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Dow Surges 250 Points; US Manufacturing PMI Tops Expectations

Grand News Network | October 24, 2023

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 250 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.80% to 33,200.75 while the NASDAQ rose 0.88% to 13,132.62. The S&P 500 also rose, gaining, 0.79% to 4,250.15.

Check This Out: 'Never Buy A Drug Stock Just For The Yield': Jim Cramer On This Big Pharma Company

 

Leading and Lagging Sectors

 

Utilities shares rose by 1.7% on Tuesday.

In trading on Tuesday, energy shares fell by 0.3%.

 

Top Headline

 

The S&P Global manufacturing PMI for the US increased to 50 in October from 49.8 in the prior month and topping market expectations of 49.5. The S&P Global services PMI rose to 50.9 in October versus 50.1 a month ago.

 

Equities Trading UP

 

InMed Pharmaceuticals Inc. (NASDAQ: INM) shares shot up 187% to $1.66. InMed Pharmaceuticals said INM-901 demonstrates unique pharmacological effects in Alzheimer's disease in preclinical proof-of-concept studies.

Shares of Ascent Solar Technologies, Inc. (NASDAQ: ASTI) got a boost, shooting 76% to $1.73 after the company received encouragement from the U.S. Department of Energy to submit a full application for federal funding of the Agrivoltaic Product ...

Full story available on Benzinga.com


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