The Current Landscape
U.S. stocks remained stagnant mid-session, awaiting the Federal Reserve’s upcoming interest-rate verdict.
Market Movements
The Dow inched up to 39,123.89, while the NASDAQ dipped to 16,165.15. The S&P 500 followed suit, climbing marginally to 5,178.79.
Leading and Lagging Sectors
Industrials shares displayed a 0.5% increase, while energy shares experienced a 0.6% decline.
Recent Developments
Crude oil inventories in the U.S. saw a noteworthy 1.952 million barrel reduction, defying market expectations of a 0.013 million barrel gain.
Equities Performance
ETAO International Co., Ltd. ETAO witnessed a remarkable 80% surge to $0.2581 post announcing a reverse stock split.
Shares of Aquestive Therapeutics, Inc. AQST stumbled by 15% to $4.52 after pricing its $75 million underwritten public offering of 16,666,667 common shares at $4.50 per share.
Signet Jewelers Limited SIG faced an 11% dip down to $91.07 due to disappointing fourth-quarter sales and weak FY25 guidance.
Commodities Snapshot
Oil observed a 2.2% decline to $81.67, while gold edged 0.1% lower to $2,159.00. Silver followed suit, dipping 0.2% to $25.09, and copper fell by 0.7% to $4.0475.
Regional Recap
European exchanges closed with mixed results. The eurozone’s STOXX 600 dropped by 0.05%, while London’s FTSE 100 and Spain’s IBEX 35 Index rose by 0.02% and 0.28% respectively. Germany’s DAX and France’s CAC 40 witnessed small fluctuations, and Italy’s FTSE MIB Index slipped marginally.
In Asia, markets trended upwards, with Hong Kong’s Hang Seng Index, China’s Shanghai Composite Index, and India’s S&P BSE Sensex all posting gains, while the People’s Bank of China held benchmark lending rates steady.
Economic Insights
U.S. mortgage applications saw a 1.6% decline for the week ending March 15. Additionally, crude oil inventories in the U.S. exhibited a drastic 1.952 million barrel decrease for the same period.
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