U.S. stocks traded mixed this morning, with the Dow Jones gaining around 20 points on Wednesday.
The Dow traded up 0.07% to 29,154.99 while the NASDAQ fell 0.23% to 10,804.74. The S&P 500 also rose, gaining, 0.03% to 3,648.44.
Also check this: Market Volatility Increases Amid Another Drop On Wall Street
Leading and Lagging Sectors
Energy shares rose by 1.2% on Wednesday.
In trading on Wednesday, information technology shares dipped by 1.4%.
Top Headline
The trade gap on goods in the US shrank for a fifth straight month to $87.3 billion in August, the lowest since October last year. Imports declined 1.7%, while exports fell 0.9% last month. Wholesale inventories in the US increased by 1.3% month-over-month to $913.1 billion in August following a 0.6% rise in the previous month.
Equities Trading UP
- Prothena Corporation plc (NASDAQ:PRTA) shares shot up 75% to $54.42 after Biogen and Eisai Co. Ltd. announced late Tuesday positive results from a late-stage study of their Alzheimer’s treatment candidate. Prothena is a biotechnology company that focuses on protein dysregulation and a pipeline of investigational therapeutics with the potential to change the course of devastating rare neurodegenerative diseases, like Alzheimer’s.
- Shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) got a boost, shooting 65% to $3.50 after the company announced it received an additional $7.7 million from the exercise of warrants.
- Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS) shares were also up, gaining 60% to $7.54 after Biogen and Eisai announced their Phase 3 Clarity study of lecanemab met its primary endpoint.
Equities Trading DOWN
- Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) shares tumbled 50% to $3.0379 after the company priced a 7.05 million share offering of common shares and warrants at $4.25 per share plus warrants.
- Shares of Nano Labs Ltd (NASDAQ:NA) were down 37% to $1.9896 after the company priced a roughly 2.08 million ADS public offering at $2.40 per ADS.
- A2Z Smart Technologies Corp. (NASDAQ:AZ) was down, falling 17% to $1.8001.
Also check out: Investor Fear Increases Further As Dow Enters Bear Market
Commodities
In commodity news, oil traded up 1.8% to $79.87, while gold traded up 1.5% at $1,661.30.
Silver traded up 1.8% to $18.66 on Wednesday while copper rose 1.2% to $3.3220.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index fell 0.3%. The German DAX declined 0.1%, French CAC 40 fell 0.2% and Italy’s FTSE MIB Index fell 0.8%.
Italian consumer confidence declined by 3.5 points from the previous month to 94.8 in September, while manufacturing confidence slipped to 101.3 in September a revised 104 in the earlier month. Consumer confidence in France fell to 79 in September from 82 a month ago. The GfK Consumer Climate Indicator in Germany dropped to -42.5 heading into October versus a revised -36.8 a month ago.
Economics
- The trade gap on goods in the US shrank for a fifth straight month to $87.3 billion in August, the lowest since October last year. Imports declined 1.7%, while exports fell 0.9% last month.
- Wholesale inventories in the US increased by 1.3% month-over-month to $913.1 billion in August following a 0.6% rise in the previous month.
- Pending home sales in the US dropped 2% month-over-month in August versus market expectations for a 1.4% decline.
- The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
- Federal Reserve Governor Michelle Bowman will speak at 11:00 a.m. ET.
- The survey of business uncertainty report for September is scheduled for release at 11:00 a.m. ET.
- The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
- Federal Reserve Bank of Chicago President Charles Evans is set to speak at 2:00 p.m. ET.
