Dow Surges 150 Points, US Current Account Deficit Widens In Q3

U.S. stocks traded higher this morning, with the Dow Jones index gaining around 150 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.36% to 43,607.95 while the NASDAQ rose 0.07% to 20,123.16. The S&P 500 also rose, gaining, 0.12% to 6,058.13.

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Leading and Lagging Sectors

Information technology shares rose by 0.5% on Wednesday.

In trading on Wednesday, energy shares fell by 0.5%.

Top Headline

The U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period and versus market estimates of a $284 billion gap.

Equities Trading UP
                       

• Polyrizon Ltd. (PLRZ) shares shot up 273% to $3.9199 after the company announced it secured a GMP partnership with Eurofins CDO Amatsiaquitaine.
• Shares of Snow Lake Resources Ltd. (LITM) got a boost, surging 200% to $0.5353.
• Nvni Group Limited (NVNI) shares were also up, gaining 214% to $1.32.

Equities Trading DOWN

• TransCode Therapeutics, Inc. (RNAZ) shares dropped 49% to $3.24. TransCode Therapeutics (RNAZ) announced Safety Review Committee approval of opening third cohort and preliminary results from first cohort in Phase 1 TTX-MC138 clinical trial.
• Shares of XCHG Limited (XCH) were down 48% to $12.21.
• Corvus Pharmaceuticals, Inc. (CRVS) was down, falling 46% to $4.0098. The company announced interim data from the randomized, double-blind, placebo-controlled Phase 1 clinical trial evaluating soquelitinib in patients with moderate to severe atopic dermatitis.

Commodities

In commodity news, oil traded up 1.2% to $70.93 while gold traded down 0.3% at $2,653.10.

Silver traded down 0.7% to $30.700 on Wednesday, while copper rose 0.3% to $4.1580.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 rose 0.2%, Germany's DAX rose 0.2% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index gained 0.6%, while London's FTSE 100 rose 0.1%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.72%, Hong Kong's Hang Seng Index gaining 0.83%, China's Shanghai Composite Index gaining 0.62% and India's BSE Sensex falling 0.62%.

Economics

• U.S. mortgage applications fell by 0.7% from the previous week during the week ending Dec. 13, compared to the 5.4% gain in the previous week.
• The U.S. recorded a current account deficit of $310.9 billion in the third quarter compared to the revised gap of $275.0 billion in the previous period and versus market estimates of a $284 billion gap.
• U.S. housing starts fell 1.8% to an annualized rate of 1.289 million units in November from 1.312 million in October.
• U.S. building permits in gained by 6.1% to an annualized rate of 1.505 million in November.

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