Banking

Mid-Afternoon Market Update: Dow Jumps 250 Points; GreenSky Shares Spike Higher

Toward the end of trading Wednesday, the Dow traded up 0.72% to 34,827.73 while the NASDAQ rose 0.58% to 15,125.38. The S&P also rose, gaining 0.82% to 4,479.33.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 41,367,770 cases with around 663,960 deaths. India confirmed a total of at least 33,316,750 cases and 443,490 deaths, while Brazil reported over 21,019,830 COVID-19 cases with 587,790 deaths. In total, there were at least 225,885,010 cases of COVID-19 worldwide with more than 4,650,840 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors


Energy shares climbed 3.2% on Wednesday. Meanwhile, top gainers in the sector included Uranium Royalty Corp. (NASDAQ:UROY), up 22% and SM Energy Company (NYSE:SM) up 12%.


In trading on Wednesday, utilities shares rose by just 0.2%.

Top Headline

US industrial production rose 0.4% for August, following a 0.8% increase in the previous month.

 

Equities Trading UP

Indaptus Therapeutics, Inc. (NASDAQ:INDP) shares shot up 87% to $13.20 after the company announced the United States Patent and Trademark Office has issued a notice of allowance for claims related to the company’s platform technology.


Shares of GreenSky, Inc. (NASDAQ:GSKY) got a boost, shooting 53% to $11.92. Goldman Sachs Group Inc (NYSE:GS) agreed to acquire specialty lender GreenSky for $2.24 billion.

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares were also up, gaining 58% to $25.20 as the company priced its IPO at $17 per share.

Check out these big movers of the day

Equities Trading DOWN

Sonim Technologies, Inc. (NASDAQ:SONM) shares tumbled 28% to $0.3749. Sonim reported a 1-for-10 reverse stock split.

Shares of Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) were down 44% to $2.5182 after the company reported Q3 earnings results.

Nuwellis, Inc. (NASDAQ:NUWE) was down, falling 31% to $2.55 after the company priced its 3,483,120 share common stock offering at $2.50 per share.

Commodities


In commodity news, oil traded up 2.9% to $72.48, while gold traded down 0.7% to $1,795.00.


Silver traded down 0.3% Wednesday to $23.81 while copper rose 2% to $4.4055.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 declined 0.80%, the Spanish Ibex Index fell 1.65% and the German DAX 30 dropped 0.68%. Meanwhile, the London’s FTSE 100 fell 0.25%, French CAC 40 fell 1.04% and Italy’s FTSE MIB dropped 1.02%.

Industrial output in the Eurozone increased by 1.5% in July, while hourly labor costs fell 0.1% year-over-year in the June quarter. The annual inflation rate in France was confirmed at 1.9% in August. Annual inflation rate in the UK surged to 3.2% in August, while output prices in the UK rose 5.9% year-over-year in August.

Economics

The New York Empire State Manufacturing Index surged to 34.3 in September from 18.3 in the previous month.


The price index for US imports fell 0.3% in August, while export prices rose 0.4%.


US industrial production rose 0.4% for August.


US crude oil inventories dropped 6.4 million barrels last week, the Energy Information Administration said.

Check out the full economic calendar here

Share this news on your Fb,Twitter and Whatsapp

File source

NY Press News:Latest News Headlines
NY Press News||Health||New York||USA News||Technology||World News

Tags
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close