.

Equities Trading DOWN

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares dropped 44% to $6.00 after the company reported data from its Phase 1b study evaluating NXP800.
Shares of Sow Good Inc. (NASDAQ:SOWG) were down 48% to $5.13 after the company reported worse-than-expected quarterly financial results.
Vislink Technologies, Inc. (NASDAQ:VISL) was down, falling 25% to $4.8904 after the company reported worse-than-expected third-quarter financial results.

Commodities

In commodity news, oil traded up 0.2% to $68.54 while gold traded down 0.8% at $2,566.20.

Silver traded down 1.1% to $30.340 on Thursday, while copper fell 0.1% to $4.0780.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.03%, Germany's DAX climbed 1.34% and France's CAC 40 gained 1.22%. Spain's IBEX 35 Index gained 1.21%, while London's FTSE 100 rose 0.42%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.48%, Hong Kong's Hang Seng Index falling 1.96%, China's Shanghai Composite Index dipping 1.73% and India's BSE Sensex falling 0.14%.

Economics

U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.
U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.

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