Nasdaq Edges Lower; Crude Oil Down 2% - Gatos Silver (NYSE:GATO), Hempacco (NASDAQ:HPCO)


U.S. stocks traded mixed midway through trading, with the Dow Jones gaining more than 100 points on Wednesday.

The Dow traded up 0.36% to 29,345.84 while the NASDAQ fell 0.23% to 10,402.24. The S&P 500 also rose, gaining, 0.06% to 3,590.95.

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Leading and Lagging Sectors

Consumer staples shares rose by 1.5% on Wednesday. Leading the sector was strength from RLX Technology Inc. RLX and PepsiCo, Inc. PEP.

In trading on Wednesday, real estate shares dipped by 1.1%.

Top Headline


The Producer Price Index for final demand in the US rose 0.4% month-over-month in September, recording the first rise in three months. Analysts, meanwhile, were expecting for a 0.2% rise.


Equities Trading UP


  • Hempacco Co., Inc. HPCO shares shot up 54% to $3.3800 after the company reported a 486% year-on-year jump in first-half FY22 revenue to about $2.8 million.
  • Shares of El Pollo Loco Holdings, Inc. LOCO got a boost, shooting 14% to $10.34 after the company declared a special dividend of $1.50 per share and approved a 20 million share buyback program.
  • Gatos Silver, Inc. GATO shares were also up, gaining 17% to $3.0250. Gatos Silver reported a 59% year-over-year surge in Q3 silver production.

Equities Trading DOWN

  • Kinnate Biopharma Inc. KNTE shares tumbled 32% to $7.55.
  • Kinnate Biopharma late Tuesday said, ‘Initial site activation was slower than expected due to COVID-19. This has resulted in a limited number of efficacy evaluable patients to-date in the relevant population at the predicted efficacious dose.’
  • Shares of Owens & Minor, Inc. OMI were down 27% to $17.04 after the company issued Q3 adjusted EPS guidance below estimates and cut FY22 adjusted EPS guidance below estimates.
  • T2 Biosystems, Inc. TTOO was down, falling 31% to $0.0550 after the company cut FY22 sales guidance to below analyst estimates and announced a 1-for-50 reverse stock split.

Also check out: Uber, Lyft, AZZ And Other Big Losers From Tuesday


In commodity news, oil traded down 2% to $87.59, while gold traded down 0.4% at $1,678.50.

Silver traded down 2.3% to $19.045 on Wednesday while copper fell 1.5% to $3.4110.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.39%, London’s FTSE 100 fell 0.68% while Spain’s IBEX 35 Index fell 1.19%. The German DAX declined 0.11%, French CAC 40 fell 0.11% and Italy’s FTSE MIB Index fell 0.98%.

Industrial production in the UK fell by 1.8% from a month ago in August versus a revised 1.1% drop in the previous month, while the country’s trade deficit increased to GBP 7.1 billion in August versus a revised GBP 5.4 billion in the prior month. The UK economy shrank by 0.3% month-over-month in August versus a revised 0.1% increase in July. Manufacturing output in the UK dropped by 1.6 percent from a month ago in August.




  • The Producer Price Index for final demand in the US rose 0.4% month-over-month in September, recording the first rise in three months. Analysts, meanwhile, were expecting for a 0.2% rise.
  • The Treasury is set to auction 10-year notes at 1:00 p.m. ET.
  • Michael Barr, the Fed’s vice chair for supervision will speak at 1:45 p.m. ET.
  • The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
  • Federal Reserve Governor Michelle Bowman is set to speak at 6:30 p.m. ET.

Check out this: Investor Fear Increases As Nasdaq Drops Over 100 Points

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,608,430 cases with around 1,088,470 deaths. India confirmed a total of at least 44,618,530 cases and 528,830 deaths, while France reported over 35,970,370 COVID-19 cases with 155,620 deaths. In total, there were at least 627,828,930 cases of COVID-19 worldwide with more than 6,564,300 deaths.


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