🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Dow Falls Over 100 Points; US Durable Goods Orders Increase In August

Published 27/09/2023, 17:00
© Reuters.  Dow Falls Over 100 Points; US Durable Goods Orders Increase In August
EUR/USD
-
UK100
-
STOXX50
-
IT40
-
USD/GBP
-
DE30
-
F40
-
FXXPc1
-

Benzinga - by Lisa Levin, Benzinga Editor.

U.S. stocks traded lower midway through trading, with the Dow Jones falling more than 100 points on Wednesday.

The Dow traded down 0.40% to 33,484.19 while the NASDAQ fell 0.12% to 13,047.47. The S&P 500 also fell, dropping, 0.21% to 4,264.72.

Check This Out: Johnson Controls International To Rally Over 27%? Here Are 10 Other Analyst Forecasts For Wednesday

Leading and Lagging Sectors

Energy shares rose by 1.9% on Wednesday.

In trading on Wednesday, utilities shares fell by 0.9%.

Top Headline

U.S. durable goods orders increased 0.2% month-over-month in August versus a revised 5.6% decline in July, and beating market expectations for a 0.5% fall.

Equities Trading UP

ShiftPixy, Inc. (NASDAQ: PIXY) shares shot up 162% to $1.1394. The company announced the effective date for its reverse stock split after the close. Shareholders voted to approve a reverse split on Aug. 21. After the closing bell on Tuesday, ShiftPixy said the one-for-twenty-four reverse split will take effect on Sept. 30.

Shares of SciSparc Ltd. (NASDAQ: SPRC) got a boost, shooting 93% to $0.3008. The company reported its previously announced 1-for-26 reverse share split is expected to be implemented after market close today.

MillerKnoll, Inc. (NASDAQ: MLKN) shares were also up, gaining 27% to $24.25 after the company announced better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.

Equities Trading DOWN

mCloud Technologies Corp. (NASDAQ: MCLD) shares dropped 51% to $0.1414 after the company said it would not meet the listing requirements of the Nasdaq Stock Market LLC.

Shares of Sharps Technology, Inc. (NASDAQ: STSS) were down 32% to $0.56 after the company reported a $5.6 million registered direct and private placement priced at the market under Nasdaq rules.

Know Labs, Inc. (NYSE: KNW) was down, falling 32% to $0.24 after the company announced pricing of a $7 million public offering of common stock.

Also Check This Out: Top 4 Real Estate Stocks That Are Set To Fly In September

Commodities

In commodity news, oil traded up 2.9% to $93.00 while gold traded down 0.9% at $1,903.30.

Silver traded down 1.5% to $22.85 on Wednesday while copper fell 0.2% to $3.6410.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.14% London’s FTSE 100 fell 0.44% while Spain’s IBEX 35 Index fell 0.37% The German DAX fell 0.12% French CAC 40 fell 0.07%, while Italy’s FTSE MIB Index fell 0.24%.

Bank lending to households in the Eurozone increased by 1% year-over-year for the month of August. The consumer confidence in France declined to 83 in September from 85 in August, while Germany’s GfK Consumer Climate Indicator fell to -26.5 heading into October compared to a revised reading of -25.6 in September.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 gaining 0.18%, Hong Kong’s Hang Seng Index rising 0.83% and China’s Shanghai Composite Index gaining 0.16%. India’s S&P BSE Sensex, meanwhile, rose 0.3%.

The index of leading economic indicators in Japan was revised higher to 108.2 in July versus a preliminary reading of 107.6, while index of coincident economic indicators was revised lower to 114.2 in July compared to a flash reading of 114.5. Profits earned by Chinese industrial firms dipped by 11.7% year-over-year to CNY 4,655.82 billion during the first eight months of the year.

Economics

Mortgage applications in the U.S. fell 1.3% in the week ending Sept. 22, 2023, versus a 5.4% increase in the prior week.

U.S. durable goods orders increased 0.2% month-over-month in August versus a revised 5.6% decline in July, and beating market expectations for a 0.5% fall.

Crude oil inventories in the U.S. declined by 2.17 million barrels in the week ending Sept. 22, versus a 2.13 million decline in the prior period.

Now Read This: Wall Street's Most Accurate Analysts Say Hold These 3 Health Care Stocks With Over 4% Dividend Yields

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,622,500 cases with around 1,176,310 deaths. India confirmed a total of at least 44,998,600 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,817,420 cases of COVID-19 worldwide with more than 6,920,330 deaths.

© 2023 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.