U.S. stocks traded lower toward the end of trading, with the Dow Jones dropping 100 points on Wednesday.
The Dow traded down 0.29% to 35,192.75 while the NASDAQ fell 0.69% to 14,518.48. The S&P also fell, dropping, 0.56% to 4,605.80.
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Leading and Lagging Sectors
Energy shares jumped by 0.7% on Wednesday. Meanwhile, top gainers in the sector included Indonesia Energy Corporation Limited INDO, up 14% and Nordic American Tankers Limited NAT up 11%.
In trading on Wednesday, consumer discretionary shares fell 1%.
The US economy grew an annualized 6.9% on quarter during the last three months of 2021, down 0.1% point versus the second estimate.
Equities Trading UP
Direct Digital Holdings, Inc. DRCT shares shot up 83% to $4.7123 after the company reported a year over year increase in Q4 sales results and issued Q1 sales guidance above analyst estimates.
Shares of Adagio Therapeutics, Inc. ADGI got a boost, shooting 36% to $5.22. Adagio Therapeutics’ Phase 2/3 trials evaluating 300 mg adintrevimab (ADG20) as pre-and-post-exposure prophylaxis (EVADE) and treatment (STAMP) for COVID-19 have met its primary endpoints.
Vir Biotechnology, Inc. VIR shares were also up, gaining 18% to $26.54 after it was announced the company will join the S&P Smallcap 600.
Equities Trading DOWN
Revelation Biosciences, Inc. REVB shares tumbled 41% to $1.26 after the company reported results from interim statistical analysis for Phase 2b viral challenge study (RVL-VRL01) of intranasal REVTx-99a for the preventive treatment of H3N2 influenza (influenza A) in healthy humans. Efficacy data demonstrated that REVTx-99a did not meet its primary endpoint, the area under the curve (AUC) of viral load by quantitative RT-PCR from nasopharyngeal swabs.
Shares of Calithera Biosciences, Inc. CALA were down 30% to $0.4189 as the company priced its $10.0 million underwritten public offering of common stock and warrants to purchase common stock.
Stronghold Digital Mining, Inc.. SDIG was down, falling 31% to $7.11 after the company reported worse-than-expected Q4 sales results.
In commodity news, oil traded up 2.8% to $107.15, while gold traded up 1% to $1,937.50.
Silver traded up 1.3% Wednesday to $25.045 while copper rose 0.2% to $4.7395.
European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.41%, London’s FTSE 100 rose 0.55%, while Spain’s IBEX 35 Index fell 0.74%. The German DAX dropped 1.45%, French CAC 40 fell 0.74% and Italy’s FTSE MIB Index fell 0.03%.
Private businesses in the US hired 455,000 workers in March.
The US economy grew an annualized 6.9% on quarter during the last three months of 2021.
Corporate profits increased 0.2% to a new record high of $2.53 trillion in the final quarter of 2021.
US crude oil inventories dropped by 3.449 million barrels in the week ended March 25th, the Energy Information Administration said.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 81,686,620 cases with around 1,005,050 deaths. India confirmed a total of at least 43,023,210 cases and 521,130 deaths, while Brazil reported over 29,882,390 COVID-19 cases with 659,290 deaths. In total, there were at least 485,724,930 cases of COVID-19 worldwide with more than 6,158,100 deaths.
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