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S&P 500 Edges Lower; PacBio Shares Plunge
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S&P 500 Edges Lower; PacBio Shares Plunge
Apr 16, 2024 11:57 AM

U.S. stocks traded mixed toward the end of trading, with the S&P 500 falling around 0.3% on Tuesday.

The Dow traded up 0.02% to 37,741.96 while the NASDAQ fell 0.20% to 15,853.39. The S&P 500 also fell, dropping, 0.28% to 5,047.76.

Check This Out: Alphabet, Toll Brothers And 2 Other Stocks Insiders Are Selling

 

Leading and Lagging Sectors

 

Information technology shares rose by 0.4% on Tuesday.

In trading on Tuesday, real estate shares fell by 1.8%.

 

Top Headline

 

Industrial production in the U.S. increased by 0.4% from the prior month in March versus a revised 0.4% rise in the prior month.

 

Equities Trading UP

 

Jaguar Health, Inc. ( JAGX ) shares shot up 52% to $0.1809 after the company signed an exclusive 5-year in-license agreement with Venture Life Group for Gelclair.

Shares of WiSA Technologies, Inc. ( WISA ) got a boost, surging 261% to $6.32 after the company announced a 5-year WiSA E licensing agreement with an HDTV/PTV brand.

Palisade Bio, Inc. ( PALI ) shares were also up, gaining 37% to $5.67 after the company announced the completion of analysis evaluating ex-vivo bioactivation of PALI-2108.

 

Equities Trading DOWN

 

Barnes & Noble Education, Inc. ( BNED ) shares dropped 68% to $0.2281 after the company announced a short-term shareholder rights plan and a new equity investment.

Shares of Calidi Biotherapeutics, Inc. ( CLDI ) were down 61% to $0.2322 after the company announced the pricing of a $6.1 million public offering.

Pacific Biosciences of California, Inc. ( PACB ) was down, falling 45% to $1.5650 after the company issued weak guidance.

Also Check This Out: Top 4 Tech Stocks You May Want To Dump In April

 

Commodities

 

In commodity news, oil traded up 0.1% to $85.46 while gold traded up 1.2% at $2,411.20.

Silver traded down 1% to $28.435 on Tuesday, while copper fell 1.4% to $4.3175.

 

Euro zone

 

European shares closed lower today. The eurozone's STOXX 600 dipped 1.53%, London's FTSE 100 fell 1.82% while Spain's IBEX 35 Index declined 1.50% The German DAX dipped 1.44% French CAC 40 fell 1.40% while Italy's FTSE MIB Index declined 1.65%.

The Eurozone reported a trade surplus of E23.6 billion in February, up from a year-ago surplus of E3.6 billion. The ZEW Indicator of Economic Sentiment for the Eurozone improved by 10.4 points to a reading of 43.9 in April.

The ZEW Indicator of Economic Sentiment for Germany climbed to 42.9 in April, compared to 31.7 in March, and topping market estimates of 35.9, while German wholesale prices declined by 3% year-over-year in March. The annual inflation rate in Italy accelerated to 1.2% in March from 0.8% in February.

Average weekly earnings, including bonuses, in the UK rose 5.6% year-over-year to GBP 677/week during the three months to February, while unemployment rate increased to 4.2% from 3.9%.

 

Asia Pacific Markets

 

Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 1.94%, Hong Kong's Hang Seng Index dropping 2.12%, China's Shanghai Composite falling 1.65% and India's S&P BSE Sensex dipping 0.62%.

Chinese retail sales climbed by 3.1% year-over-year in March compared to a 5.5% gain in the earlier period, while Chinese economy expanded by 1.6% in the first quarter versus a revised 1.2% gain in the prior quarter. China's industrial production surged by 4.5% year-over-year in March.

 

Economics

 

U.S. building permits declined by 4.3% to an annual rate of 1.458 million in March, compared to a 2.3% increase in February.

Housing starts in the U.S. dipped 14.7% month-over-month to an annual rate of 1.321 million in March versus revised 1.549 million level in the prior month.

Industrial production in the U.S. increased by 0.4% from the prior month in March versus a revised 0.4% rise in the prior month.

Now Read This: Super Micro Computer To Rally Around 70%? Here Are 10 Top Analyst Forecasts For Tuesday

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