Dow Rises Over 50 Points; US Inflation Rate Increases In May

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 50 points on Wednesday.

The Dow traded up 0.16% to 42,936.56 while the NASDAQ gained 0.13% to 19,740.30. The S&P 500 also rose, gaining, 0.10% to 6,045.06.

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Leading and Lagging Sectors

Health care shares jumped by 0.2% on Wednesday.

In trading on Wednesday, materials stocks fell by 0.6%.

Top Headline

The annual inflation rate increased to 2.4% in May from 2.3% in the previous month, but came in below market estimates of 2.5%.

Equities Trading UP
           

• Catheter Precision, Inc. (NASDAQ:VTAK) shares shot up 222% to $0.7290.
• Shares of Helius Medical Technologies, Inc. (NASDAQ:HSDT) got a boost, surging 76% to $1.49 after the company announced authorized claim for payment for PoNS Device from Aetna Healthcare.
• NanoVibronix, Inc. (NASDAQ:NAOV) shares were also up, gaining 96% to $1.59. NanoVibronix’s ENvue secured patent for pediatric feeding tube guidance system, advancing toward regulatory clearance.

Equities Trading DOWN

• LeddarTech Holdings Inc. (NASDAQ:LDTC) shares dropped 43% to $0.2147 after the company announced it laid off most of its employees and may file for bankruptcy.
• Shares of Carisma Therapeutics, Inc. (NASDAQ:CARM) were down 43% to $0.6391.
• Draganfly Inc. (NASDAQ:DPRO) was down, falling 41% to $2.2050 as the company announced the pricing of 5.5 million unit public offering at $2.50 per unit.

Commodities

In commodity news, oil traded up 2.1% to $66.37 while gold traded up 0.3% at $3,352.90.

Silver traded down 1.1% to $36.245 on Wednesday, while copper fell 1.7% to $4.8160.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 fell 0.2%, while Spain's IBEX 35 Index fell 0.7%. London's FTSE 100 gained 0.2%, Germany's DAX 40 rose 0.1% and France's CAC 40 fell 0.1% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei gaining 0.55%, Hong Kong's Hang Seng Index gaining 0.84%, China's Shanghai Composite rising 0.52% and India's BSE Sensex gaining 0.15%.

Economics

The annual inflation rate increased to 2.4% in May from 2.3% in the previous month, but came in below market estimates of 2.5%.

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