Wesana Health Holdings Inc
Change company Symbol lookup
Select an option...
WSNAF Wesana Health Holdings Inc
ZEUS Olympic Steel Inc
EJH E-Home Household Service Holdings Ltd
AMZN Amazon.com Inc
BGTTF Goat Industries Ltd
BRDS Bird Global Inc
GHM Graham Corp
DRMA Dermata Therapeutics Inc
VGAS Verde Clean Fuels Inc
CURV Torrid Holdings Inc

Based in Canada
Company profile

Wesana Health Holdings Inc is a Canada-based life science company. The Company is engaged in development and delivery of psychedelic and naturally sourced therapies to treat traumatic brain Injury related depressive disorder, anxiety and migraines through drug development and predictive diagnostics. The Company is also engaged in care development through its therapies and patent-pending protocols, and in care delivery through activating a multidisciplinary, technology-supported clinical model. Its SANA-013 is a novel composition and method of use that provides sustained effects and benefit over time. The Company’s novel and proprietary depression treatment protocol that includes a single high dose of psilocybin followed by a maintenance regimen of a micro dose of psilocybin combined with cannabidiol, significantly reduced depressive behaviors in a validated animal model.

Closing Price
Day's Change
0.00 (0.00%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Dow, S&P 500 book third straight day of losses as investors digest mixed signals on economy

4:26 pm ET January 19, 2023 (MarketWatch)

By Isabel Wang and William Watts

U.S. stocks ended lower for a third straight session Thursday as investors weighed mixed signals on the strength of the economy and digested another round of corporate earnings reports ahead of a Federal Reserve policy meeting in early February.

How stocks traded

On Wednesday, the Dow fell more than 600 points, or 1.8%, while the S&P 500 shed 1.6% and the Nasdaq Composite declined 1.2%. The S&P 500's decline was its biggest since Dec. 15, chopping its gain for the year to just 2.3%.

What drove markets

Dow Jones Industrial Average and S&P 500 index extended their losses to a third session on Thursday with investors focusing on further signs of a weakening U.S. economy, while weighing on the latest remarks from the Federal Reserve officials. The Nasdaq Composite fell 1%, notching its second day of losses.

Good news for the economy also appeared to be bad news for stocks this week. First-time claims for unemployment benefits unexpectedly fell by 15,000 to 190,000 in the seven days ending Jan 14., the lowest reading since September. Construction on new U.S. homes fell a seasonally adjusted 1.4% in December to 1.38 million, the Commerce Department said Thursday.

"This morning's data illustrates that the increasingly darkening cloud of weakening economic data has a silver lining--a persistently strong labor market," said José Torres, senior economist at Interactive Brokers.

Torres thinks unemployment claims show that it's a job seekers' labor market despite high-profile technology sector layoffs. Employers are still hesitant to lay off workers due to a tight labor market, low labor force participation and the nation having 1.8 job openings for every unemployed individual, he said.

Data on Wednesday showed December retail sales dropped 1.1%, contracting for the second month in a row. Meanwhile, industrial production slumped 0.7% in December in the biggest monthly decline since September 2021.

"What just some weeks ago would have seen markets cheering the weaker data as it would have suggested correctly that the Fed's aggressive rate hike campaign is doing its job in tamping down the demand side of the economy, is now being judged more harshly with bad news no longer enjoying a warm welcome by traders and investors alike," said Quincy Krosby, chief global strategist for LPL Financial, in a note.

See: Fed's Brainard: Interest rate policy will have to be restrictive 'for some time' even with recent moderation of inflation

Nevertheless, Federal Reserve Vice Chairman Lael Brainard said on Thursday that interest rate policy will have to be restrictive "for some time" even with the recent moderation of inflation. Susan Collins, the president of the Boston Fed, also reiterated the need for the central bank to raise the policy rates further to get inflation on a steady downward path.

Their comments came in a day after St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester both reiterated that they thought interest rates needed to go higher still to ensure inflation falls back to the central bank's 2% target, though Dallas Fed President Lorie Logan said the Fed should slow down the pace of its interest-rate hikes until more data shows where the economy is headed.

See: What does the debt ceiling mean for markets? Here's why investors are concerned

Treasury Secretary Janet Yellen confirmed to top U.S. lawmakers in a letter that her department began to use "extraordinary measures" on Thursday due to the federal government hitting its ceiling for borrowing. She had indicated last week that such a move was coming.

Of particular concern to equity bulls is that the S&P 500 index failed to break decisively above the 4,000 level this week and has been rebuffed again by its 200-day moving average, meaning the bear market downtrend remains intact.

A mixed fourth-quarter earnings reporting season to date has also constrained bullish impulses. Investors awaited Netflix Inc. (NFLX) earnings after the bell Thursday.

Over the past few weeks, earnings expectations for the first quarter and the second quarter of 2023 switched from year-over-year growth to year-over-year declines, said John Butters, senior earnings analyst at FactSet, in a Wednesday update.

Expectations for both quarters have been falling over the past few months, he added.

On June 30, the estimated earnings growth rate for Q1 2023 was 9.6%, and the estimated earnings growth rate for Q2 2023 was 10.3%, he said. By Sept. 30, the estimated earnings growth rate for Q1 2023 was 6.3%, and the estimated earnings growth rate for Q2 2023 was 5.1%. As of Wednesday, the estimated earnings decline for Q1 2023 is -0.6%, and the estimated earnings decline for Q2 2023 is -0.7%, FactSet data show.

Companies in focus

--Jamie Chisholm contributed to this article.

-Isabel Wang


(END) Dow Jones Newswires

January 19, 2023 16:26 ET (21:26 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.