U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.27% to 47,778.78 while the NASDAQ fell 0.40% to 22,544.04. The S&P 500 also fell, dropping, 0.23% to 6,767.01.
Leading and Lagging Sectors
Utilities shares climbed by 1.6% on Thursday.
In trading on Thursday, information technology stocks fell by 0.8%.
Top Headline
The U.S. economy grew at an annualized rate of 0.5% in the fourth quarter. That's a sharp deceleration from the 4.4% pace recorded in the third quarter and a downward revision of 0.2 percentage points from the prior estimate, primarily due to weaker investment data.
Equities Trading UP
- Onconetix Inc (NASDAQ:ONCO) shares shot up 76% to $1.99 after the company announced Realbotix, its pending acquisition target, has delivered its first Vinci-equipped humanoid robot to Ericsson.
- Shares of DarkIris Inc (NASDAQ:DKI) got a boost, surging 59% to $0.63 after the company announced it has established AETHER INTELLIGENCE, a new subsidiary in Singapore.
- Arrive AI Inc (NASDAQ:ARAI) shares were also up, gaining 58% to $1.06 after investors appeared to react to a press release issued Monday announcing the company’s tenth U.S. patent, a development that strengthens its intellectual-property portfolio around autonomous delivery infrastructure.
Equities Trading DOWN
- Huachen AI Parking Mgmt Tech Hldg Co Ltd (NASDAQ:HCAI) shares dropped 41% to $0.23 after the company announced a 1-for-30 reverse stock split.
- Shares of Hub Cyber Security Ltd (NASDAQ:HUBC) were down 38% to $0.12.
- 707 Cayman Holdings Ltd (NASDAQ:JEM) was down, falling 33% to $0.14.
Commodities
In commodity news, oil traded up 7.8% to $101.75 while gold traded up 0.4% at $4,796.30.
Silver traded down 0.6% to $74.900 on Thursday, while copper fell 0.6% to $5.7420.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.6%, while Spain's IBEX 35 Index fell 0.8%. London's FTSE 100 slipped 0.4%, Germany's DAX dipped 1.6% and France's CAC 40 fell 0.9% during the session.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.73%, China's Shanghai Composite falling 0.72%, Hong Kong's Hang Seng Index declining 0.54% and India's BSE Sensex dropping 1.20%.
Economics
- U.S. wholesale inventories increased by 0.8% month-over-month to $919.6 billion in February following a revised 0.3% decline in January.
- The U.S. PCE price index increased 0.4% month-over-month in February, up from January's 0.3% growth.
- U.S. initial jobless claims increased by 16,000 from the previous week to 219,000 in the week ending April 4, versus market estimates of 212,000.
- The U.S. economy grew at an annualized rate of 0.5% in the fourth quarter. That's a sharp deceleration from the 4.4% pace recorded in the third quarter and a downward revision of 0.2 percentage points from the prior estimate, primarily due to weaker investment data.
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