Dow Dips 100 Points; US Export Prices Rise 1.3% In August

U.S. stocks traded lower this morning, with the Dow Jones falling around 100 points on Friday.

Following the market opening Friday, the Dow traded down 0.31% to 34,799.50 while the NASDAQ fell 1.09% to 13,774.36. The S&P 500, also fell, dropping, 0.70% to 4,473.72.

Check This Out: Top 5 Tech And Telecom Stocks You May Want To Dump In Q3

 

Leading and Lagging Sectors

Utilities shares rose by 0.2% on Friday.

In trading on Friday, consumer discretionary shares fell by 1.5%.

 

Top Headline

Export prices in the U.S. rose by 1.3% month-over-month in August, while import prices increased by 0.5% month-over-month in August.

 

Equities Trading UP

MSP Recovery, Inc. LIFW shares shot up 97% to $0.1099.

Shares of AERWINS Technologies Inc. AWIN got a boost, shooting 46% to $0.1883.

Know Labs, Inc. KNW shares were also up, gaining 30% to $0.5801.

 

Equities Trading DOWN

Axcella Health Inc. AXLA shares dropped 30% to $0.7068. Axcella announced a 1-for-25 reverse stock split effective Sept. 19, 2023.

Shares of Avalo Therapeutics, Inc. AVTX were down 29% to $0.1536. Avalo Therapeutics recently agreed to divest AVTX-800 series.

PTC Therapeutics, Inc. PTCT was down, falling 29% to $26.48 after the company announced the CHMP has given a negative opinion on the conversion of the conditional marketing authorization to full marketing authorization of Translarna for the treatment of nmDMD.

Also Check This Out: Check Out 3 Industrials Stocks With Over 3% Dividend Yields From Wall Street's Most Accurate Analysts

 

Commodities

In commodity news, oil traded up 0.4% to $90.53 while gold traded up 0.3% at $1,938.80.

Silver traded up 1.6% to $23.365 on Friday while copper fell 0.2% to $3.8135.

 

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.4% London’s FTSE 100 gained 0.8% while Spain’s IBEX 35 Index fell 0.2% The German DAX rose 0.6% French CAC 40 climbed 1%, while Italy’s FTSE MIB Index climbed 0.1%.

The Eurozone reported a trade surplus of EUR 6.5 billion in July versus a year-ago gap of EUR 36.3 billion. Hourly labor costs in the Eurozone climbed by 4.5% year-over-year in the second quarter, while wage growth eased to 4.6% year-over-year.

Italy recorded a trade surplus of EUR 6.4 billion in July versus the EUR 0.5 billion deficit in the year-ago period. The annual inflation rate in Italy eased to 5.4% in August from 5.9% in the prior month. The annual inflation rate in France accelerated to 4.9% in August from 4.3% in the previous month.

 

Asia Pacific Markets

Asian markets closed mostly higher on Friday, with Japan’s Nikkei 225 gaining 1.10%, Hong Kong’s Hang Seng Index rising 0.75% and China’s Shanghai Composite Index falling 0.28%. India’s S&P BSE Sensex, meanwhile, rose 0.5%.

China's retail sales climbed by 4.6% year-over-year in August, while industrial production increased by 4.5% year-over-year in August. Average new home prices in China fell by 0.1% year-over-year in August.

 

Economics

The NY Empire State Manufacturing Index rose to 1.9 in September versus -19 in the previous month, beating market estimates of -10.

Export prices in the U.S. rose by 1.3% month-over-month in August, while import prices increased by 0.5% month-over-month in August.

Industrial production in the U.S. rose 0.4% from a month ago in August, above market estimates of a 0.1% growth.

The University of Michigan consumer sentiment declined to 67.7 in September from 69.5 in the prior month.

Now Read This: Over $6M Bet On ModivCare? Check Out These 3 Stocks Insiders Are Buying

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsTrading IdeasMid Morning 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...