Gold Tops $1,900 After US CPI Report, S&P 500 Rises 0.5%

U.S. stocks traded higher toward the end of trading, following the release of inflation data.

The Dow traded up 0.72% to 34,219.27 while the NASDAQ rose 0.63% to 11,000.65. The S&P 500 also rose, gaining, 0.50% to 3,989.56.

Check This Out: Netflix To Rally Around 18%? Here Are 10 Other Analyst Forecasts For Thursday

Leading and Lagging Sectors

Energy shares gained by 2.1% on Thursday. Meanwhile, top gainers in the sector included KLX Energy Services Holdings, Inc. KLXE, up 10%, and NGL Energy Partners LP NGL, up 11%.

In trading on Thursday, consumer staples shares fell by 0.6%.

Top Headline

The Consumer Price Index in the United States fell 0.1% month-over-month in December. The annual inflation rate slowed for a sixth consecutive month to 6.5% in December, recording the lowest level since October 2021.


Equities Trading UP


  • Expion360 Inc. XPON shares shot up 118% to $3.44 after the company introduced AURA POWERCAP 600 and AURA POWERCAP 800, accessories that can transform Expion360 Li-ion batteries into a portable 600-watt or 800-watt powerpack.
  • Shares of Akerna Corp. KERN got a boost, shooting 75% to $1.69 after the company announced the sale of 365 Cannabis for $2.8 million.
  • Holdings, Inc. BBAI shares were also up, gaining 230% to $2.7750 after the company announced it has been awarded a multiple award $900 million Indefinite Delivery/Indefinite Quantity contract by the U.S. Air Force.


Equities Trading DOWN

  • Oramed Pharmaceuticals Inc. ORMP shares tumbled 77% to $2.5101 after the company announced the ORA-D-013-1 trial did not meet its primary endpoint.
  • Shares of KNOT Offshore Partners LP KNOP were down 38% to $6.54 after Alliance Global Partners downgraded the stock from Buy to Sell and announced a $6 price target.
  • Logitech International S.A. LOGI was down, falling 17% to $56.58 after the company reported preliminary Q3 net sales results below guidance and reduced FY23 outlook.


Also Check This Out: 5 Most Expensive Health Care Stocks You Should Worry About


In commodity news, oil traded up 1.8% to $78.82 while gold traded up 1.2% at $1,901.30.

Silver traded up 2.3% to $24.025 on Thursday while copper rose 0.6% to $4.1915.


Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.63%, London’s FTSE 100 rose 0.89% while Spain’s IBEX 35 Index gained 1.17%. The German DAX climbed 0.74%, French CAC 40 climbed 0.74% and Italy’s FTSE MIB Index rose 0.73%.


Asia Pacific Markets

Asian markets closed higher on Thursday, with the Hong Kong’s Hang Seng Index gaining 0.36%, and China’s Shanghai Composite Index gaining 0.05%. Japan’s Nikkei 225 gained 0.01%.

India's industrial production surged 7.1% from a year ago in November, while annual consumer price inflation in India eased to 5.72% in December. Auto sales in China dropped by 8.4% year-over-year to 2.56 million units December. China's annual inflation rate increased to 1.8% in December, while producer prices declined 0.7% year-over-year in December.

The gauge for Japan's service sector sentiment declined by 0.2 points from the previous month to 47.9 in December. Japan reported a current account surplus of JPY 1,803.6 billion in November.




  • The Consumer Price Index in the United States fell 0.1% month-over-month in December. The annual inflation rate slowed for a sixth consecutive month to 6.5% in December, recording the lowest level since October 2021.
  • US initial jobless claims declined by 1,000 to 205,000 in the week ending January 7th, compared to market expectations of 215,000
  • US natural-gas supplies climbed 11 billion cubic feet last week, the EIA said.


Now Read This: HEICO, Dave & Buster's Entertainment And This Healthcare Stock Insiders Are Buying

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 103,308,870 cases with around 1,123,460 deaths. India confirmed a total of at least 44,681,690 cases and 530,720 deaths, while France reported over 39,428,770 COVID-19 cases with 163,190 deaths. In total, there were at least 670,107,660 cases of COVID-19 worldwide with more than 6,722,290 deaths.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsComputer Storage & PeripheralsInformation TechnologyMid-Afternoon 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!