U.S. stocks slip as industrial production stalls; Dow falls 0.45%

  • U.S. stocks traded lower, led by declines in the Dow Jones, Nasdaq, and S&P 500.
  • Industrial production was unchanged in August, while manufacturing output fell 0.3%.
  • Securitize rose 10%, while Stardust Power dropped 39% during Friday trading.

U.S. stocks traded lower midway through Friday’s session, with the Dow Jones Industrial Average down more than 200 points and falling 0.45% to 51,544.44. The Nasdaq declined 0.16% to 26,376.37, while the S&P 500 dropped 0.24% to 7,619.32. Energy shares rose 0.2%, whereas materials stocks fell 1.4%. U.S. industrial production was unchanged in August after increasing 0.2% in July, below market expectations for a 0.3% rise. Manufacturing output declined 0.3%, also missing forecasts for a 0.3% increase, while the CB Leading Index fell 0.1% month over month. Among individual stocks, Securitize Corp rose 10% to $9.81 after StoneX analyst Mark Palmer maintained a Buy rating and raised the price target from $10 to $12. Hyperliquid Strategies Inc gained 6% to $13.63 after traders responded to the SEC (U.S. securities regulator) approving innovation relief connected to tokenized U.S. stock trading on public blockchains. Mistras Group Inc advanced 6% to $21.01 after agreeing to be acquired by affiliates of H.I.G. Capital in an all-cash transaction. Stardust Power Inc fell 39% to $0.15 as investors assessed an updated stock offering and the potential for further dilution. Xenon Pharmaceuticals Inc dropped 29% to $40.55 after voluntarily pausing enrollment of new patients in ongoing psychiatry studies, prompting multiple firms to cut their price targets. Evolution Metals & Technologies Corp declined 13% to $3.52 after entering a securities purchase agreement with Yorkville to issue and sell $30,927,835 in convertible debentures. Oil rose 0.1% to $101.99 and gold fell 0.1% to $4,394.30. Silver rose 1.2% to $66.855 on Thursday, while copper increased 0.1% to $6.6695. European shares moved lower, with the eurozone’s STOXX 600 down 1.1%, Spain’s IBEX 35 Index down 1.6%, London’s FTSE 100 down 0.3%, Germany’s DAX down 1.6%, and France’s CAC 40 down 1.5%. Asian markets closed mostly higher, led by Japan’s Nikkei 225, which gained 1.38%; Hong Kong’s Hang Seng Index rose 0.60%, China’s Shanghai Composite gained 0.94%, and India’s BSE Sensex fell 0.03%.

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U.S. stocks slip as industrial production stalls; Dow falls 0.45% - CoinPost Terminal