U.S. stocks traded mixed midway through trading, with the Dow Jones index falling around 0.2% on Wednesday.
The Dow traded down 0.23% to 45,985.50 while the NASDAQ gained 0.19% to 22,475.54. The S&P 500 also rose, gaining, 0.08% to 6,622.69.
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Leading and Lagging Sectors
Communication services shares rose by 0.8% on Wednesday.
In trading on Wednesday, energy stocks fell by 1.6%.
Top Headline
Lowe's Companies, Inc. (NYSE:LOW) shares gained more than 5% on Wednesday after the home improvement chain topped Wall Street profit expectations in the third quarter, but fell slightly short on sales.
Investors are also weighing a tightened earnings outlook, a flat view on comparable sales, and a higher full-year revenue target as the company leans into pro customers and online growth.
The company reported third-quarter adjusted earnings per share of $3.06 (+5.9% year over year), beating the analyst consensus estimate of $2.97.
Equities Trading UP
- WeShop Holdings Limited (NASDAQ:WSHP) shares shot up 413% to $169.32 amid volatility following the stock’s recent Nasdaq debut.
- Shares of Freight Technologies, Inc. (NASDAQ:FRGT) got a boost, surging 67% to $1.1045 after the company announced the commercial launch of Zayren, its AI-powered freight rate prediction and carrier matching platform.
- Semrush Holdings, Inc. (NYSE:SEMR) shares were also up, gaining 74% to $11.79 after Adobe announced plans to acquire Semrush.
Equities Trading DOWN
- Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) shares dropped 50% to $22.88 after the company reported topline Phase 3 RISE UP results showing mitapivat met the primary hemoglobin response endpoint but did not achieve statistical significance on sickle cell pain crises.
- Shares of Carver Bancorp, Inc. (NASDAQ:CARV) were down 51% to $1.4702 after the company announced it will de-register its common stock with the SEC and deist from the Nasdaq to the OTCQX market.
- Tempest Therapeutics, Inc. (NASDAQ:TPST) was down, falling 47% to $4.94 after the company announced it has signed agreements to acquire Factor Bioscience’s Dual-CAR T programs in an all-stock transaction.
Commodities
In commodity news, oil traded down 2.4% to $59.26 while gold traded up 0.3% at $4,077.20.
Silver traded up 0.2% to $50.615 on Wednesday, while copper rose 0.4% to $4.9945.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.03%, while Spain's IBEX 35 Index rose 0.39%. London's FTSE 100 fell 0.47%, Germany's DAX 40 declined 0.08% and France's CAC 40 slipped 0.18% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.34%, Hong Kong's Hang Seng falling 0.38%, China's Shanghai Composite gaining 0.18% and India's BSE Sensex gaining 0.61%.
Economics
- U.S. crude oil inventories declined by 3.426 million barrels in the week ending Nov. 14, compared to market estimates of a 0.6-million fall.
- U.S. exports of goods and services increased $0.2 billion to $280.8 billion in August, while US imports declined 5.1% to $340.4 billion.
- The U.S. trade deficit shrank to $59.6 billion in August from $78.2 billion in the previous month, compared to market expectations of a $61 billion gap.
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