U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining more than 1% on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.02% to 44,257.30 while the NASDAQ rose 1.27% to 19,936.66. The S&P 500 also rose, gaining, 0.64% to 6,073.33.

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Leading and Lagging Sectors

Communication services shares jumped by 2.4% on Wednesday.

In trading on Wednesday, health care shares fell by 1.1%.

Top Headline

The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.

On a monthly basis, the CPI jumped 0.3%, accelerating from October’s 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday showed.

Equities Trading UP

Candel Therapeutics, Inc. ( CADL ) shares shot up 124% to $10.32 after the company announced results from its Phase 3 clinical trial evaluating CAN-2409 viral immunotherapy in localized prostate cancer patients.

Shares of AmpliTech Group, Inc. ( AMPG ) got a boost, surging 109% to $2.07 after the company announced the development and deployment of its proprietary low-noise cryogenic High Electron Mobility Transistor amplifiers.

SEALSQ Corp ( LAES ) shares were also up, gaining 98% to $1.1400.

Equities Trading DOWN

Cellectar Biosciences, Inc. ( CLRB ) shares dropped 74% to $0.3356 after the company announced it is seeking strategic options for the Iopofosine I 131 late-stage clinical program. This will impact all departments and result in an immediate 60% headcount reduction.

Shares of Q32 Bio Inc ( QTTB ) were down 68% to $7.91 after the company announced that while its SIGNAL-AD Phase 2a clinical trial in atopic dermatitis showed promising findings in Part A, it did not meet the primary endpoint in Part B.

TFF Pharmaceuticals, Inc. ( TFFP ) was down, falling 42% to $0.1758.

Commodities

In commodity news, oil traded up 1.2% to $69.38 while gold traded up 1.3% at $2,753.20.

Silver traded up 1% to $33.075 on Tuesday, while copper fell 0.3% to $4.2615.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.23%, Germany's DAX rose 0.17% and France's CAC 40 gained 0.31%. Spain's IBEX 35 Index fell 1.31%, while London's FTSE 100 rose 0.23%.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.01%, Hong Kong's Hang Seng Index falling 0.77%, China's Shanghai Composite Index gaining 0.29% and India's BSE Sensex gaining 0.02%.

Economics

The Consumer Price Index rose by 2.7% year-over-year in November 2024, exceeding October's 2.6% reading and matching analyst estimates of 2.7%, according to TradingEconomics. This marks the second consecutive increase in annual inflation — a trend not seen since April.

On a monthly basis, the CPI jumped 0.3%, accelerating from October’s 0.2% gain and matching expectations of a 0.3% rise, official data released Wednesday showed.

U.S. crude inventories declined by 1.425 million barrels in the latest week, compared to market estimates of a 1.1 million-barrel decline.

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