US Stocks Edge Higher; Producer Prices Increase In January

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 0.2% on Thursday.

Following the market opening Thursday, the Dow traded up 0.09% to 44,407.78 while the NASDAQ rose 0.21% to 19,690.91. The S&P 500 also rose, gaining, 0.05% to 6,055.03.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 0.6% on Thursday.

In trading on Thursday, energy shares dipped by 0.4%.

Top Headline

The Producer Price Index surged 3.5% year over year in January, according to Thursday’s release from the Bureau of Labor Statistics.

This marks an acceleration from December’s 3.3% and exceeds the 3.2% forecast tracked by TradingEconomics. January’s surge also represents the highest annual reading since February 2023 and the fourth consecutive increase in the headline index, highlighting persistent inflationary pressures.

Equities Trading UP

Alpha Modus Holdings, Inc. AMOD shares shot up 118% to $4.01 after the company announced AI-powered retail expansion with CashX—targeting $75 million in annual ad revenue.
Shares of Phoenix Motor Inc. PEVgot a boost, surging 114% to $0.5396 after the company reported a year-over-year increase in third-quarter sales results.
Edesa Biotech, Inc. EDSA shares were also up, gaining 107% to $3.8500. The company announced a $15 million private placement.

Equities Trading DOWN

Digital Ally, Inc. DGLY shares dropped 51% to $0.0753 after the company priced a $15 million underwritten public offering.
Shares of The Trade Desk, Inc. TTD were down 32% to $83.43 following downbeat quarterly revenue.
West Pharmaceutical Services, Inc. WST was down, falling 31% to $223.57 following weak FY25 guidance.

Commodities

In commodity news, oil traded down 1.3% to $70.47 while gold traded up 0.4% at $2,939.70.

Silver traded down 0.6% to $32.600 on Thursday, while copper rose 0.2% to $4.7145.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.9%, Germany's DAX 40 rose 1.7% and France's CAC 40 rose 1.4%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 fell 0.6%.

Asia Pacific Markets

Asian markets closed mostly lower on Thursday, with Japan's Nikkei 225 gaining 1.28%, China's Shanghai Composite Index falling 0.42%, Hong Kong's Hang Seng Index falling 0.20% and India's BSE Sensex falling 0.04%.

Economics

The Producer Price Index surged 3.5% year over year in January, according to Thursday’s release from the Bureau of Labor Statistics.
U.S. initial jobless claims declined by 7,000 from the previous week to 213,000 during the first week of February, down from market estimates of 215,000

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