US Stocks Mixed; Core PCE Prices Rise In December
Portfolio Pulse from Avi Kapoor
U.S. stocks were mixed in Friday's morning trading session after the release of PCE price inflation data for December. The Dow was slightly up, while the NASDAQ and S&P 500 saw minor declines. Health care shares were up by 0.5%, whereas information technology shares dropped by 0.8%. The PCE annual inflation rate remained steady at 2.6%, aligning with expectations. Inspire Veterinary Partners, Corbus Pharmaceuticals, and Aclarion saw significant share price increases, while Yoshitsu, Richtech Robotics, and Onconetix experienced notable declines. Oil prices fell slightly, while gold and silver saw modest gains.
January 26, 2024 | 3:02 pm
News sentiment analysis
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NEGATIVE IMPACT
Onconetix, Inc. fell 29% to $0.2399 after a significant surge on Thursday.
The drop in ONCO's stock price may be a correction following the previous day's sharp increase, indicating potential short-term volatility.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Richtech Robotics shares declined 52% to $4.7050 despite a recent LOI with Ghost Kitchens International.
Despite the positive news of an LOI, Richtech Robotics' stock price has fallen significantly, which could indicate market skepticism or a broader sell-off.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Yoshitsu Co., Ltd shares plummeted 60% to $0.3102 after announcing a $4.0 million offering.
The sharp decline in Yoshitsu's stock price is likely due to the dilutive effect of the new offering, which could negatively impact the stock in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Aclarion, Inc. shares surged 63% to $3.03, indicating strong investor interest.
The significant increase in Aclarion's share price suggests positive investor sentiment, which could lead to further short-term gains.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Corbus Pharmaceuticals shares jumped 112% to $17.92 after announcing promising data from a clinical study.
The surge in Corbus Pharmaceuticals' stock price is likely due to the positive reception of clinical study data, which could drive further short-term appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
POSITIVE IMPACT
Inspire Veterinary Partners' shares increased by 110% to $0.4067, continuing its upward trend from Thursday.
The continued rise in IVP's stock price after Thursday's gains suggests a strong bullish trend that may persist in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85