Dow Surges 250 Points; US Housing Starts Tumble In August

U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 250 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.56% to 46,011.86 while the NASDAQ fell 0.36% to 22,252.63. The S&P 500 also fell, dropping, 0.04% to 6,604.37.

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Leading and Lagging Sectors

Consumer staples shares jumped by 1.1% on Wednesday.

In trading on Wednesday, information technology stocks fell by 0.7%.

Top Headline

U.S. housing starts dipped 8.5% month-over-month to an annual rate of 1.307 million units in August, following a revised 1.429 million in the previous month and down from market estimates of 1.37 million.

Building permits declined by 3.7% to an annualized rate of 1.312 million in August.

Equities Trading UP
           

• SciSparc Ltd. (SPRC) shares shot up 197% to $5.42 after Automax Motors filed a motion to Jerusalem District Court in connection with its merger with the company.
• Shares of Visionary Holdings Inc. (GV) got a boost, surging 92% to $3.20 after the company announced that it has entered into a strategic partnership with Jiangsu Yike Regenerative Medicine, a leading regenerative medical research institute in China.
• TNL Mediagene (TNMG) shares were also up, gaining 55% to $0.5061. TNL Mediagene (TNMG) announced a major strategic initiative to integrate digital assets into its business model and to implement a digital asset treasury strategy.

Equities Trading DOWN

• Turbo Energy, S.A. (TURB) shares dropped 27% to $8.99. Turbo Energy (TURB) shares surged 359% on Tuesday after the company was selected for a $53 million contract to deploy energy storage projects in Spain with total capacity of 366 MWh.
• Shares of Boxlight Corporation (BOXL) were down 27% to $1.83. Boxlight (BOXL) shares jumped over 45% on Tuesday after the company began shipping Google EDLA-certified Clevertouch Pro Series to North American schools.
• ChowChow Cloud International (CHOW) was down, falling 28% to $9.13 after jumping 215% on Tuesday.

Commodities

In commodity news, oil traded down 0.5% to $64.23 while gold traded down 0.5% at $3,706.80.

Silver traded down 1.9% to $42.105 on Wednesday, while copper fell 1.5% to $4.6215.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 rose 0.3%, Germany's DAX 40 gained 0.1% and France's CAC 40 fell 0.2% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei falling 0.25%, Hong Kong's Hang Seng surging 1.78%, China's Shanghai Composite rising 0.37% and India's BSE Sensex gaining 0.38%.

Economics

• U.S. housing starts dipped 8.5% month-over-month to an annual rate of 1.307 million units in August, following a revised 1.429 million in the previous month and down from market estimates of 1.37 million.
• Building permits declined by 3.7% to an annualized rate of 1.312 million in August.

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