U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 500 points on Wednesday.
The Dow traded down 1.30% to 38,376.37 while the NASDAQ fell 1.11% to 16,126.44. The S&P 500 also fell, dropping, 1.15% to 5,150.00.
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Leading and Lagging Sectors
Energy shares fell by 0.3% on Wednesday.
In trading on Wednesday, real estate shares tumbled by 4.1%.
Top Headline
U.S. crude oil inventories increased by 5.841 million barrels in the week ended April 5, compared to market estimates of a 2.366 million gain.
Equities Trading UP
Marin Software Incorporated MRIN shares shot up 146% to $0.7052 after the company announced upgrades to its integration with Microsoft Advertising.
Shares of Adial Pharmaceuticals, Inc. ADIL got a boost, surging 66% to $1.8716 after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.
Jaguar Health, Inc. JAGX shares were also up, gaining 37% to $0.1231 after the company announced the approval of all proposals at its April 2024 Special Meeting of Stockholders and said it is not implementing a reverse split at this time.
Equities Trading DOWN
VIA optronics AG VIAO shares dropped 34% to $0.5950. VIA optronics announced intention to voluntarily delist its ADSs from the New York Stock Exchange. VIA optronics and Antolin unveiled Sunrise, a new horizon of integration in vehicle cockpits.
Shares of Ascent Solar Technologies, Inc. ASTI were down 50% to $0.1368 after the company announced pricing of a $6 million public offering of shares at $0.14 per share.
Velo3D, Inc. VLD was down, falling 40% to $0.2777 after the company announced pricing of a $12 million public offering.
Commodities
In commodity news, oil traded up 0.2% to $85.36 while gold traded down 0.4% at $2,353.90.
Silver traded up 0.3% to $28.08 on Wednesday, while copper fell 0.5% to $4.2630.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 rose 0.15%, London’s FTSE 100 rose 0.33% while Spain’s IBEX 35 Index fell 0.38% The German DAX rose 0.11% French CAC 40 fell 0.05% while Italy’s FTSE MIB Index rose 0.27%.
The value of retail sales in Italy rose by 0.1% from the prior month in February.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 falling 0.48%, Hong Kong’s Hang Seng Index gaining 1.85%, China’s Shanghai Composite falling 0.70% and India’s S&P BSE Sensex gaining 0.47%.
Producer prices in Japan rose by 0.8% year-over-year in March, while value of loans rose 3.2% year-over-year in March. Chinese vehicle sales climbed by 9.9% year-over-year to 2.69 million units in March compared to a 19.9% decline in the previous month.
Economics
U.S. mortgage applications rose 0.1% on the week ending April 5, 2024.
U.S. annual inflation rate rose for a second consecutive month to 3.5% in March from 3.2% in February.
U.S. wholesale inventories increased by 0.5% month-over-month in February compared to a 0.2% decline in the previous month.
U.S. crude oil inventories increased by 5.841 million barrels in the week ended April 5, compared to market estimates of a 2.366 million gain.
