U.S. stocks displayed positive momentum midway through trading, with the Nasdaq Composite increasing by around 150 points on Wednesday.
The Dow traded up 0.36% to 38,040.66 while the NASDAQ rose 0.97% to 15,574.97. The S&P 500 also rose, gaining, 0.66% to 4,896.89.
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Market Performance
Communication services shares rose by 1.7% on Wednesday.
In trading on Wednesday, utilities shares fell by 0.8%.
Crude Oil and Equities Performance
US crude oil inventories fell by 9.233 million barrels in the week ending Jan. 19, marking the largest decline since August in comparison to market estimates of a 2.15 million-barrel decrease.
Equities Trading UP
Getaround, Inc. GETR shares surged 158% to $0.4750 after the company announced it secured $20 million in financing.
Shares of Evaxion Biotech A/S EVAX jumped 116% to $10.80 after a 13G filing revealed that Merck & Co reported an 11.4% stake in the company as of Dec. 21, 2023.
SciSparc Ltd. SPRC shares also gained, rising 64% to $5.67 after the company announced a $20 million standby equity purchase agreement.
Equities Trading DOWN
BlackBerry Limited BB shares decreased by 18% to $2.9050 after the company announced a proposed private offering of $160 million of convertible senior notes.
Shares of Annovis Bio, Inc. ANVS were down 16% to $9.73 after the company announced a postponement in the Phase III study data release for buntanetap in Parkinson’s Disease.
DuPont de Nemours, Inc. DD tumbled 12% to $65.94 after the company revealed preliminary fourth-quarter and full year 2023 results, and issued first-quarter guidance.
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Commodities Overview
In commodity news, oil surged by 1.4% to $75.41 while gold traded down 0.5% at $2,015.90.
Silver traded up 1.7% to $22.850 on Wednesday while copper rose 2.2% to $3.8775.
European and Asian Markets
