Crude Oil Down 2%; ISM Services PMI Falls In January

Benzinga
02-06

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 50 points on Wednesday.

The Dow traded up 0.13% to 44,612.83 while the NASDAQ fell 0.36% to 19,584.07. The S&P 500 also fell, dropping, 0.09% to 6,032.63.

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Leading and Lagging SectorsReal estate shares surged by 1.2% on Wednesday.

In trading on Wednesday, communication services shares fell by 3.5%.

Top Headline

The ISM services PMI fell to 52.8 in January versus a revised reading of 54 in December, and down from estimates of 54.3.

Equities Trading UP                       

  • Criteo S.A. (NASDAQ:CRTO) shares shot up 19% to $45.85 following better-than-expected fourth-quarter reported financial results and an increase in its share buyback authorization program.
  • Shares of Pasithea Therapeutics Corp (NASDAQ:KTTA)got a boost, surging 44% to $3.07 after a Safety Review Committee recommended proceeding to Cohort 5 in its Phase 1 trial of PAS-004 without modification.
  • Aurora Cannabis Inc (NASDAQ:ACB) shares were also up, gaining 46% to $5.38 after the company reported a 37% year-over-year increase in third-quarter total net revenue.

Equities Trading DOWN

  • Volcon Inc (NASDAQ:VLCN) shares dropped 42% to $1.8498 after the company announced the pricing of $12.0 million underwritten public offering.
  • Shares of FMC Corp (NYSE:FMC) were down 34% to $35.81 following weak guidance.
  • RXO, Inc. (NYSE:RXO) was down, falling 13% to $21.90 following fourth-quarter results.

CommoditiesIn commodity news, oil traded down 2.1% to $71.19 while gold traded up 0.4% at $2,887.10.

Silver traded down 0.4% to $32.885 on Wednesday, while copper rose 0.8% to $4.39.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.28%, Germany's DAX 40 gained 0.15% and France's CAC 40 fell 0.37%. Spain's IBEX 35 Index rose 1.13%, while London's FTSE 100 rose 0.41%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 gaining 0.09%, China's Shanghai Composite Index falling 0.65%, Hong Kong's Hang Seng Index falling 0.93% and India's BSE Sensex falling 0.40%.

Economics

  • The U.S. trade deficit increased to $98.4 billion in December versus a revised $78.9 billion gap in the previous month and compared to market estimates of a $96.6 billion gap.
  • U.S. private businesses added 183,000 workers to their payrolls in January, compared to a revised 176,000 gain in December and above expectations of 150,000.
  • The S&P Global composite PMI came in at 52.7 for January, versus the preliminary reading of 52.4 and compared to December's level of 55.4.
  • The ISM services PMI fell to 52.8 in January versus a revised reading of 54 in December, and down from estimates of 54.3.
  • The Energy Information Administration said crude inventories increased by 3.463 million barrels in the recent week, exceeding market estimates of a 3.2 million-barrel gain.

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