Nasdaq Down Over 100 Points; Fortress Biotech Shares Plummet

China Green Agriculture, Inc. 0.00%
Fortress Biotech, Inc. -1.65%
FISKER INC. 0.00%
Global Mofy Metaverse Limited +2.11%
Microbot Medical Inc -6.31%

China Green Agriculture, Inc.

CGA

2.85

0.00%

Fortress Biotech, Inc.

FBIO

1.79

-1.65%

FSR

NaN

Global Mofy Metaverse Limited

GMM

0.85

+2.11%

Microbot Medical Inc

MBOT

0.96

-6.31%

U.S. stocks turned lower midway through trading, with the Nasdaq Composite falling more than 100 points on Friday.

The Dow traded down 0.34% to 37,583.72 while the NASDAQ fell 0.73% to 14,984.98. The S&P 500 also fell, dropping, 0.47% to 4,760.73.

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Leading and Lagging Sectors

 

Health care shares rose by 0.1% on Friday.

In trading on Friday, real estate shares fell by 0.7%.

 

Top Headline

 

The Chicago PMI fell to 46.9 in December from 55.8 in the previous month, and compared to market estimates of 51.

 

Equities Trading UP

 

Fisker Inc. (NYSE:FSR) shares shot up 19% to $1.7950 after the company provided a December 2023 business update.

Shares of China Green Agriculture, Inc. (NYSE:CGA) got a boost, surging 53% to $2.90. On Dec. 27, China Green Agriculture entered into a stock purchase agreement with Zhibiao Pan for the acquisition of all outstanding stock of Lonestar Dream for a total consideration of $49 million.

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares were also up, gaining 17% to $0.3858. Titan Pharmaceuticals said its Board of Directors has approved a 1-for-20 reverse stock split.

 

Equities Trading DOWN

 

Global Mofy Metaverse Limited (NASDAQ:GMM) shares dropped 42% to $6.48.
Global Mofy Metaverse announced a $10 million follow-on offering.

Shares of Microbot Medical Inc. (NASDAQ:MBOT) were down 20% to $1.65. Microbot Medical announced exercise of outstanding preferred investment options for $2.73 million in gross proceeds priced at-the-market under Nasdaq rules.

Fortress Biotech, Inc. (NASDAQ:FBIO) was down, falling 21% to $3.0850 as the company announced pricing of $11 million registered direct offering priced at-the-market under Nasdaq rules.

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Commodities

 

In commodity news, oil traded up 0.2% to $71.91 while gold traded down 0.5% at $2,073.90.

Silver traded down 1% to $24.13 on Friday while copper fell 0.6% to $3.9010.

 

Euro zone

 

European shares were higher today. The eurozone’s STOXX 600 gained 0.29%, London’s FTSE 100 rose 0.14% while Spain’s IBEX 35 Index rose 0.37% The German DAX rose 0.30% French CAC 40 rose 0.39% while Italy’s FTSE MIB Index rose 0.35%.

Spain posted a current account surplus of EUR 3,770 million in October versus a year-ago surplus of EUR 1,228 million. Spain's consumer price inflation eased to 3.1% year-over-year in December from 3.2% in the prior month. The Nationwide House Price Index in the U.K. fell by 1.8% year-over-year in December.

 

Asia Pacific Markets

 

Asian markets closed mixed on Friday, with Japan’s Nikkei 225 falling 0.22%, Hong Kong’s Hang Seng Index rising 0.02% and China’s Shanghai Composite Index gaining 0.68%. India’s S&P BSE Sensex, meanwhile, fell 0.23%.

China reported a current account surplus of $62.8 billion in the third quarter, compared to the preliminary estimate of $62.6 billion.

 

Economics

 

The Chicago PMI fell to 46.9 in December from 55.8 in the previous month, and compared to market estimates of 51.

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