Dow Falls 200 Points; US Producer Prices Surge In April

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

Following the market opening Wednesday, the Dow traded down 0.49% to 49,515.22 while the NASDAQ gained 0.13% to 26,121.77. The S&P 500 also fell, dropping, 0.13% to 7,391.19.

Leading and Lagging Sectors

Information technology shares jumped by 0.4% on Wednesday.

In trading on Wednesday, utilities stocks fell by 1.7%.

Top Headline

U.S. producer prices rose 1.4% month-over-month in April, recording the biggest gain since March 2022, compared to a revised 0.7% rise in March and higher than market estimates of 0.5%.

Equities Trading UP
           

• Quantum Cyber N.V. (NASDAQ:QUCY) shares shot up 87% to $0.60. Quantum Cyber executed IP license agreement with BP United for its drone technology portfolio.
• Shares of Fitness Champs Holdings Limited (NASDAQ:FCHL) got a boost, surging 45% to $1.9350.
• Oriental Culture Holding LTD (NASDAQ:OCG) shares were also up, gaining 37% to $2.5500.

Equities Trading DOWN

• WORK Medical Technology Group LTD (NASDAQ:WOK) shares dropped 77% to $1.5400. The decline followed extreme volatility and intense profit-taking following a massive, news-driven rally earlier in the week.
• Shares of Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) were down 65% to $0.2788. Reviva Pharmaceuticals will be delisted from Nasdaq, with shares expected to begin trading on OTCQB on May 14.
• TriSalus Life Sciences, Inc. (NASDAQ:TLSI) was down, falling 40% to $2.74 after the company reported mixed first-quarter financial results and cut its FY26 sales guidance below estimates.

Commodities

In commodity news, oil traded down 0.1% to $102.11 while gold traded up 0.2% at $4,695.60.

Silver traded up 2% to $87.285 on Wednesday, while copper rose 1.7% to $6.6415.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index fell 0.5%. London's FTSE 100 fell 0.1%, Germany's DAX rose 0.3%, while France's CAC 40 declined 0.4%.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 0.84%, Hong Kong's Hang Seng Index gaining 0.15%, China's Shanghai Composite gaining 0.67% and India's BSE Sensex rising 0.07%

Economics

• U.S. producer prices rose 1.4% month-over-month in April, recording the biggest gain since March 2022, compared to a revised 0.7% rise in March and higher than market estimates of 0.5%.
• U.S. mortgage applications climbed by 1.7% from the previous week during the first week of May.

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