U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 1% on Wednesday.
The Dow traded down 0.46% to 46,709.81 while the NASDAQ fell 1.22% to 22,674.38. The S&P 500 also fell, dropping, 0.62% to 6,693.83.
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Leading and Lagging Sectors
Health care shares jumped by 0.9% on Wednesday.
In trading on Wednesday, consumer discretionary stocks fell by 1.1%.
Top Headline
AT&T Inc. (NYSE:T) shares fell around 3% on Wednesday after the company announced financial results for its fiscal third quarter.
The telecom giant reported operating revenues of $30.71 billion, representing a 1.6% increase compared to the same period last year, which fell short of the analyst consensus estimate of $30.87 billion. Adjusted earnings per share (EPS) stood at $0.54, in line with the analyst consensus estimate.
Equities Trading UP
- Vicor Corporation (NASDAQ:VICR) shares shot up 28% to $84.29 after the company reported better-than-expected quarterly financial results.
- Shares of Winnebago Industries, Inc. (NYSE:WGO) got a boost, surging 24% to $39.19 after the company reported better-than-expected fourth-quarter financial results and issued FY26 guidance above estimates.
- Beyond Meat, Inc. (NASDAQ:BYND) shares were also up, gaining 101% to $7.27 on continued momentum. Catalysts include short interest, recent inclusion in the Roundhill Meme Stock ETF and a recent distribution partnership with Walmart.
Equities Trading DOWN
- Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT) shares dropped 59% to $9.42. The company announced interim results from its ongoing Phase 2 clinical trial of ARCT-032.
- Shares of Alector, Inc. (NASDAQ:ALEC) were down 50% to $1.6000 after the company announced it will discontinue the open-label extension for Latozinemab and reduce its workforce by about 49%.
- Obook Holdings Inc. (NASDAQ:OWLS) was down, falling 37% to $12.19 after the stock opened for trade recently. The stock may be experiencing post-IPO volatility.
Commodities
In commodity news, oil traded up 1.4% to $58.63 while gold traded down 0.7% at $4,080.50.
Silver traded up 0.9% to $48.130 on Wednesday, while copper rose 0.4% to $4.9835.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.08%, while Spain's IBEX 35 Index rose 0.34%. London's FTSE 100 rose 1.15%, Germany's DAX 40 fell 0.39% and France's CAC 40 fell 0.48% during the session.
Asia Pacific Markets
Asian markets closed lower on Wednesday, with Japan's Nikkei 225 falling 0.02%, Hong Kong's Hang Seng index declining 0.94% and China's Shanghai Composite declining 0.07%.
Economics
- The volume of mortgage applications declined by 0.3% from the previous week during the week ending Oct. 17.
- U.S. crude oil inventories declined by 0.961 million barrels in the week ending Oct. 17, compared to market estimates of a 1.2-million gain.
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