US Stocks Mixed; Economy Grows By 2.8% In Q3

U.S. stocks traded mixed this morning, with the Nasdaq Composite falling over 50 points on Wednesday.

The Dow traded up 0.06% to 44,889.33 while the NASDAQ fell 0.34% to 19,104.42. The S&P 500 also fell, dropping, 0.17% to 6,011.61.

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Leading and Lagging Sectors

Real estate shares jumped by 0.7% on Tuesday.

In trading on Tuesday, information technology shares fell by 1%.

Top Headline

The US economy grew by an annualized rate of 2.8% in the third quarter, the same as in the flash reading, versus 3% in the previous quarter.

Equities Trading UP
                       

• Top KingWin Ltd WAI shares shot up 129% to $0.55. Top KingWin announced a $2,500,000 convertible promissory note private placement.
• Shares of HWH International Inc. HWH got a boost, surging 61% to $0.9850.
• Unusual Machines, Inc. UMAC shares were also up, gaining 76% to $9.42 after the company announced that Donald Trump Jr. has joined its advisory board.

Equities Trading DOWN

• Primega Group Holdings Limited PGHL shares dropped 88% to $12.82 after surging 919% on Tuesday..
• Shares of Outlook Therapeutics, Inc. OTLK were down 80% to $0.9545 after the company announced it plans to resubmit the biologics license application for ONS-5010 after reporting preliminary topline results of its Norse eight clinical trial.
• Haoxi Health Technology Limited HAO was down, falling 40% to $0.1235. Haoxi Health Technology was awarded a RMB30 million framework contract to provide digital advertising services for Tengyuan Media Advertising.

Commodities

In commodity news, oil traded down 0.2% to $68.66 while gold traded up 1.1% at $2,650.90.

Silver traded up 0.9% to $30.435 on Wednesday, while copper rose 0.7% to $4.1485.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 slipped 0.4%, Germany's DAX fell 0.3% and France's CAC 40 dipped 1%. Spain's IBEX 35 Index fell 0.6%, while London's FTSE 100 fell 0.2%.

The GfK Consumer Climate Indicator for Germany declined to a reading of -23.3 points heading into December, recording the lowest level since May.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 falling 0.80%, Hong Kong's Hang Seng Index gaining 2.32%, China's Shanghai Composite Index climbing 1.53% and India's BSE Sensex gaining 0.29%.

Economics

• The U.S. economy grew by an annualized rate of 2.8% in the third quarter, the same as in the flash reading, versus 3% in the previous quarter.
• U.S. initial jobless claims came in unchanged at 213,000 for the week ending Nov. 23, compared to market estimates of 216,000.
• The U.S. goods trade deficit shrank to $99.1 billion in October versus a revised gap of $108.7 billion in the previous month.
• U.S. wholesale inventories increased by 0.2% month-over-month to $905 billion in October, compared to a 0.2% decline in the prior month.

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