U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Wednesday.
The Dow traded up 0.18% to 44,319.31 while the NASDAQ gained 0.62% to 20,545.29. The S&P 500 also rose, gaining, 0.31% to 6,245.11.
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Leading and Lagging Sectors
Communication services shares jumped by 1.1% on Wednesday.
In trading on Wednesday, consumer staples stocks dipped by 1%.
Top Headline
U.S. crude oil inventories increased by 7.070 million barrels in the week ended July 4, recording the biggest gain since January, the EIA said.
Equities Trading UP
- Calidi Biotherapeutics, Inc. (NASDAQ:CLDI) shares shot up 353% to $1.48. The stock's surge comes on the heels of a development in the healthcare sector. Calidi Biotherapeutics has been making headlines for its innovative approaches to cancer treatment.
- Shares of SU Group Holdings Limited (NASDAQ:SUGP) got a boost, surging 155% to $1.1609 after the company was awarded an HK$88.5 million hospital contract.
- Evoke Pharma, Inc. (NASDAQ:EVOK) shares were also up, gaining 171% to $7.20 after the company announced it received a notice of allowance for the U.S. patent application covering GIMOTI in patients with moderate to severe symptoms of Gastroparesis.
Equities Trading DOWN
- Bitmine Immersion Technologies, Inc. (NASDAQ:BMNR) shares dropped 47% to $59.22. BitMine Immersion Technologies filed for mixed shelf.
- Shares of RxSight, Inc. (NASDAQ:RXST) were down 42% to $7.39 after the company cut its 2025 revenue guidance from $160M–$175M to $120M–$130M.
- Vertical Aerospace Ltd. (NASDAQ:EVTL) was down, falling 31% to $4.77 as the company announced the pricing of $60 million underwritten public offering at a price of $5/share.
Commodities
In commodity news, oil traded up 0.6% to $68.74 while gold traded down 0.1% at $3,315.70.
Silver traded down 0.4% to $36.610 on Wednesday, while copper fell 3.8% to $5.4715.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.71%, while Spain's IBEX 35 Index rose 1.07%. London's FTSE 100 gained 0.13%, Germany's DAX 40 gained 1.32% and France's CAC 40 gained 1.40% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei gaining 0.33%, Hong Kong's Hang Seng falling 1.06%, China's Shanghai Composite declining 0.13% and India's BSE Sensex falling 0.21%.
Economics
- U.S. wholesale inventories declined by 0.3% month-over-month to $905.5 billion in May in-line with the preliminary estimate and compared to a 0.1% increase in the previous month.
- U.S. crude oil inventories increased by 7.070 million barrels in the week ended July 4, recording the biggest gain since January, the EIA said.
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