📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Crude Oil Moves Higher; Vera Bradley Shares Slide

Published 12/06/2024, 19:38
Updated 12/06/2024, 20:40
© Reuters.  Crude Oil Moves Higher; Vera Bradley Shares Slide
US500
-
GC
-
HG
-
SI
-
CL
-
IXIC
-
VRA
-

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

U.S. stocks traded higher toward the end of trading, with the S&P 500 surging around 1% on Wednesday.

The Dow traded up 0.06% to 38,771.21 while the NASDAQ rose 1.77% to 17,651.35. The S&P 500 also rose, gaining, 1.03% to 5,430.69.

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

Leading and Lagging Sectors

Information technology shares jumped by 3% on Wednesday.

In trading on Wednesday, consumer staples shares fell by 1%.

Top Headline

The EIA said stocks of crude oil in the U.S. climbed by 3.730 million barrels in the week ending June 7, versus market expectations for a 1.55 million barrels decline.

Equities Trading UP

  • DDC Enterprise Limited (NYSE:DDC) shares shot up 241% to $1.75. DDC Enterprise said it has acquired beloved Asian food brand, Omsom.
  • Shares of Beamr Imaging Ltd. (NASDAQ:BMR) got a boost, surging 27% to $5.57 after the company announced that its Beamr Cloud solution has achieved Powered by Expertise and is now available in the Oracle Cloud Marketplace.
  • Avidity Biosciences, Inc. (NASDAQ:RNA) shares were also up, gaining 29% to $37.19 after the company announced initial AOC 1020 data from the Phase 1/2 FORTITUDE trial demonstrating reductions of greater than 50% in DUX4 regulated genes, trends of functional improvement, and favorable safety and tolerability in people living with facioscapulohumeral muscular dystrophy.
Equities Trading DOWN

  • Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares dropped 48% to $1.10. Tonix Pharmaceuticals priced its $4 million public offering of 3,753,558 shares of common stock at $1.065 per share.
  • Shares of ThermoGenesis Holdings, Inc. (NASDAQ:THMO) were down 25% to $0.4021 after the Nasdaq denied the company's request for continued listing and the stock will be suspended at the opening of business on June 17.
  • Vera Bradley, Inc. (NASDAQ:VRA) was down, falling 17% to $6.41 following a first-quarter revenue miss and weak FY25 guidance.
Also Check This Out: Uber To Rally Around 38%? Here Are 10 Top Analyst Forecasts For Wednesday

Commodities

In commodity news, oil traded up 0.7% to $78.48 while gold traded up 0.8% at $2,345.60.

Silver traded up 2.1% to $29.85 on Wednesday, while copper rose 0.8% to $4.5450.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 gained 1.08%, Germany's DAX gained 1.42% and France's CAC 40 rose 0.97%. Spain's IBEX 35 Index rose 0.63%, while London's FTSE 100 rose 0.83%.

German consumer price inflation increased to 2.4% in May from a three-year low of 2.2% in the prior month.

The UK’s trade deficit increased to around two-year high of £6.75 billion in April, while British economy stalled during April following a 0.4% expansion in March. Industrial production in the UK fell 0.9% month-over-month for April.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei falling 0.66%, Hong Kong's Hang Seng Index falling 1.31%, China's Shanghai Composite Index gaining 0.31% and India's S&P BSE Sensex gaining 0.20%.

Total passenger vehicle sales in India rose 4.3% year-over-year to 300,795 in May following a 1.2% gain in the prior month. Producer prices in Japan rose 2.4% year-over-year in May compared to a revised 1.1% increase in April.

Chinese annual inflation rate came in at 0.3% in May versus market estimates of 0.4%, while producer prices fell by 1.4% year-over-year in May.

Economics

  • The annual CPI inflation rate fell from 3.4% to 3.3% in May, below than the median economist projection of 3.4%. According to Econoday, the economist consensus ranged from 3.3% to 3.5%.
  • On a monthly basis, the overall CPI inflation stalled, decelerating from the prior 0.3% growth and coming in below expectations of 0.1%.
  • The EIA said stocks of crude oil in the U.S. climbed by 3.730 million barrels in the week ending June 7, versus market expectations for a 1.55 million barrels decline.
Now Read This: Top 2 Utilities Stocks That May Rocket Higher In June

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.