Gold Edges Lower; Omeros Shares Jump

U.S. stocks traded higher midway through trading, with the Dow Jones index surging more than 200 points on Wednesday.

the Dow traded up 0.48% to 48,673.55 while the NASDAQ rose 0.09% to 23,582.81. The S&P 500 also rose, gaining, 0.25% to 6,927.29.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.7% on Wednesday.

In trading on Wednesday, communication services stocks fell by 0.1%.

Top Headline

U.S. initial jobless claims declined by 10,000 from the previous week to 214,000 in the week ending Dec. 20, compared to market estimates of 223,000.

Equities Trading UP
           

• Edgewise Therapeutics Inc (NASDAQ:EWTX) shares shot up 21% to $26.36. Edgewise Therapeutics on Wednesday shared updates from the ongoing CIRRUS-HCM Phase 2 trial of EDG-7500.
• Shares of Multi Ways Holdings Ltd (NYSE:MWG) got a boost, surging 62% to $0.41 after the company reported a year-over-year increase in H1 EPS results.
• Omeros Corp (NASDAQ:OMER) shares were also up, gaining 68% to $14.72 after the FDA approved YARTEMLEA to treat hematopoietic stem cell transplant–associated thrombotic microangiopathy.

Equities Trading DOWN

• Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares dropped 10% to $24.56, retreating from a rally that saw the stock hit a new 52-week high on Tuesday. The volatility follows a collision of record-breaking commodity tailwinds and a major divestiture by high-profile backer AMC Entertainment Holdings Inc (NYSE:AMC).
• Shares of Citius Pharmaceuticals Inc (NASDAQ:CTXR) were down 24% to $0.80. Citius Pharmaceuticals reported better-than-expected earnings for the fourth quarter.
• SMX (Security Matters) PLC (NASDAQ:SMX) was down, falling 9% to $135.00.

Commodities

In commodity news, oil traded down 0.2% to $58.28 while gold traded down 0.3% at $4,493.50.

Silver traded down 0.2% to $71.00 on Wednesday, while copper rose 0.2% to $5.5640.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index fell 0.06%. London's FTSE 100 fell 0.19%, Germany's DAX 40 rose 0.23% and France's CAC 40 slipped 0.01% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.14%, Hong Kong's Hang Seng gaining 0.17%, China's Shanghai Composite rising 0.53% and India's BSE Sensex falling 0.14%.

Economics

U.S. initial jobless claims declined by 10,000 from the previous week to 214,000 in the week ending Dec. 20, compared to market estimates of 223,000.

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