Nasdaq Down Over 100 Points; US Producer Inflation Stalls In February

Benzinga
03-13

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.18% to 41,276.26 while the NASDAQ dipped 0.71% to 17,523.60. The S&P 500 also fell, dropping, 0.33% to 5,580.80.

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Leading and Lagging SectorsEnergy shares gained by 0.9% on Thursday.

In trading on Thursday, consumer discretionary shares dipped by 1.8%.

Top Headline

U.S. producer prices unexpectedly stagnated in February, while core inflation posted a rare contraction, reinforcing hopes that cost pressures may be easing despite lingering concerns over trade tariffs.

U.S. producer prices came in unchanged in February from January compared to a revised 0.6% increase in the previous period and versus estimates of a 0.3% gain.

Equities Trading UP                       

  • Lifeward Ltd. (NASDAQ:LFWD) shares shot up 78% to $2.6091 as the company received 510(k) FDA clearance for the newest generation of its Personal Exoskeleton Device, The ReWalk 7.
  • Shares of Newton Golf Company (NASDAQ:SPGC)got a boost, surging 58% to $0.1704. Sacks Parente Golf recently initiated a 1-for-30 reverse stock split and announced a rebranding to the name Newton Golf.
  • Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares were also up, gaining 26% to $5.79.

Equities Trading DOWN

  • Aditxt, Inc. (NASDAQ:ADTX) shares dropped 40% to $0.0341 after the company announced a 1-for-250 reverse stock split.
  • Shares of Century Casinos, Inc.  (NASDAQ:CNTY) were down 29% to $1.7485 after the company reported weak fourth-quarter financial results.
  • Highest Performances Holdings Inc. (NASDAQ:HPH) was down, falling 28% to $0.1420.

CommoditiesIn commodity news, oil traded down 0.8% to $67.15 while gold traded up 0.1% at $2,950.20.

Silver traded down 0.6% to $33.555 on Thursday, while copper fell 0.4% to $4.8310.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.1%, Germany's DAX 40 fell 0.8% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index rose 0.3%, while London's FTSE 100 fell 0.1%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei dipping 0.08%, China's Shanghai Composite Index falling 0.39% and Hong Kong's Hang Seng Index falling 0.58%, India's BSE Sensex falling 0.27%.

Economics

  • U.S. producer prices came in unchanged in February from January compared to a revised 0.6% increase in the previous period and versus estimates of a 0.3% gain.
  • U.S. initial jobless claims declined by 2,000 to 220,000 in the first week of March, compared to market estimates of 225,000.

Now Read This:

  • Adobe, Intel And 3 Stocks To Watch Heading Into Thursday

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