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Positive Momentum in US Stocks as Producer Prices Fall in December Positive Momentum in US Stocks as Producer Prices Fall in December

U.S. stocks traded higher this morning, following the release of PPI data on Friday.

Following the market opening Friday, the Dow traded up 0.08% to 37,739.53 while the NASDAQ rose 0.49% to 15,042.81. The S&P 500 also rose, gaining, 0.40% to 4,799.13.

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Areas of Growth and Struggle

Energy shares jumped by 1.4% on Friday.

In trading on Friday, consumer discretionary shares rose by just 0.01%.

Major Market Developments

Producer prices in the U.S. fell 0.1% month-over-month in December, the same as in the prior month, and compared to market estimates of a 0.1% rise.

Rising Stocks

Charge Enterprises, Inc. CRGE shares shot up 81% to $0.1469 after falling 9% on Thursday.

Shares of Spectral AI, Inc. MDAI surged 28% to $3.2600 after starting enrollment in pivotal study to validate DeepView AI for burn injuries.

Volcon, Inc. VLCN shares were also up, gaining 39% to $0.1375 after gaining over 11% on Thursday.

Falling Stocks

Genius Group Limited GNS shares dropped 49% to $0.2624 after the company announced pricing of an $8.25 million public offering.

Shares of VCI Global Limited VCIG were down 37% to $0.9901 after the company announced pricing of a $2.75 million public offering.

SEALSQ Corp LAES was down, falling 32% to $2.1450 after jumping 62% on Thursday. SEALSQ announced closing of the second $10.0 million tranche of convertible notes and warrants private placement.

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Commodities Market

In commodity news, oil traded up 2.8% to $74.09 while gold traded up 1.9% at $2,058.00.

Silver traded up 3% to $23.39 on Friday while copper rose 0.2% to $3.7850.

Market Movement in Euro Zone

European shares were higher with various indices such as FTSE 100 and DAX showing strong performances.

Key economic indicators like consumer price inflation in Spain and growth in the British economy also provided supportive momentum to the market.

Asia Pacific Markets Insights

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 gaining 1.50%, Hong Kong’s Hang Seng Index falling 0.35% and China’s Shanghai Composite Index falling 0.16%. India’s S&P BSE Sensex, meanwhile, rose 1.16%.

The gauge for Japan’s service sector confidence rose by 1.2 points to a reading of 50.7 in December, while Japan’s current account rose to JPY 1,925.6 billion in November versus JPY 1,772.2 billion in the year-ago period.

China’s trade surplus widened to $75.34 billion in December from $70.65 billion in the year-ago month. China’s producer prices fell by 2.7% year-over-year in December, while consumer prices fell by 0.3% year-over-year in December.

Market Economics

Producer prices in the U.S. fell 0.1% month-over-month in December, aligning with prior month’s performance despite market estimates of a rise.

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