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Dow Tumbles Over 100 Points; US Producer Prices Decline In May

Benzinga ·  Jun 13 09:45

U.S. stocks traded mixed this morning, with the Dow Jones index falling by more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.36% to 38,574.00 while the NASDAQ rose 0.55% to 17,705.52. The S&P 500 also rose, gaining, 0.19% to 5,431.23.

Leading and Lagging Sectors
Information technology shares jumped by 1.4% on Thursday.

In trading on Thursday, communication services shares fell by 0.9%.

Top Headline

U.S. producer prices fell by 0.2% month-over-month in May versus market estimates of a 0.1% gain and following a 0.5% increase in April.

Equities Trading UP

  • BioRestorative Therapies, Inc. (NASDAQ:BRTX) shares shot up 60% to $2.1399 after the company announced that it engaged in advanced discussions for a ThermoStem license with a regenerative medicine firm.
  • Shares of E-Home Household Service Holdings Limited (NASDAQ:EJH) got a boost, surging 42% to $0.8500.
  • Sharps Technology, Inc. (NASDAQ:STSS) shares were also up, gaining 40% to $0.4181 after the company announced that it signed a $30 million purchase order from Nephron Pharmaceuticals for prefillable copolymer syringes.

Equities Trading DOWN

  • Assure Holdings Corp. (NASDAQ:IONM) shares dropped 45% to $0.2862.
  • Shares of Nuburu, Inc. (NASDAQ:BURU) were down 36% to $0.0933 after the company announced that it will be implementing a 1-for-40 reverse stock split.
  • Cara Therapeutics, Inc. (NASDAQ:CARA) was down, falling 32% to $0.4631 after the company announced the outcome from the dose-finding Part A of the KOURAGE-1 study evaluating the efficacy and safety of oral difelikefalin for moderate-to-severe pruritus in adult patients with notalgia paresthetica. Also, Needham, Canaccord Genuity and HC Wainwright downgraded their respective ratings on the stock.

Also Check This Out: Wall Street's Most Accurate Analysts Give Their Take On 3 Industrials Stocks With Over 3% Dividend Yields

Commodities
In commodity news, oil traded down 0.4% to $78.18 while gold traded down 0.7% at $2,338.80.

Silver traded down 2.7% to $29.445 on Thursday, while copper fell 0.5% to $4.5425.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.7%, Germany's DAX dipped 1% and France's CAC 40 tumbled 1.1%. Spain's IBEX 35 Index fell 0.6%, while London's FTSE 100 slipped 0.3%.

Industrial production in the Eurozone fell by 0.1% month-over-month in April following a revised 0.5% gain in the prior month. The annual inflation rate in Spain accelerated for the third month to 3.6% in May.

Germany's wholesale prices declined by 0.7% year-over-year in May compared to a 1.8% fall in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.40%, Hong Kong's Hang Seng Index gaining 0.97%, China's Shanghai Composite Index falling 0.28% and India's S&P BSE Sensex gaining 0.27%.

The Hong Kong Monetary Authority kept its base rate unchanged at 5.75% during its latest meeting.

Economics

  • U.S. initial jobless claims rose by 13,000 to 242,000 in the week ending June 8, compared to market estimates of 225,000.
  • U.S. producer prices fell by 0.2% month-over-month in May versus market estimates of a 0.1% gain and following a 0.5% increase in April.

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