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    Dow Tumbles Over 200 Points; CERo Therapeutics Shares Jump

    Benzinga·09/25/2024 18:49:11
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    U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones index falling over 200 points on Wednesday.

    The Dow traded down 0.59% to 41,960.39 while the NASDAQ rose 0.03% to 18,079.66. The S&P 500 also fell, dropping, 0.16% to 5,723.63.

    Check This Out: Wall Street’s Most Accurate Analysts Give Their Take On 3 Materials Stocks With Over 4% Dividend Yields

    Leading and Lagging Sectors

    Utilities shares jumped by 0.7% on Wednesday.

    In trading on Wednesday, energy shares fell by 1.9%.

    Top Headline

    Sales of new single-family houses in the U.S. fell by 4.7% from the prior month to an annualized rate of 716,000 in August, compared to a revised 10.3% gain in July.

    Equities Trading UP
                           

    • Capricor Therapeutics, Inc. (NASDAQ:CAPR) shares shot up 37% to $12.44. Maxim Group and Oppenheimer increased price targets on the stock.
    • Shares of Eightco Holdings Inc. (NASDAQ:OCTO) got a boost, surging 46% to $3.6250. Eightco Holdings expects to deliver revenues of $100 million for 2025.
    • CERo Therapeutics Holdings, Inc. (NASDAQ:CERO) shares were also up, gaining 13% to $0.1056 after the company announced it secured $1.25 million in financing and requested an FDA type A meeting to address the clinical hold on CER-1236.

    Equities Trading DOWN

    • Vertex Energy, Inc. (NASDAQ:VTNR) shares dropped 56% to $0.1585 after the company announced it filed for Chapter 11 bankruptcy.
    • Shares of Stitch Fix, Inc. (NASDAQ:SFIX) were down 37% to $2.3510 after the company reported worse-than-expected fourth-quarter EPS results.
    • Target Hospitality Corp. (NASDAQ:TH) was down, falling 18% to $7.70 after the company announced that the Company’s Board of Directors has determined to disband the Special Committee.

    Commodities

    In commodity news, oil traded down 2.6% to $69.69 while gold traded up 0.3% at $2,685.50.

    Silver traded down 0.9% to $32.135 on Wednesday, while copper fell 0.1% to $4.4880.

    Euro zone

    European shares closed lower today. The eurozone's STOXX 600 fell 0.11%, Germany's DAX fell 0.41% and France's CAC 40 fell 0.50%. Spain's IBEX 35 Index fell 0.38%, while London's FTSE 100 fell 0.17%.

    Producer prices in Spain declined by 1.3% year-over-year in August compared to a revised 1.6% decline in the previous month. The consumer confidence indicator in France climbed to 95.1 in September from 92.5 in the prior month.

    Asia Pacific Markets

    Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 falling 0.19%, Hong Kong's Hang Seng Index jumping 0.68%, China's Shanghai Composite Index gaining 1.16% and India's BSE Sensex gaining 0.30%.

    The People's Bank of China cut its one-year policy loan rate by 30bps to 2.0%.

    Economics

    • U.S. building permits increased by 4.6% to an annual rate of 1.470 million in August.
    • U.S. mortgage applications rose by 11% from the prior week during the week ending Sept. 20, compared to a 14.2% increase in the previous week.
    • Sales of new single-family houses in the U.S. fell by 4.7% from the prior month to an annualized rate of 716,000 in August of 2024, compared to a revised 10.3% gain in the prior month.

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