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Dow Jumps 200 Points; US Inflation Rate Slows In April
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Dow Jumps 200 Points; US Inflation Rate Slows In April
May 15, 2024 7:25 AM

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.

Following the market opening, the Dow traded up 0.54% to 39,772.77 while the NASDAQ rose 0.57% to 5,276.57. The S&P 500 also rose, gaining, 0.59% to 16,608.83                                                .  .

Check This Out: Wall Street’s Most Accurate Analysts’ Views On 3 Materials Stocks Delivering High-Dividend Yields

Leading and Lagging Sectors

Real estate shares rose by 1.8% on Wednesday.

In trading on Wednesday, energy shares fell by 0.5%.

Top Headline

U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%. Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago.

Equities Trading UP

                       

Sintx Technologies, Inc shares shot up 173% to $0.15 after jumping over 41% on Tuesday. SINTX Technologies recently posted downbeat quarterly results.

Shares of Edible Garden AG Incorporated got a boost, surging 89% to $8.06 following first-quarter results.

Faraday Future Intelligent Electric Inc shares were also up, gaining 75% to $0.4998 after jumping around 368% on Tuesday.

Equities Trading DOWN

Virpax Pharmaceuticals, Inc. shares dropped 63% to $0.85 after the company reported pricing of $2.25m public offering.

Shares of Yield10 Bioscience, Inc. were down 49% to $2.69 after the company reported delisting from the Nasdaq.

Aethlon Medical, Inc. was down, falling 41% to $0.5050 after the company announced pricing of $4.7 million public offering.

Also Check This Out: Dell To Rally Over 13%? Here Are 10 Top Analyst Forecasts For Wednesday

Commodities

In commodity news, oil traded down 0.5% to $77.63 while gold traded up 0.5% at $2,370.80.

Silver traded up 1.3% to $29.07 on Wednesday, while copper rose 2.1% to $4.9980.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.3%, Germany's DAX rose 0.5% and France's CAC 40 slipped 0.1%. Spain's IBEX 35 Index rose 0.5%, while London's FTSE 100 rose 0.5%.

Industrial production in the Eurozone increased by 0.6% month-over-month in March compared to a revised 1% gain in the previous month. The Eurozone economy grew by 0.3% on quarter during the first three months, compared to a 0.1% decline in the prior quarter.

The annual inflation rate in France fell to 2.2% in April from 2.3% in March.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei gaining 0.08%, China's Composite Index falling 0.82%, Hong Kong's Hang Seng Index falling 0.22% and India's S&P BSE Sensex falling 0.22%.

Total passenger vehicle sales in India rose 1.2% year-over-year to 287,746 in April compared to an 8.9% rise in the prior month. The People’s Bank of China kept the interest rate unchanged at 2.50%.

Economics

Mortgage applications in the US rose 0.5% from the prior week in the period ending May 10.

U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%.

Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago.

U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.

The NY Empire State Manufacturing Index declined to -15.6 in May compared to -14.3 in the prior month, and versus market estimates of -10.0.

Now Read This: Top 3 Consumer Stocks That Could Blast Off This Month

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