U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.61% to 47,399.75 while the NASDAQ rose 0.55% to 23,151.20. The S&P 500 also rose, gaining, 0.51% to 6,800.09.
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Leading and Lagging Sectors
Utilities shares jumped by 0.9% on Wednesday.
In trading on Wednesday, communication services stocks fell by 0.3%.
Top Headline
Deere & Company (NYSE:DE) shares fell more than 4% on Wednesday after the agricultural equipment giant posted fourth-quarter results and issued a worse-than-expected fiscal 2026 outlook.
The heavy machinery maker reported earnings per share of $3.93, beating the consensus of $3.88. It reported an 11% year-over-year (Y/Y) increase in quarterly sales to $12.39 billion, beating the consensus of $9.85 billion.
Deere expects fiscal 2026 net income of $4.0 billion to $4.75 billion, implying a year-over-year decline of 20% to 5.5%, and projects operating cash flow of $4.0 billion to $5.0 billion.
Equities Trading UP
- Pasithea Therapeutics Corp. (NASDAQ:KTTA) shares shot up 66% to $0.8100.
- Shares of Amber International Holding Limited (NASDAQ:AMBR) got a boost, surging 60% to $2.52 after the company reported better-than-expected third-quarter sales results and a $50 million buyback.
- Boqii Holding Limited (NYSE:BQ) shares were also up, gaining 47% to $2.59.
Equities Trading DOWN
- Lazydays Holdings, Inc. (NASDAQ:GORV) shares dropped 31% to $0.5284.
- Shares of MingZhu Logistics Holdings Limited (NASDAQ:YGMZ) were down 24% to $0.1415. MingZhu Logistics recently announced an $8 million registered direct offering.
- Digital Ally, Inc. (NASDAQ:DGLY) was down, falling 22% to $1.2965.
Commodities
In commodity news, oil traded up 0.1% to $57.99 while gold traded up 1.1% at $4,186.70.
Silver traded up 3.3% to $52.635 on Wednesday, while copper rose 1.7% to $5.1765.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.9%, while Spain's IBEX 35 Index rose 0.9%. London's FTSE 100 rose 0.8%, Germany's DAX 40 gained 0.7% and France's CAC 40 rose 0.7% 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.
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