U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Wednesday.
The Dow traded up 0.75% to 47,466.81 while the NASDAQ rose 0.93% to 23,240.04. The S&P 500 also rose, gaining, 0.82% to 6,821.37.
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Leading and Lagging Sectors
Information technology shares jumped by 1.5% on Wednesday.
In trading on Wednesday, communication services stocks fell by 0.4%.
Top Headline
U.S. crude oil inventories jumped by 2.77 million barrels in the week ending Nov. 21, following a 3.426 million-barrel decline in the previous week, and versus market estimates of a 0.5-million decrease.
Equities Trading UP
- Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) shares shot up 19% to $55.90 after the company reported better-than-expected quarterly financial results.
- Shares of Amber International Holding Limited (NASDAQ:AMBR) got a boost, surging 58% to $2.4901 after the company reported better-than-expected third-quarter sales results and a $50 million buyback.
- Petco Health and Wellness Company Inc (NASDAQ:WOOF) shares were also up, gaining 16% to $3.44 after the company reported better-than-expected third-quarter EPS results.
Equities Trading DOWN
- Nutanix Inc (NASDAQ:NTNX) shares dropped 18% to $48.41 as the company reported worse-than-expected first-quarter financial results and cut its FY26 sales guidance below estimates on Tuesday.
- Shares of Ambarella Inc (NASDAQ:AMBA) were down 15% to $77.13 following third-quarter results.
- Zscaler Inc (NASDAQ:ZS) was down, falling 10% to $261.36 after the company reported first-quarter financial results.
Commodities
In commodity news, oil traded up 0.1% to $58.01 while gold traded up 1.4% at $4,196.60.
Silver traded up 4.3% to $53.135 on Wednesday, while copper rose 2.1% to $5.1955.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 1.12%, while Spain's IBEX 35 Index rose 1.35%. London's FTSE 100 rose 0.94%, Germany's DAX 40 gained 1.03% and France's CAC 40 rose 0.90% during the session.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei gaining 1.85%, Hong Kong's Hang Seng gaining 0.13%, China's Shanghai Composite falling 0.15% and India's BSE Sensex gaining 1.21%.
Economics
- U.S. durable goods orders increased 0.5% month-over-month in September compared to a revised 3.0% gain in August.
- U.S. initial jobless claims declined by 6,000 from the previous week to 216,000 in the week ending Nov. 22.
- The Chicago PMI declined to 36.3 in November from 43.8 in the previous month and versus market expectations of 44.3.
- U.S. crude oil inventories jumped by 2.77 million barrels in the week ending Nov. 21, following a 3.426 million-barrel decline in the previous week, and versus market estimates of a 0.5-million decrease.
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