Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded mostly lower this morning, with the Dow Jones index falling around 150 points on Friday.
Following the market opening Friday, the Dow traded down 0.43% to 38,607.11 while the NASDAQ rose 0.01% to 15,907.68. The S&P 500 also fell, dropping, 0.16% to 5,021.71.
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Leading and Lagging Sectors
Information technology shares rose by 0.6% on Friday.
In trading on Friday, real estate shares fell by 1.3%.
Top Headline
U.S. producer prices for final demand rose 0.3% month-over-month in January, recording the biggest rise in five months, compared to a 0.1% fall in the previous month. However, analysts were expecting a 0.1% increase in producer prices.
Equities Trading UP
Gaxos.ai Inc. (NASDAQ: GXAI) shares shot up 398% to $1.29. Gaxos Gaming announced plans to launch an AI solution for game developers and studios.
Shares of Pop Culture Group Co., Ltd (NASDAQ: CPOP) got a boost, surging 286% to $4.9460.
Fusion Fuel Green PLC (NASDAQ: HTOO) shares were also up, gaining 207% to $3.69. The company said it had received notification from the European Commission that its HEVO-Portugal project was among 33 selected for approval under the Important Projects of Common European Interest (“IPCEI”) Hy2Infra program.
Equities Trading DOWN
China Natural Resources, Inc. (NASDAQ: CHNR) shares dropped 39% to $2.13. China Natural Resources announced a registered direct placement of $3.27 million of 1,487,870 common shares and private placement warrants at a price of $2.20 per unit.
Shares of Hepion Pharmaceuticals, Inc. (NASDAQ: TVGN) were down 21% to $7.90 after surging 119% on Thursday. Tevogen Bio announced a $8 million equity investment.
Dunxin Financial Holdings Limited (NYSE: DXF) was down, falling 21% to $0.3821.
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Commodities
In commodity news, oil traded down 0.7% to $77.49 while gold traded up 0.2% at $2,017.90.
Silver traded up 0.3% to $23.02 on Friday while copper rose 1.4% to $3.81.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, London’s FTSE 100 rose 1.3% while Spain’s IBEX 35 Index fell 0.1% The German DAX rose 0.6% French CAC 40 rose 0.5% while Italy’s FTSE MIB Index rose 0.3%.
The annual inflation rate in France eased to 3.1% in January from 3.7% in the prior month, whiel German wholesale prices declined by 2.7% year-over-year in January. Retail sales volumes in the UK rose by 3.4% month-over-month in January.
Asia Pacific Markets
Asian markets closed higher on Friday, with Japan’s Nikkei 225 gaining 0.86%, Hong Kong’s Hang Seng Index rising 2.48% and India’s S&P BSE Sensex gaining 0.6%.
Singapore's non-oil domestic exports jumped 16.8% year-over-year in January, topping market estimates of a 5.4% rise.
Economics
U.S. producer prices for final demand rose 0.3% month-over-month in January, recording the biggest rise in five months, compared to a 0.1% fall in the previous month. However, analysts were expecting a 0.1% increase in producer prices.
U.S. building permits fell by 1.5% to an annual rate of 1.470 million in January.
Housing starts in the U.S. dipped 14.8% month-over-month to an annual rate of 1.331 million in January.
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