VERB - Nasdaq Down 50 Points; US Trade Deficit Widens In July | Benzinga
U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 50 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.27% to 34,547.44 while the NASDAQ fell 0.36% to 13,970.92. The S&P 500, also fell, dropping, 0.34% to 4,481.74.
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Leading and Lagging Sectors
Energy shares jumped by 0.5% on Wednesday.
In trading on Wednesday, consumer discretionary shares fell by 0.7%.
Top Headline
The U.S. trade deficit widened to $65 billion in July versus a revised $63.7 billion in the prior month, and compared to market expectations for a $68 billion gap.
Exports rose 1.6% to a four-month high level of $251.7 billion, while imports rose 1.7% to $316.7 billion in July.
Equities Trading UP
Palisade Bio, Inc. (NASDAQ: PALI) shares shot up 131% to $1.59. Palisade Bio transformed GI-focused pipeline through exclusive worldwide licensing agreement with Giiant Pharma, Inc. for multiple oral drug candidates targeting inflammatory bowel disease.
Shares of FOXO Technologies Inc. (NYSE: FOXO) got a boost, shooting 49% to $0.2127 after the company's FOXO LIFE subsidiary announced an agreement with Atrio, expanding its distribution through Atrio/Singular's sales network.
iCoreConnect Inc. (NASDAQ: ICCT) shares were also up, gaining 43% to $9.62. iCoreConnect announced new version of its iCoreExchange encrypted HIPAA email and referral network.