Dow Falls 50 Points; US Initial Jobless Claims Decline

U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 50 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.09% to 48,322.35 while the NASDAQ slipped 0.01% to 23,417.48. The S&P 500 also fell, dropping, 0.04% to 6,893.58.

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Leading and Lagging Sectors

Information technology shares rose by 0.2% on Wednesday.

In trading on Wednesday, real estate stocks fell by 0.3%.

Top Headline

U.S. initial jobless claims declined by 16,000 to 199,000 in the week ending Dec. 27, compared to market estimates of 220,000.

Equities Trading UP
           

• Anghami Inc. (ANGH) shares shot up 54% to $3.84 after the company reported a year-over-year increase in H1 results.
• Shares of Northann Corp. (NCL) got a boost, surging 72% to $0.3332.
• Intelligent Bio Solutions Inc. (INBS) shares were also up, gaining 56% to $6.38 after the company announced a strategic manufacturing partnership with Syrma Johari MedTech, to support and scale the production of its Intelligent Fingerprinting Drug Screening Reader.

Equities Trading DOWN

• Corcept Therapeutics Incorporated (CORT) shares dropped 47% to $37.40 after the company announced it received a Complete Response Letter for Relacorilant from the FDA.
• Shares of Delixy Holdings Limited (DLXY) were down 29% to $1.0001.
• SMX (Security Matters) (SMX) Public Limited Company was down, falling 22% to $40.00.

Commodities

In commodity news, oil traded up 0.5% to $58.24 while gold traded down 0.7% at $4,355.20.

Silver traded down 7.5% to $72.045 on Wednesday, while copper fell 1.8% to $5.6805.

Euro zone

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

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Hong Kong's Hang Seng Index falling 0.87%, China's Shanghai Composite gaining 0.09% and India's BSE Sensex gaining 0.64%.

Economics

U.S. initial jobless claims declined by 16,000 to 199,000 in the week ending Dec. 27, compared to market estimates of 220,000.

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