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Dow Surges 150 Points, US Current Account Deficit Widens In Q3
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Dow Surges 150 Points, US Current Account Deficit Widens In Q3
Dec 18, 2024 8:00 AM

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 150 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.36% to 43,607.95 while the NASDAQ rose 0.07% to 20,123.16. The S&P 500 also rose, gaining, 0.12% to 6,058.13.

Check This Out: How To Earn $500 A Month From Micron Stock Ahead Of Q1 Earnings

Leading and Lagging Sectors

Information technology shares rose by 0.5% on Wednesday.

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

Top Headline

The U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period and versus market estimates of a $284 billion gap.

Equities Trading UP

                       

Polyrizon Ltd. ( PLRZ ) shares shot up 273% to $3.9199 after the company announced it secured a GMP partnership with Eurofins CDO Amatsiaquitaine.

Shares of Snow Lake Resources Ltd. ( LITM ) got a boost, surging 200% to $0.5353.

Nvni Group Limited ( NVNI ) shares were also up, gaining 214% to $1.32.

Equities Trading DOWN

TransCode Therapeutics, Inc. ( RNAZ ) shares dropped 49% to $3.24. TransCode Therapeutics ( RNAZ ) announced Safety Review Committee approval of opening third cohort and preliminary results from first cohort in Phase 1 TTX-MC138 clinical trial.

Shares of XCHG Limited ( XCH ) were down 48% to $12.21.

Corvus Pharmaceuticals, Inc. ( CRVS ) was down, falling 46% to $4.0098. The company announced interim data from the randomized, double-blind, placebo-controlled Phase 1 clinical trial evaluating soquelitinib in patients with moderate to severe atopic dermatitis.

Commodities

In commodity news, oil traded up 1.2% to $70.93 while gold traded down 0.3% at $2,653.10.

Silver traded down 0.7% to $30.700 on Wednesday, while copper rose 0.3% to $4.1580.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 rose 0.2%, Germany's DAX rose 0.2% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index gained 0.6%, while London's FTSE 100 rose 0.1%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.72%, Hong Kong's Hang Seng Index gaining 0.83%, China's Shanghai Composite Index gaining 0.62% and India's BSE Sensex falling 0.62%.

Economics

U.S. mortgage applications fell by 0.7% from the previous week during the week ending Dec. 13, compared to the 5.4% gain in the previous week.

The U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period and versus market estimates of a $284 billion gap.

U.S. housing starts fell 1.8% to an annualized rate of 1.289 million units in November from 1.312 million in October.

U.S. building permits in gained by 6.1% to an annualized rate of 1.505 million in November.

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