Benzinga - by Avi Kapoor, Benzinga Staff Writer.
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining over 100 points on Wednesday.
The Dow traded up 0.29% to 37,633.43 while the NASDAQ rose 0.72% to 14,965.31. The S&P 500 also rose, gaining, 0.48% to 4,779.31.
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Leading and Lagging Sectors
Communication services shares rose by 1.1% on Wednesday.
In trading on Wednesday, energy shares fell by 1.3%.
Top Headline
U.S. wholesale inventories declined by 0.2% month-over-month in November compared to a revised 0.3% fall in the previous month.
Equities Trading UP
Clearmind Medicine Inc. (NASDAQ: CMND) shares shot up 44% to $2.9901 after the company said it completed a Type A meeting with the U.S. Food and Drug Administration.
Shares of Amarin Corporation plc (NASDAQ: AMRN) got a boost, surging 28% to $1.2450 after the company reported preliminary fourth-quarter financial results and announced plans to initiate a share repurchase program of up to $50 million.
Nauticus Robotics, Inc. (NASDAQ: KITT) shares were also up, gaining 87% to $0.5463. Nauticus Robotics secured additional funding and appointed John W. Gibson, Jr as interim CEO.
Equities Trading DOWN
DocGo Inc. (NASDAQ: DCGO) shares dropped 35% to $3.1089. Fuzzy Panda Research issued a report and disclosed a short position in the stock.
Shares of Aclaris Therapeutics, Inc. (NASDAQ: ACRS) were down 24% to $0.9732 after the company's Phase 2B study of ATI-1777 2% QD was not statistically superior on the primary efficacy endpoint.
Aehr Test Systems (NASDAQ: AEHR) was down, falling 15% to $18.92 after the company lowered its full-year revenue guidance.
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Commodities
In commodity news, oil traded down 1.1% to $71.46 while gold traded down 0.2% at $2,029.70.
Silver traded down 0.1% to $23.08 on Wednesday while copper rose 0.6% to $3.7820.
Euro zone
European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.18%, London’s FTSE 100 fell 0.42% while Spain’s IBEX 35 Index rose 0.07% The German DAX rose 0.01% French CAC 40 fell 0.01% while Italy’s FTSE MIB Index rose 0.14%.
Industrial production in France increased 0.5% month-over-month in November versus a 0.3% decline a month ago.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 gaining 2.01%, Hong Kong’s Hang Seng Index falling 0.57% and China’s Shanghai Composite Index falling 0.54%. India’s S&P BSE Sensex, meanwhile, rose 0.38%.
Average cash earnings in Japan rose by 0.2% year-over-year in November, recording the 23rd straight month of increasing wages. The monthly Consumer Price Index indicator in Australia increased by 4.3% in the year to November.
Economics
Mortgage applications in the U.S. rose by 9.9% in the first week of the year, compared to the 10.7% decline from the prior period.
U.S. wholesale inventories declined by 0.2% month-over-month in November compared to a revised 0.3% fall in the previous month.
Crude oil inventories in the U.S. increased by 1.338 million barrels in the week ending Jan. 5, versus market estimates of a 0.675 million barrel decline.
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