Dow Jumps 200 Points; US Inflation Rate Slows In April

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.

Following the market opening, the Dow traded up 0.54% to 39,772.77 while the NASDAQ rose 0.57% to 5,276.57. The S&P 500 also rose, gaining, 0.59% to 16,608.83                                                .  .

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Leading and Lagging Sectors

Real estate shares rose by 1.8% on Wednesday.

In trading on Wednesday, energy shares fell by 0.5%.

Top Headline

U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%. Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago.

Equities Trading UP
                       

• Sintx Technologies, Inc SINT shares shot up 173% to $0.15 after jumping over 41% on Tuesday. SINTX Technologies recently posted downbeat quarterly results.
• Shares of Edible Garden AG Incorporated EDBL got a boost, surging 89% to $8.06 following first-quarter results.
• Faraday Future Intelligent Electric Inc FFIE shares were also up, gaining 75% to $0.4998 after jumping around 368% on Tuesday.

Equities Trading DOWN

• Virpax Pharmaceuticals, Inc. VRPX shares dropped 63% to $0.85 after the company reported pricing of $2.25m public offering.
• Shares of Yield10 Bioscience, Inc. YTEN were down 49% to $2.69 after the company reported delisting from the Nasdaq.
• Aethlon Medical, Inc. AEMD was down, falling 41% to $0.5050 after the company announced pricing of $4.7 million public offering.

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Commodities

In commodity news, oil traded down 0.5% to $77.63 while gold traded up 0.5% at $2,370.80.

Silver traded up 1.3% to $29.07 on Wednesday, while copper rose 2.1% to $4.9980.

Euro zone

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

Industrial production in the Eurozone increased by 0.6% month-over-month in March compared to a revised 1% gain in the previous month. The Eurozone economy grew by 0.3% on quarter during the first three months, compared to a 0.1% decline in the prior quarter.

The annual inflation rate in France fell to 2.2% in April from 2.3% in March.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei gaining 0.08%, China's Composite Index falling 0.82%, Hong Kong's Hang Seng Index falling 0.22% and India's S&P BSE Sensex falling 0.22%.

Total passenger vehicle sales in India rose 1.2% year-over-year to 287,746 in April compared to an 8.9% rise in the prior month. The People’s Bank of China kept the interest rate unchanged at 2.50%.

Economics

• Mortgage applications in the US rose 0.5% from the prior week in the period ending May 10.
• U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%.
• Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago.
• U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.
• The NY Empire State Manufacturing Index declined to -15.6 in May compared to -14.3 in the prior month, and versus market estimates of -10.0.

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