US Stocks Edge Lower; Housing Starts Rise In October

U.S. stocks traded slightly lower this morning, with the Nasdaq Composite falling around 30 points on Friday.

Following the market opening Friday, the Dow traded down 0.04% to 34,931.47 while the NASDAQ fell 0.22% to 14,082.87. The S&P 500 also fell, dropping, 0.07% to 4,504.96.

Check This Out: Top 5 Health Care Stocks That May Collapse In November

 

Leading and Lagging Sectors

 

Energy shares surged by 0.9% on Friday.

In trading on Friday, communication services shares fell by 0.5%.

 

Top Headline

 

Housing starts in the U.S. increased by 1.9% month-over-month to an annualized rate of 1.372 million in October, while building permits rose by 1.1% to an annual rate of 1.487 million.

 

Equities Trading UP

 

Safe and Green Development Corporation SGD shares shot up 162% to $7.94. Safe And Green Development shares jumped around 559% on Thursday after the company said it does not intend to conduct the offering of the shares of common stock contemplated by the Registration Statement.

Shares of Altamira Therapeutics Ltd. CYTO got a boost, shooting 116% to $0.2157. Altamira Therapeutics announced partial spin-off of Bentrio business.

WANG & LEE GROUP, Inc. WLGS shares were also up, gaining 76% to $0.7096.

 

Equities Trading DOWN

 

Vigil Neuroscience, Inc. VIGL shares dropped 35% to $4.35 after the company reported interim data from Phase 2 IGNITE proof-of-concept clinical trial evaluating iluzanebart as a treatment for ALSP and from ongoing natural history study ILLUMINATE.

Shares of Bone Biologics Corporation BBLG were down 35% to $0.5099 after the company announced a registered direct offering priced at-the-market under Nasdaq rules.

ChargePoint Holdings, Inc. CHPT was down, falling 34% to $2.0556 after the company reported preliminary results and announced a management transition. The company appointed Rick Wilmer, who has been COO since July 2022, as its new president and CEO, effective Nov. 16.

Also Check This Out: Jim Cramer Has A 'Problem' With This Fintech Giant: 'I Like The Mastercards And The Visas Now'

 

Commodities

 

In commodity news, oil traded up 1.4% to $73.90 while gold traded down 0.1% at $1,987.20.

Silver traded down 0.1% to $23.925 on Friday while copper rose 0.2% to $3.7115.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 gained 0.9%, London’s FTSE 100 climbed 1% while Spain’s IBEX 35 Index rose 0.7% The German DAX rose 0.8% French CAC 40 rose 0.9%, while Italy’s FTSE MIB Index rose 0.6%.

The inflation rate in the Eurozone came in at 2.9% year-over-year for October, recording the lowest figure since July 2021. The Eurozone reported a current account surplus of EUR 40.78 billion in September versus a year-ago deficit of EUR 5.40 billion. Retail sales in the UK declined by 0.3% month-over-month in October versus a revised 1.1% decline in September.

 

Asia Pacific Markets

 

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 0.48%, Hong Kong’s Hang Seng Index falling 2.12% and China’s Shanghai Composite Index gaining 0.11%. India’s S&P BSE Sensex, meanwhile, fell 0.3%.

Foreign direct investment into China fell by 9.4% year-over-year to CNY 987.01 billion during the first ten months of the year.

 

Economics

 

Housing starts in the U.S. increased by 1.9% month-over-month to an annualized rate of 1.372 million in October, while building permits rose by 1.1% to an annual rate of 1.487 million.


Now Read This: How To Earn $500 A Month From Walmart Stock Following Strong Q3 Sales

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsTrading IdeasMid Morning Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!