US equity futures saw an uptick Wednesday morning as traders analyzed the November consumer price index report. The Dow Jones Industrial Average futures experienced a rise of 0.2%, while S&P 500 futures were up by 0.4%, and Nasdaq futures increased by 0.6%. Meanwhile, oil prices also surged, with front-month global benchmark North Sea Brent crude climbing 1.2% to $73.04 per barrel, and US West Texas Intermediate crude increasing by 1.3% to $69.48 per barrel.
The November consumer price index report was released at 8:30 am ET, indicating a 0.3% increase in consumer prices, aligning with estimates compiled by Bloomberg, following a previous growth of 0.2%. In global markets, Japan's Nikkei index closed 0.01% higher, while Hong Kong's Hang Seng ended 0.8% lower.
Additionally, China's Shanghai Composite noted a 0.3% increase. The UK's FTSE 100 faced a decline of 0.9%, whereas Germany's DAX 30 index inched up by 0.1%, France's CAC 40 rose by 0.4%, and Spain's IBEX 35 fell by 0.3% in Europe’s early afternoon trading. In equity movements, Candel Therapeutics ($CADL) shares soared more than 168% in premarket trading after the biopharmaceutical firm announced that a phase 3 trial of CAN-2409, aimed at treating localized prostate cancer, successfully met its primary endpoint.
Conversely, Q32 Bio ($QTTB) shares plunged 65% following an announcement late Tuesday regarding the failure of its phase 2a trial for a treatment candidate targeting atopic dermatitis. Additionally, ImmunityBio ($IBRX) shares dropped by 31% after the company priced a 33.3-million-share stock offering at $3 per share, expecting proceeds of around $100 million..