U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 150 points on Wednesday.
The Dow traded down 0.48% to 37,183.10 while the NASDAQ fell 1.15% to 14,772.10. The S&P 500 also fell, dropping 0.91% to 4,722.52.
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Leading and Lagging Sectors
Health care shares fell by just 0.2% on Wednesday.
In trading on Wednesday, real estate shares dipped by 2.6%.
Top Headline
Charles Schwab Corporation SCHW reported better-than-expected fourth-quarter earnings.
Adjusted EPS fell from $1.07 to 68 cents, beating the consensus of 64 cents, according to data from Benzinga Pro. Revenue fell 19% to $4.46 billion, marginally missing the consensus of $4.48 billion.
Equities Trading UP
Airspan Networks Holdings Inc. MIMO shares shot up 307% to $0.3130 after the company announced a partnership with GCT Semiconductor to develop an RF module.
Shares of Digital World Acquisition Corp. DWAC got a boost, surging 17% to $26.15 after Donald Trump recently won the Iowa GOP caucus. Digital World Acquisition Corp is the business combination partner of Trump Media & Technology Group.
Bullfrog AI Holdings, Inc. BFRG shares were also up, gaining 34% to $3.5401 after the company reported early results from its collaboration with Lieber Institute for Brain Development (LIBD).
Equities Trading DOWN
TuSimple Holdings Inc. TSP shares dropped 48% to $0.3657. TuSimple announced intention to delist from the Nasdaq.
Shares of Phunware, Inc. PHUN were down 55% to $0.1892 after the company announced pricing of a $7 million registered direct offering price at-the-market under Nasdaq rules.
DatChat, Inc. DATS was down, falling 46% to $1.71 after the company announced pricing of a $1.8 million underwritten public offering of common stock.
Commodities
In commodity news, oil traded up 0.1% to $72.41 while gold traded down 1.1% at $2,007.60.
Silver traded down 1.7% to $22.70 on Wednesday while copper fell 0.8% to $3.7355.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.13%, London’s FTSE 100 fell 1.48% while Spain’s IBEX 35 Index dipped 1.26% The German DAX fell 0.84% French CAC 40 fell 1.07% while Italy’s FTSE MIB Index fell 0.79%.
The inflation rate in the Euro Area rose to 2.9% in December versus 2.4% in November. Annual inflation rate in the UK increased to 4% in December from 3.9% in November, while factory gate prices of goods produced by manufacturers rose 0.1% year-over-year in December following a revised 0.1% decline in November.
Asia Pacific Markets
Asian markets closed lower on Wednesday, with Japan’s Nikkei 225 falling 0.40%, Hong Kong’s Hang Seng Index falling 3.71% and China’s Shanghai Composite Index gaining 2.09%. India’s S&P BSE Sensex, meanwhile, fell 2.23%.
Chinese surveyed urban unemployment rate rose to 5.1% in December from 5.0% in the prior three months, while retail sales rose by 7.4% year-over-year in December. The Chinese economy expanded by a seasonally adjusted 1.0% in the fourth quarter, while industrial production rose by 6.8% year-over-year in December.
Economics
Retail sales in the US rose 0.6% month-over-month in December compared to a 0.3% increase in November.
US import prices came in unchanged in December, while export prices declined 0.9% month-over-month in December.
Total business inventories declined by 0.1% month-over-month in November.
The NAHB/Wells Fargo Housing Market Index climbed to 44 in January from 37 in the prior month.
Industrial production rose by 0.1% from the prior month in December.
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