US Stocks Edge Lower; Consumer Price Index Increases 0.4% For September

U.S. stocks traded slightly lower this morning, following the release of CPI data on Thursday.

Following the market opening Thursday, the Dow traded down 0.05% to 33,789.59 while the NASDAQ fell 0.17% to 13,635.87. The S&P 500 also fell, dropping, 0.06% to 4,374.40.

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Leading and Lagging Sectors

Energy shares surged by 0.8% on Thursday.

In trading on Thursday, consumer staples shares fell by 0.5%.

Top Headline

The U.S. inflation rate came in steady at 3.7% for September, compared to market estimates of 3.6%. The annual core consumer price inflation rate eased to 4.1% in September from 4.3% in the previous month.

Equities Trading UP

Secoo Holding Limited SECO shares shot up 562% to $2.12 after gaining around 12% on Wednesday.

Shares of OpGen, Inc. OPGN got a boost, shooting 394% to $1.66 following two SEC filings from the precision medicine company. The company has received an advanced payment of €750,000 related to the sale of certain Unyvero A50 systems by Curetis to a strategic partner. OpGen also announced a Preferred Stock Purchase Agreement. It signed an agreement with a certain investor to acquire 1,000 shares priced at $1,000 each, with gross proceeds of $1 million.

Versus Systems Inc. VS shares were also up, gaining 188% to $0.6211 after gaining around 7% on Wednesday.

Equities Trading DOWN

RVL Pharmaceuticals plc RVLP shares dropped 45% to $0.0869. RVL Pharmaceuticals said certain of its U.S. operating subsidiaries, have agreed with their secured lenders, Athyrium Capital Management, and other key stakeholders, to effectuate a change of control transaction through prepackaged bankruptcy cases.

Shares of Tempest Therapeutics, Inc. TPST were down 38% to $6.07. Tempest Therapeutics shares jumped 2,879% on Wednesday, the company released new data demonstrating superiority of TPST-1120 arm across multiple study endpoints in first-line hepatocellular carcinoma study.

T2 Biosystems, Inc. TTOO was down, falling 37% to $0.1955. T2 Biosystems announced a 1-for-100 reverse stock split, effective today.

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Commodities

In commodity news, oil traded up 1.6% to $84.82 while gold traded up 0.3% at $1,893.00.

Silver traded up 0.4% to $22.225 on Thursday while copper fell 0.1% to $3.6095.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.7% London’s FTSE 100 rose 0.8% while Spain’s IBEX 35 Index rose 0.7% The German DAX rose 0.6% French CAC 40 climbed 0.5%, while Italy’s FTSE MIB Index gained 1%.

The British economy expanded by 0.2% month-over-month in August following a revised 0.6% contraction in the previous month. The UK’s trade deficit increased to £3.415 billion in August from £1.418 billion in the prior month as exports fell to a 14-month low. Industrial production in the UK fell 0.7% month-over-month in August.

Asia Pacific Markets

Asian markets closed mostly higher on Thursday, with Japan’s Nikkei 225 gaining 1.75%, China’s Shanghai Composite Index gaining 0.94% and Hong Kong’s Hang Seng Index gaining 1.93%. India’s S&P BSE Sensex, meanwhile, slipped 0.1%.

Producer prices in Japan increased by 2.0% year-over-year in September versus a revised 3.3% increase in August. Japan's core machinery orders declined 0.5% month-over-month in August following a 1.1% drop in the previous month.

Economics

U.S. initial jobless claims came in unchanged from the previous week at 209,000 in the week ended Oct. 7, compared to market expectations of 210,000.

The U.S. inflation rate came in steady at 3.7% for September, compared to market estimates of 3.6%. The annual core consumer price inflation rate eased to 4.1% in September from 4.3% in the previous month.

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