S&P 500 Rises 0.5%; Crude Oil Falls Sharply

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

The Dow traded up 0.40% to 30,829.94 while the NASDAQ rose 0.31% to 11,460.00. The S&P 500 also rose, gaining, 0.50% to 3,875.30.

Also check this: Market Volatility Increases Sharply Ahead Of Fed's Rate Decision


Leading and Lagging Sectors


Industrials shares rose by 1% on Wednesday. Meanwhile, top gainers in the sector included FREYR Battery FREY, up 17% and FTAI Infrastructure Inc. FIP up 10%.


In trading on Wednesday, communication services shares fell by 0.3%.


Top Headline


US crude oil inventories climbed by 1.142 million barrels in the week ended September 16th, versus market estimates of a 2.161-million-barrel rise, the Energy Information Administration said.


Equities Trading UP

 

  • Stabilis Solutions, Inc. SLNG shares shot up 100% to $10.32 after the company announced it has received authorization from the U.S. Department of Energy to export domestically produced liquefied natural gas to all free trade and non-free trade countries.
  • Shares of ECMOHO Limited MOHO got a boost, shooting 60% to $0.1859. ECMOHO announced that it has received delisting notice from the Nasdaq. The company said it has elected to not appeal Nasdaq Listing Qualifications Department's determination.
  • Evaxion Biotech A/S EVAX shares were also up, gaining 51% to $3.09 as the company reached an important milestone announcing that it had enrolled its first patient in the global phase 2b clinical trial of EVX-01, its personalized cancer therapy.

 

Equities Trading DOWN

  • Sesen Bio, Inc. SESN shares tumbled 39% to $0.4101. Sesen Bio and privately held Carisma Therapeutics Inc have entered into a merger agreement to combine the companies in an all-stock transaction.
  • Shares of ShiftPixy, Inc. PIXY were down 36% to $13.87 after the company announced pricing of a $5 million private placement.
  • Adamis Pharmaceuticals Corporation ADMP was down, falling 41% to $0.2138 as the company announced the results from the third planned interim analysis of the Phase 2/3 clinical trial of Tempol in high-risk subjects with early COVID-19 infection. The trial did not achieve its primary endpoint, as measured by comparing the rate of sustained clinical resolution of symptoms of COVID-19 at day 14 of Tempol versus placebo.


Also check out: Fear Among US Investors Is Increasing, Here's Why


Commodities

In commodity news, oil traded down 2.1% to $82.70, while gold traded up 0.3% at $1,675.50.


Silver traded up 1.3% to $19.435 on Wednesday while copper fell 1.2% to $3.46.


Euro zone


European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.78%, London’s FTSE 100 rose 0.52% while Spain’s IBEX 35 Index fell 0.15%. The German DAX gained 0.55%, French CAC 40 rose 0.7% and Italy’s FTSE MIB Index gained 0.93%.


Public sector net borrowing, excluding public sector banks, in the UK came in at £11.8 billion for August.

 

Economics

 

  • Existing home sales in the US fell 0.4% to an annual rate of 4.8 million in August, recording the lowest reading since May 2020, and compared to a revised 5.7% decline in the previous month.
  • US crude oil inventories climbed by 1.142 million barrels in the week ended September 16th, versus market estimates of a 2.161-million-barrel rise, the Energy Information Administration said.
  • The Federal Reserve will announce its policy decision at 2:00 p.m. ET. The country’s central bank is widely expected to raise interest rates by 75 bps at the meeting.
  • Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.

Check out this: Bitcoin Declines Below $19,000; Here Are The Top Crypto Movers For Wednesday


COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 97,594,680 cases with around 1,079,200 deaths. India confirmed a total of at least 44,547,590 cases and 528,400 deaths, while France reported over 34,973,410 COVID-19 cases with 154,790 deaths. In total, there were at least 618,209,000 cases of COVID-19 worldwide with more than 6,533,620 deaths.

 

Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...