SCTL - Nasdaq Gains 100 Points Following PCE Data | Benzinga
U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 100 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.07% to 38,923.11 while the NASDAQ rose 0.65% to 16,051.57. The S&P 500 also rose, gaining, 0.30% to 5,084.74.
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Leading and Lagging Sectors
Communication services shares rose by 0.9% on Thursday.
In trading on Thursday, health care shares fell by 0.6%.
Top Headline
The annual PCE inflation rate eased slightly from 2.6% in December 2023 to 2.4% in January 2024. Excluding energy and food, the core PCE index saw a year-on-year surge of 2.8%, down from the 2.9% rate seen December and in line with the expected decrease to 2.8%.
Equities Trading UP
Societal CDMO, Inc. (NASDAQ: SCTL) shares shot up 132% to $1.0686. Privately held CoreRx Inc. will acquire Societal CDMO, a contract development and manufacturing organization.
Shares of Enveric Biosciences, Inc. (NASDAQ: ENVB) got a boost, surging 130% to $1.91. Enveric Biosciences signed a non-binding term sheets to pursue the exclusive out-licensing of three classes of compounds.
Volcon, ...