Dow Dips 150 Points; US Housing Starts Fall In January

U.S. stocks traded lower this morning, with the Dow Jones index falling around 150 points on Wednesday.

The Dow traded down 0.33% to 44,408.16 while the NASDAQ fell 0.40% to 19,961.29. The S&P 500 also fell, dropping, 0.21% to 6,116.69.

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Leading and Lagging Sectors

Energy shares jumped by 1.6% on Wednesday.

In trading on Wednesday, materials shares fell by 1%.

Top Headline

U.S. housing starts fell 9.8% month-over-month to an annualized rate of 1.366 million in January compared to December’s reading of 1.515 million.

Equities Trading UP
                       

• OSR Holdings, Inc. OSRH shares shot up 170% to $8.40.
• Shares of Auddia Inc. AUUDgot a boost, surging 81% to $0.8071.
• Sintx Technologies, Inc. SINT shares were also up, gaining 64% to $4.6405 after the company announced the Issuance of U.S. patent No. 12,239,761 by the United States Patent and trademark office.

Equities Trading DOWN

• Nikola Corporation NKLA shares dropped 38% to $0.4760 after the company announced comprehensive voluntary chapter 11 sale process.
• Shares of Allurion Technologies Inc ALUR were down 33% to $3.7081. Allurion announced plans to raise $6.1 million in offering and concurrent private placement of 900,000 at 5.23/share.
• CNS Pharmaceuticals, Inc CNSP was down, falling 32% to $0.0975 after the company announced a 1-for-50 reverse stock split.

Commodities

In commodity news, oil traded up 1% to $72.56 while gold traded up 0.2% at $2,953.30.

Silver traded down 0.1% to $33.36 on Wednesday, while copper fell 0.1% to $4.5895.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.7%, Germany’s DAX 40 fell 1.1% and France’s CAC 40 declined 0.9%. Spain’s IBEX 35 Index fell 1.1%, while London’s FTSE 100 fell 0.6%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 0.27%, China’s Shanghai Composite Index falling 0.93%, Hong Kong’s Hang Seng Index falling 0.14% and India’s BSE Sensex falling 0.04%.

Economics

• U.S. housing starts fell 9.8% month-over-month to an annualized rate of 1.366 million in January compared to December’s reading of 1.515 million.
• Building permits rose by 0.1% to an annualized rate of 1.483 million in January.

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