Mid-Afternoon Market Update: Dow Rises 50 Points; Nutriband Shares Spike Higher

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Toward the end of trading Friday, the Dow traded up 0.14% to 36,449.17 while the NASDAQ fell 0.20% to 15,710.56. The S&P also rose, gaining 0.08% to 4,782.32.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 55,252,820 cases with around 845,740 deaths. India confirmed a total of at least 34,838,800 cases and 481,080 deaths, while Brazil reported over 22,277,230 COVID-19 cases with 619,020 deaths. In total, there were at least 286,977,620 cases of COVID-19 worldwide with more than 5,448,550 deaths.

Leading and Lagging Sectors

Real estate shares climbed 0.8% on Friday. Meanwhile, top gainers in the sector included Nam Tai Property Inc. (NYSE:NTP), up 6% and Empire State Realty OP, L.P. (NASDAQ:ESBA) up 6%.

In trading on Friday, communication services shares fell 0.5%.

Top Headline

Pfizer, Inc.’s (NYSE:PFE) oral COVID-19 antiviral treatment Paxlovid was ratified by another health regulator ahead of the dawn of the new year.

The U.K.’s Medicines and Healthcare Products Regulatory Agency announced Friday it has approved Pfizer’s Paxlovid for treating COVID-19 infection.

Equities Trading UP

Nutriband Inc. (NASDAQ:NTRB) shares shot up 184% to $11.12 after the company announced the Korean Intellectual Property Office fully issued its patent titled “Abuse and Misuse Deterrent Transdermal System” which is related to the company’s lead technology AVERSA.

Shares of Medalist Diversified REIT, Inc. (NASDAQ:MDRR) got a boost, shooting 21% to $1.2299 after the company reported a stock repurchase program of 500,000 shares.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares were also up, gaining 24% to $3.0050 after the company announced U.S. Food and Drug Administration approval of Recorlev for the treatment of endogenous hypercortisolemia in adult patients with Cushing’s Syndrome.

Check out these big movers of the day

Equities Trading DOWN

Star Equity Holdings, Inc. (NASDAQ:STRR) shares tumbled 17% to $2.5250. Star Equity Holdings recently named Richard Coleman as COO.

Shares of Stryve Foods, Inc. (NASDAQ:SNAX) were down 17% to $3.74. Stryve Foods recently entered into a new distribution agreement to bring three flavors of its Vacadillos carne seca air-dried meat snacks to nearly 8,000 7-Eleven domestic convenience stores.

Integrated Media Technology Limited (NASDAQ:IMTE) was down, falling 10% to $4.54. Integrated Media Technology recently reported launching of NFT trading platform.

Commodities

In commodity news, oil traded down 2.3% to $75.25, while gold traded up 0.7% to $1,826.70.

Silver traded up 1.1% Friday to $23.315 while copper rose 1.6% to $4.4620.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.19%, the FTSE 100 slipped 0.25%, while French CAC 40 fell 0.28%.

Economics

The total number of active U.S. oil rigs came in unchanged at 480 rigs this week, Baker Hughes Inc reported.

Check out the full economic calendar here