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US Stocks Surge as Inflation Hits 3.4% in December

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U.S. stocks displayed a bullish trend this morning, witnessing a notable upswing. The Nasdaq Composite soared, gaining over 50 points on Thursday, highlighting a promising start to the trading day.

After the market opening, the Dow exhibited an increase of 0.07%, ascending to 37,723.53, while the NASDAQ rose by 0.46% to 15,039.09. The S&P 500 also surged, with gains of 0.21% reaching 4,793.32.

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Market Sectors: Winners and Losers

Information technology shares saw a significant rise of 0.8% on Thursday, underlining a strong performance in this crucial sector.

By contrast, in trading on Thursday, utilities shares faced a decline of 0.6%, marking a downturn in this particular market segment.

Major Economic Development

The U.S. witnessed a surge in the consumer prices by 0.3% month-over-month in December, contrasting with a 0.1% rise in November and surpassing market estimates of 0.2%.

The annual inflation rate rose to 3.4% in December from a five-month low level of 3.1% in November, surpassing market estimates of 3.2% and reflecting a profound economic shift.

Stocks on the Rise

Atreca, Inc.BCEL shares experienced a meteoric surge, jumping 95% to $0.2090. This impressive feat followed a dip of around 7% on Wednesday. Atreca made headlines the month prior with the sale of a collection of antibodies to Immunome, involving a substantial upfront payment of $5.5 million and potential clinical development milestones of up to $7.0 million.

Shares of Moolec Science SAMLEC surged 35% to $2.5850, marking a notable upswing for the company.

Additionally, Spectaire Holdings Inc.SPEC witnessed a 27% rise to $3.0873, attributed to a distribution agreement with MLab and Mosolf for the introduction of AireCore Emissions System in Europe.

Stocks on the Decline

Conversely, Clearmind Medicine Inc.CMND shares underwent a sharp decline of 49% to $1.4799, following their report on the pricing of a $2.4 million registered direct and private placement.

Similarly, shares of YanGuFang International Group Co., Ltd.YGF plunged 36% to $1.1601 after naming Ya Zhang as Interim CEO and Yang Sui as Interim CFO, effective Jan. 9, 2024.

Furthermore, 180 Life Sciences Corp.ATNF experienced a decline of 23% to $0.2330 after being granted an EU patent titled β€œMethod of Treating a Localized Fibrotic Disorder Using An Il-33 Antagonist.”

Commodity Market

In the commodity sphere, oil exhibited a notable increase of 1.4%, reaching $72.40, while gold witnessed a 0.2% surge, reaching $2,031.10.

Silver demonstrated a 0.2% increase to $23.115 on Thursday, alongside a 0.5% rise in copper, reaching $3.7995.

Euro Zone and Asia Pacific Markets

In Europe, a largely positive trend prevailed, as the eurozone’s STOXX 600 and Germany’s DAX recorded an upward surge of 0.2% and 0.3% respectively. However, London’s FTSE 100 saw a minor decline of 0.1%, while Spain’s IBEX 35 Index and France’s CAC 40 marked a positive trend, with an increase of 0.4% and 0.3% respectively.

In Asia, markets reflected a bullish sentiment. Japan’s Nikkei 225 soared by 1.77%, Hong Kong’s Hang Seng Index rose by 1.27%, and China’s Shanghai Composite Index marked a gain of 0.31%. Meanwhile, India’s S&P BSE Sensex experienced a modest increase of 0.1%.

Significant Economic Indicators

China’s vehicle sales witnessed a substantial 23.5% surge year-over-year in December, reaching 3.156 million units, following a 27.4% surge in November. Meanwhile, Japan’s leading economic indicators reported a fall to 107.7 in November, registering a decline from the final reading of 108.9 the previous month.

Also, the index of coincident economic indicators in Japan exhibited a decline to 114.5 in November compared to a final 115.9 a month prior. Notably, reserve assets in Japan ascended to $1.295 trillion in December from $1.270 trillion in the preceding month, marking the highest level since July 2022.

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