Dow and NASDAQ Trade Higher
U.S. stocks traded higher this morning, following the release of PPI data on Friday. The Dow traded up 0.08% to 37,739.53 while the NASDAQ rose 0.49% to 15,042.81. The S&P 500 also rose, gaining 0.40% to 4,799.13.
Energy shares jumped by 1.4% on Friday, while consumer discretionary shares rose by just 0.01%.
Producer Prices Dip In December
Producer prices in the U.S. fell 0.1% month-over-month in December, matching the prior month, and compared to market estimates of a 0.1% rise.
Market Gains and Losses
Charge Enterprises, Inc. (NASDAQ: CRGE) shares shot up 81% to $0.1469 after a 9% fall on Thursday. Shares of Spectral AI, Inc. (NASDAQ: MDAI) surged 28% to $3.2600 as they started enrollment in pivotal study. Volcon, Inc. (NASDAQ: VLCN) shares also surged, gaining 39% to $0.1375 after an 11% rise on Thursday.
Genius Group Limited (NYSE: GNS) shares dropped 49% to $0.2624 after announcing the pricing of an $8.25 million public offering. Shares of VCI Global Limited (NASDAQ: VCIG) were down 37% to $0.9901 after announcing the pricing of a $2.75 million public offering. SEALSQ Corp (NASDAQ: LAES) fell 32% to $2.1450 after a 62% increase on Thursday.
Commodity and Global Market Update
In commodity news, oil traded up 2.8% to $74.09, and gold traded up 1.9% at $2,058.00. Silver traded up 3% to $23.39 while copper rose 0.2% to $3.7850.
European shares were higher with various indices such as the Eurozone’s STOXX 600, London’s FTSE 100, Spain’s IBEX 35, the German DAX, French CAC 40, and Italy’s FTSE MIB Index all registering positive growth.
Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 1.50%, Hong Kong’s Hang Seng Index falling 0.35%, China’s Shanghai Composite Index falling 0.16%, and India’s S&P BSE Sensex rising 1.16%.
Economic Insights
Producer prices in the U.S. fell 0.1% month-over-month in December, the same as in the prior month, and compared to market estimates of a 0.1% rise.
