Pre-market Movers: PIXY, NEW, CEMI, SYTA, AUVI…

Gold Dips On Dollar Strength

Gold prices declined on Wednesday as the dollar index climbed to a one-week high, mainly on the back of the yen’s slump.

Spot gold slipped half a percent to $1,797.91 per ounce while U.S. gold futures were down 0.8 percent at $1,796.70.

The safe-haven yen touched a one-month low against the dollar during the Asian session as worries over the spread of Covid-19 and a tightening of restrictions sapped a multi-day rally in equity markets.

Coronavirus cases in France jumped to a record high of 179,807 on Tuesday, a day after the government announced new restrictions to contain infections.

Besides France, U.K., Italy, Greece, Portugal and Cyprus reported record daily infections on Tuesday.

The U.S. reported a seven-day average of 254,496 new virus cases on Tuesday, breaking the previous record of about 251,989 daily cases seen on January 11.

In economic releases, U.S. pending home sales, wholesale inventories and advance goods trade balance for November will be out in the New York session.

Pre-market Movers: BRTX, RCAT, AVCT, ACST, DBVT…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.10 A.M. ET).

In the Green

BioRestorative Therapies, Inc. (BRTX) is up over 49% at $6.84
Red Cat Holdings, Inc. (RCAT) is up over 33% at $2.45
American Virtual Cloud Technologies, Inc. (AVCT) is up over 27% at $2.37
Acasti Pharma Inc. (ACST) is up over 25% at $1.39
DBV Technologies S.A. (DBVT) is up over 22% at $1.70
Context Therapeutics Inc. (CNTX) is up over 14% at $3.57
MorphoSys AG (MOR) is up over 6% at $10.04
Eqonex Limited (EQOS) is up over 6% at $2.52
Society Pass Incorporated (SOPA) is up over 5% at $11.19

In the Red

CalAmp Corp. (CAMP) is down over 15% at $8.40
Datasea Inc. (DTSS) is down over 12% at $1.45
Biofrontera Inc. (BFRI) is down over 9% at $10.00
Adagio Therapeutics, Inc. (ADGI) is down over 9% at $9.29
iSpecimen Inc. (ISPC) is down over 8% at $13.01

Bitcoin price hovers near $48,000 after Tuesday fall

Central Banks will issue their own electronic currency: Strategist

Kyriba senior strategist Wolfgang Koester on 2022 market outlook and the crypto market.

Bitcoin is trying to claw its way back following this week's decline.

The cryptocurrency dropped more than 6% to $47,606.92 on Tuesday.

Major cryptocurrencies have tumbled amid concerns about the omicron variant and holiday travel disruptions around the globe.

Another factor putting pressure on cryptos is a total of 129,800 option contracts worth more than $6 billion set to expire on Friday, according to data provided by Skew. 

CLICK HERE FOR FOX BUSINESS' REAL-TIME CRYPTOCURRENCY PRICING DATA 

Bitcoin is down 31% from the year's high of $69,000 on Nov. 10.

It has been a rough December for bitcoin, trading down more than 16% month-to-date and it's on pace for its worst month since May 2021, when it dropped more than 35%.

CLICK HERE TO READ MORE ON FOX BUSINESS

Ether, the coin linked to the ethereum blockchain network, dropped 5.57 % to $3,812.6 on Tuesday.

Gold declines ₹ 216; silver tanks ₹ 179

In the international market, gold was trading lower.

Gold price in the national capital on Wednesday declined by ₹ 216 to ₹ 47,010 per 10 gram in tandem with decline in international precious metal prices, according to HDFC Securities.

In the previous trade, the yellow metal settled at ₹ 47,226 per 10 gram.

Silver also tanked ₹ 179 to ₹ 61,348 per kg from ₹ 61,527 per kg in the previous trade.

In the international market, gold was trading lower at $ 1,804 per ounce and silver was flat at $ 23.07 per ounce.

"Gold prices traded weak with spot gold prices at COMEX trading at $ 1,804 per ounce on Wednesday. A stronger dollar also kept pressure on the precious metal for the day," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.

U.S. Economic Growth Unexpectedly Upwardly Revised To 2.3% In Q3

U.S. gross domestic product increased by more than previously estimated in the third quarter of 2021, according to revised data released by the Commerce Department on Wednesday.

The report said real GDP surged by 2.3 percent in the third quarter, reflecting an upward revision from the previously estimated 2.1 percent jump. Economists had expected the pace of GDP growth to be unrevised.

The stronger than previously estimated growth primarily reflected upward revisions to consumer spending and private inventory investment. A downward revision to exports limited the upside.

Despite the upward revision, the GDP growth in the third quarter still reflects a significant slowdown from the 6.7 percent spike in the second quarter.

The Commerce Department said the slowdown in the pace of GDP growth came as consumer spending increased by 2.0 percent in the third quarter after soaring by 12.0 percent in the second quarter.

With regard to inflation, the annual rate of growth in core consumer prices, which exclude food and energy prices, was unchanged from the previous estimate of 3.6 percent.

Pre-market Movers: PIXY, NEW, CEMI, SYTA, AUVI…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.10 A.M. ET).

In the Green

ShiftPixy, Inc. (PIXY) is up over 63% at $1.83
Puxin Limited (NEW) is up over 23% at $0.37
Siyata Mobile Inc. (SYTA) is up over 18% at $3.49
Pop Culture Group Co., Ltd (CPOP) is up over 18% at $2.73
Flotek Industries, Inc. (FTK) is up over 17% at $0.93
E-Home Household Service Holdings Limited (EJH) is up over 9% at $1.56
Tuniu Corporation (TOUR) is up over 8% at $0.99
Moxian (BVI) Inc (MOXC) is up over 7% at $3.72
Petros Pharmaceuticals, Inc. (PTPI) is up over 5% at $4.12

In the Red

Chembio Diagnostics, Inc. (CEMI) is down over 19% at $1.25
Applied UV, Inc. (AUVI) is down over 18% at $2.91
Powerbridge Technologies Co., Ltd. (PBTS) is down over 10% at $0.62
Genfit SA (GNFT) is down over 5% at $4.80