The Dow Jones index navigated choppy waters, dropping over 100 points on Friday during mid-trading session.
At present, the Dow was down by 0.37% to 38,761.74, while the NASDAQ experienced a 0.95% decline to 15,974.83. The S&P 500 was not spared either, falling 0.62% to 5,118.35.
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Industry Undercurrents
Energy shares surged by 0.6% on Friday.
Conversely, information technology shares experienced a 0.9% dip during trading.
Key Market Update
The University of Michigan consumer sentiment declined to 76.5 in March, marking the lowest figure in the past three months, down from 76.9 in February.
Stocks on the Rise
Verb Technology Company, Inc. VERB witnessed a staggering 202% surge, reaching $0.4221. VERB’s MARKET.live platform launched Facebook and Instagram social shopping technology integration.
Meanwhile, Cardlytics, Inc. CDLX soared 54% to $12.59 following a strong fourth-quarter earnings report.
American Vanguard Corporation AVD also experienced a boost, with shares climbing 24% to $13.11 on the back of favorable fourth-quarter financial results.
Stocks on the Decline
C3is Inc. CISS plummeted 65% to $0.0280 after announcing a $6 million underwritten public offering.
Shares of SELLAS Life Sciences Group, Inc. SLS dropped 32% to $1.06 following a $20 million registered direct offering.
Immuneering Corporation IMRX also took a hit, falling 24% to $2.2097 after multiple analysts downgraded the stock post-Phase 1 clinical trial results.
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Commodity Trends
In commodity news, oil dipped by 0.6% to $80.78, while gold experienced a 0.1% decrease, settling at $2,165.70.
Silver showed an upward trend, rising 2.2% to $25.615 on Friday, with copper not far behind, climbing 1.6% to $4.1105.
Economic Insights
U.S. manufacturing production grew by 0.8% month-over-month in February.
Additionally, U.S. industrial production saw a 0.1% uptick from the previous month during February.
The NY Empire State Manufacturing Index dipped to -20.9 in March from -2.4 in February.
Export prices in the U.S. rose by 0.8% month-over-month in February, with import prices also experiencing a 0.3% increase.
The University of Michigan consumer sentiment declined to 76.5 in March, capturing the lowest figure in three months compared to February’s 76.9.
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