Dow Jones Surges As Aclaris Therapeutics And Clearmind Medicine Make Headlines Dow Jones Surges As Aclaris Therapeutics And Clearmind Medicine Make Headlines

By: Alex Freidmen

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.27% to 37,627.83 while the NASDAQ rose 0.24% to 14,893.51. The S&P 500 also rose, gaining, 0.23% to 4,767.44.

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Market Movement

Communication services shares surged by 1%, while materials shares fell by 0.3% on Wednesday.

Top Headline

PriceSmart, Inc. PSMT exceeded expectations for its first-quarter earnings on Tuesday.

Pricesmart reported adjusted earnings of $1.24 per share, surpassing market estimates of $1.09 per share, with quarterly sales at $1.17 billion, beating estimates of $1.16 billion, according to data from Benzinga Pro.

Equities Trading UP

Clearmind Medicine Inc. CMND shares soared 47% to $3.0550 after successful regulatory progress for clinical trials.

Shares of Nvni Group Limited NVNI and Nauticus Robotics, Inc. KITT also surged significantly.

Equities Trading DOWN

DocGo Inc. DCGO shares dropped 25% to $3.6095 after a critical report, and Aclaris Therapeutics, Inc. ACRS experienced a 25% decline following a clinical study setback.

HWH International Inc. HWH also faced a 17% decline after a previous 26% dip on Tuesday.

Commodities

In commodity news, oil traded up 1.2% to $73.10 while gold traded up 0.3% at $2,038.50. Silver traded up 0.1% to $23.105 on Wednesday, while copper rose 0.4% to $3.7760.

Global Market News

European shares were mostly lower, indicating mixed performance in European exchanges. Additionally, Asian markets also exhibited varied outcomes, with Japan’s Nikkei 225 gaining, Hong Kong’s Hang Seng Index falling, China’s Shanghai Composite Index declining, and India’s S&P BSE Sensex rising.

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Economic Indicators

Mortgage applications in the U.S. rose by 9.9% in the first week of the year, bouncing back from the prior period’s decline. Additionally, there were notable changes in industrial production in France and the monthly Consumer Price Index indicator in Australia.

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