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Mid-morning market update: Markets mixed; industrial production rises 0.4% In August

Benzinga Real-time News ·  Sep 15, 2021 10:28  · Markets

Following the market opening Wednesday, the Dow traded up 0.13% to 34,621.78 while the NASDAQ fell 0.25% to 14,999.72. The S&P also rose, gaining 0.03% to 4,444.41.

Leading and Lagging Sectors

Energy shares climbed 3.1% on Wednesday. Meanwhile, top gainers in the sector included $Tellurian(TELL.US)$, up 10% and $SM Energy Co(SM.US)$ up 11%.

In trading on Wednesday, communication services shares dipped by 0.6%.

Top Headline

US industrial production rose 0.4% for August, following a 0.8% increase in the previous month.

Equities Trading UP

$Indaptus Therapeutics Inc(INDP.US)$ shares shot up 132% to $16.41 after the company announced the United States Patent and Trademark Office has issued a notice of allowance for claims related to the company's platform technology.

Shares of $GreenSky Inc(GSKY.US)$ got a boost, shooting 52% to $11.78. $Goldman Sachs(GS.US)$ agreed to acquire specialty lender GreenSky for $2.24 billion.

$G MEDICAL INNOVATIONS HLDGS LTD(GMVD.US)$ shares were also up, gaining 30% to $3.6899 after the company reported financial results for the six months ended June 30, 2021. The company’s 1H sales jumped 45.5% year-over-year to $2.925 million.

Equities Trading DOWN

$Greenidge Generation(GREE.US)$ shares tumbled 16% to $46.88. Greenidge Generation closed merger with Support.com as of Tuesday.

Shares of $Kaival Brands Innovations(KAVL.US)$ were down 41% to $2.65 after the company reported Q3 earnings results.

$Nuwellis Inc(NUWE.US)$ was down, falling 29% to $2.6288 after the company priced its 3,483,120 share common stock offering at $2.50 per share.

Commodities

In commodity news, oil traded up 1.4% to $71.42, while gold traded down 0.2% to $1,804.10.

Silver traded down 0.1% Wednesday to $23.855 while copper rose 0.6% to $4.3485.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.4%, the Spanish Ibex Index fell 0.9% and the German DAX 30 dropped 0.2%. Meanwhile, the London’s FTSE 100 rose 0.1%, French CAC 40 fell 0.6% and Italy’s FTSE MIB dropped 0.4%.

Industrial output in the Eurozone increased by 1.5% in July, while hourly labor costs fell 0.1% year-over-year in the June quarter. The annual inflation rate in France was confirmed at 1.9% in August. Annual inflation rate in the UK surged to 3.2% in August, while output prices in the UK rose 5.9% year-over-year in August.

Economics

The New York Empire State Manufacturing Index surged to 34.3 in September from 18.3 in the previous month.

The price index for US imports fell 0.3% in August, while export prices rose 0.4%.

US industrial production rose 0.4% for August.

The Energy Information Administration’s weekly report on petroleum inventories will be released at 10:30 a.m. ET.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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