Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 300 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.84% to 39,072.22 while the NASDAQ rose 0.87% to 17,494.72. The S&P 500 also rose, gaining, 0.84% to 5,420.33.
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Leading and Lagging Sectors
Real estate shares jumped by 2.1% on Wednesday.
In trading on Wednesday, consumer staples shares rose by just 0.1%.
Top Headline
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%.
Equities Trading UP
- Golden Heaven Group Holdings Ltd. (NASDAQ:GDHG) shares shot up 51% to $0.2700.
- Shares of Beamr Imaging Ltd. (NASDAQ:BMR) got a boost, surging 40% to $6.19 after the company announced that its Beamr Cloud solution has achieved Powered by Expertise and is now available in the Oracle Cloud Marketplace.
- WANG & LEE GROUP, Inc. (NASDAQ:WLGS) shares were also up, gaining 29% to $0.78 after surging 16% on Tuesday.
- Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares dropped 49% to $1.09. 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 39% to $0.3290 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.
- TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) was down, falling 28% to $0.78.
Commodities
In commodity news, oil traded up 1.1% to $78.79 while gold traded up 0.2% at $2,330.10.
Silver traded up 1.9% to $29.495 on Wednesday, while copper rose 0.1% to $4.5150.
Euro zone
European shares were lower today. The eurozone's STOXX 600 gained 0.5%, Germany's DAX gained 0.6% and France's CAC 40 rose 0.5%. Spain's IBEX 35 Index rose 0.4%, while London's FTSE 100 rose 0.7%.
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%.
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