U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 100 points on Wednesday.
The Dow traded down 0.28% to 48,229.87 while the NASDAQ slipped 0.26% to 23,359.33. The S&P 500 also fell, dropping, 0.26% to 6,878.07.
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Leading and Lagging Sectors
Utilities shares slipped by just 0.2% on Wednesday.
In trading on Wednesday, real estate stocks dipped by 0.8%.
Top Headline
U.S. crude oil inventories, excluding the Strategic Petroleum Reserve, dipped by 1.934 million barrels in the week ending Dec. 26, recording the largest weekly decline since mid-November and compared to market estimates of a 0.9 million-barrel fall.
Equities Trading UP
- Anghami Inc. (NASDAQ:ANGH) shares shot up 50% to $3.7306 after the company reported a year-over-year increase in H1 results.
- Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) got a boost, surging 32% to $9.28 after the company announced it received FDA approval of NEREUS for the prevention of vomiting Induced by motion.
- Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares were also up, gaining 102% to $8.27 after the company announced a strategic manufacturing partnership with Syrma Johari MedTech, to support and scale the production of its Intelligent Fingerprinting Drug Screening Reader.
Equities Trading DOWN
- Corcept Therapeutics Incorporated (NASDAQ:CORT) shares dropped 52% to $34.04 after the company announced it received a Complete Response Letter for Relacorilant from the FDA.
- Shares of FuelCell Energy, Inc (NASDAQ:FCEL) were down 10% to $7.18 after the company filed for an amended common stock offering.
- SMX (Security Matters) Public Limited Company (NASDAQ:SMX) was down, falling 37% to $32.30.
Commodities
In commodity news, oil traded up 0.1% to $58.02 while gold traded down 0.8% at $4,351.00.
Silver traded down 7.3% to $72.255 on Wednesday, while copper fell 1.9% to $5.6710.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.14%, while Spain’s IBEX 35 Index fell 0.27%. London’s FTSE 100 fell 0.09%, and France’s CAC 40 fell 0.23% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Hong Kong’s Hang Seng Index falling 0.87%, China’s Shanghai Composite gaining 0.09% and India’s BSE Sensex gaining 0.64%.
Economics
- U.S. initial jobless claims declined by 16,000 to 199,000 in the week ending Dec. 27, compared to market estimates of 220,000.
- U.S. crude oil inventories, excluding the Strategic Petroleum Reserve, dipped by 1.934 million barrels in the week ending Dec. 26, recording the largest weekly decline since mid-November and compared to market estimates of a 0.9 million-barrel fall.
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