Dow Falls Over 100 Points; US GDP Growth Slows In Q4

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.27% to 47,778.78 while the NASDAQ fell 0.40% to 22,544.04. The S&P 500 also fell, dropping, 0.23% to 6,767.01.

Leading and Lagging Sectors

Utilities shares climbed by 1.6% on Thursday.

In trading on Thursday, information technology stocks fell by 0.8%.

Top Headline

The U.S. economy grew at an annualized rate of 0.5% in the fourth quarter. That's a sharp deceleration from the 4.4% pace recorded in the third quarter and a downward revision of 0.2 percentage points from the prior estimate, primarily due to weaker investment data.

Equities Trading UP
           

• Onconetix Inc (NASDAQ:ONCO) shares shot up 76% to $1.99 after the company announced Realbotix, its pending acquisition target, has delivered its first Vinci-equipped humanoid robot to Ericsson.
• Shares of DarkIris Inc (NASDAQ:DKI) got a boost, surging 59% to $0.63 after the company announced it has established AETHER INTELLIGENCE, a new subsidiary in Singapore.
• Arrive AI Inc (NASDAQ:ARAI) shares were also up, gaining 58% to $1.06 after investors appeared to react to a press release issued Monday announcing the company’s tenth U.S. patent, a development that strengthens its intellectual-property portfolio around autonomous delivery infrastructure.

Equities Trading DOWN

• Huachen AI Parking Mgmt Tech Hldg Co Ltd (NASDAQ:HCAI) shares dropped 41% to $0.23 after the company announced a 1-for-30 reverse stock split.
• Shares of Hub Cyber Security Ltd (NASDAQ:HUBC) were down 38% to $0.12.
• 707 Cayman Holdings Ltd (NASDAQ:JEM) was down, falling 33% to $0.14.

Commodities

In commodity news, oil traded up 7.8% to $101.75 while gold traded up 0.4% at $4,796.30.

Silver traded down 0.6% to $74.900 on Thursday, while copper fell 0.6% to $5.7420.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.6%, while Spain's IBEX 35 Index fell 0.8%. London's FTSE 100 slipped 0.4%, Germany's DAX dipped 1.6% and France's CAC 40 fell 0.9% during the session.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.73%, China's Shanghai Composite falling 0.72%, Hong Kong's Hang Seng Index declining 0.54% and India's BSE Sensex dropping 1.20%.

Economics

• U.S. wholesale inventories increased by 0.8% month-over-month to $919.6 billion in February following a revised 0.3% decline in January.
• The U.S. PCE price index increased 0.4% month-over-month in February, up from January's 0.3% growth.
• U.S. initial jobless claims increased by 16,000 from the previous week to 219,000 in the week ending April 4, versus market estimates of 212,000.
• The U.S. economy grew at an annualized rate of 0.5% in the fourth quarter. That's a sharp deceleration from the 4.4% pace recorded in the third quarter and a downward revision of 0.2 percentage points from the prior estimate, primarily due to weaker investment data.

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