Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 200 points on Wednesday.
Following the market opening, the Dow traded down 0.26% to 37,264.12 while the NASDAQ fell 1.54% to 14,714.00. The S&P 500 also fell, dropping, 0.81% to 4,727.51.
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Leading and Lagging Sectors
Utilities shares rose by 0.1% on Wednesday.
In trading on Wednesday, communication services shares fell by 1.6%.
Top Headline
Retail sales in the US rose 0.6% month-over-month in December compared to a 0.3% increase in November.
Equities Trading UP
Airspan Networks Holdings Inc. (NASDAQ: MIMO) shares shot up 300% to $0.3072. Airspan announced a partnership with GCT Semiconductor to develop an RF module.
Shares of LQR House Inc. (NASDAQ: LQR) got a boost, surging 23% to $2.4900 after dipping 45% on Tuesday. LQR House announced an increase of its share buyback program to $5 million.
Atreca, Inc. (NASDAQ: BCEL) shares were also up, gaining 22% to $0.3106.
Equities Trading DOWN
TuSimple Holdings Inc. (NASDAQ: TSP) shares dropped 53% to $0.3303. TuSimple announced intention to delist from the Nasdaq.
Shares of Phunware, Inc. (NASDAQ: PHUN) were down 44% to $0.2323 after the company announced pricing of a $7 million registered direct offering price at-the-market under Nasdaq rules.
DatChat, Inc. (NASDAQ: DATS) was down, falling 39% to $1.93 after the company announced pricing of a $1.8 million underwritten public offering of common stock.
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Commodities
In commodity news, oil traded down 1.9% to $71.03 while gold traded down 0.1% at $2,029.10.
Silver traded down 0.6% to $22.950 on Wednesday while copper fell 0.3% to $3.7560.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.3%, London’s FTSE 100 fell 1.7% while Spain’s IBEX 35 Index dipped 1.3% The German DAX fell 1% French CAC 40 fell 1.2% while Italy’s FTSE MIB Index fell 1.1%.
The inflation rate in the Euro Area rose to 2.9% in December versus 2.4% in November. Annual inflation rate in the UK increased to 4% in December from 3.9% in November, while factory gate prices of goods produced by manufacturers rose 0.1% year-over-year in December following a revised 0.1% decline in November.
Asia Pacific Markets
Asian markets closed lower on Wednesday, with Japan’s Nikkei 225 falling 0.40%, Hong Kong’s Hang Seng Index falling 3.71% and China’s Shanghai Composite Index gaining 2.09%. India’s S&P BSE Sensex, meanwhile, fell 2.23%.
Chinese surveyed urban unemployment rate rose to 5.1% in December from 5.0% in the prior three months, while retail sales rose by 7.4% year-over-year in December. The Chinese economy expanded by a seasonally adjusted 1.0% in the fourth quarter, while industrial production rose by 6.8% year-over-year in December.
Economics
Retail sales in the US rose 0.6% month-over-month in December compared to a 0.3% increase in November.
US import prices came in unchanged in December, while export prices declined 0.9% month-over-month in December.
Total business inventories declined by 0.1% month-over-month in November.
The NAHB/Wells Fargo Housing Market Index climbed to 44 in January from 37 in the prior month.
Industrial production rose by 0.1% from the prior month in December.
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