Dow Jones Falls Midway Through Trading
U.S. stocks experienced a downturn in midday trading, with the Dow Jones index shedding over 100 points on Friday.
Market Performance
The Dow saw a 0.37% decline to 38,761.74, the NASDAQ slipped 0.95% to 15,974.83, and the S&P 500 dropped 0.62% to 5,118.35.
Energy Sector Surges, Tech Falters
Energy shares surged by 0.6% on Friday while information technology stocks fell by 0.9%.
University of Michigan Consumer Sentiment
The University of Michigan consumer sentiment declined to 76.5 in March, marking a three-month low compared to the 76.9 recorded in February.
Stocks Rising
Shares of “Verb Technology Company, Inc.” (NASDAQ: VERB) soared 202% to $0.4221. “Cardlytics, Inc.” (NASDAQ: CDLX) witnessed a 54% surge to $12.59 after reporting better-than-expected Q4 earnings. “American Vanguard Corporation” (NYSE: AVD) also saw an increase, gaining 24% to $13.11 post fourth-quarter results.
Stocks Declining
“C3is Inc.” (NASDAQ: CISS) saw a 65% decline to $0.0280 following a $6 million public offering. “SELLAS Life Sciences Group, Inc.” (NASDAQ: SLS) dipped 32% to $1.06 after announcing a direct offering. “Immuneering Corporation” (NASDAQ: IMRX) fell 24% to $2.2097 post downgrades from analysts.
Commodity Market Update
Oil prices declined by 0.6% to $80.78, gold dipped 0.1% to $2,165.70, silver rose 2.2% to $25.615, and copper increased by 1.6% to $4.1105.
European Market Movements
European shares mostly trended higher, with notable movements in major indexes. Italy’s inflation rate stood at 0.8% in February, while France’s rate fell to 3% from 3.1% in the previous month.
Asia Pacific Markets Overview
Asian markets experienced a mix of gains and losses. Notably, China’s new home prices dropped by 1.4% year-over-year in February, while Singapore’s unemployment rate remained steady at 2.0% for Q4.
US Economic Indicators
U.S. manufacturing production rose by 0.8% month-over-month in February, industrial production increased by 0.1%, and export prices went up by 0.8% compared to January. Import prices also saw a rise of 0.3%.
