U.S. stocks traded mixed midway through trading, with the Dow Jones index falling more than 250 points on Wednesday.
The Dow traded down 0.56% to 45,456.80 while the NASDAQ rose 0.12% to 21,905.19. The S&P 500 also rose, gaining, 0.30% to 6,532.40.
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Leading and Lagging Sectors
Information technology shares jumped by 2.2% on Wednesday.
In trading on Wednesday, consumer staples stocks fell by 1.3%.
Top Headline
U.S. producer prices declined 0.1% month-over-month in August compared to a revised 0.7% gain in July and versus market expectations of a 0.3% rise.
Equities Trading UP
- Wearable Devices Ltd. (NASDAQ:WLDS) shares shot up 577% to $6.87 after the company reported a year-over-year increase in H1 EPS results. Also, the company announced it secured a patent for ‘Gesture and Voice-Controlled Interface Device’
- Shares of Cuprina Holdings (Cayman) Limited (NASDAQ:CUPR) got a boost, surging 142% to $1.7009 following the announcement of exclusive licensing rights to United Nations Industrial Development Organization and Global Environment Facility-validated medical waste recycling technology for Southeast Asia.
- Vimeo, Inc. (NASDAQ:VMEO) shares were also up, gaining 61% to $7.74 as the company agreed to be acquired by Bending Spoons in an all-cash transaction valued at $1.38 billion.
Equities Trading DOWN
- YY Group Holding Limited (NASDAQ:YYGH) shares dropped 53% to $0.4394 after the company reported the pricing of registered offering of ordinary shares and warrants.
- Shares of Synopsys, Inc. (NASDAQ:SNPS) were down 35% to $391.20 after the company reported worse-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance below estimates. Also, the company cut its FY25 adjusted EPS guidance below estimates.
- Rubrik, Inc. (NYSE:RBRK) was down, falling 15% to $83.96 after posting second-quarter results.
Commodities
In commodity news, oil traded up 1.6% to $63.63 while gold traded up 0.1% at $3,685.40.
Silver traded up 0.7% to $41.640 on Wednesday, while copper rose 1% to $4.6130.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.01%, while Spain's IBEX 35 Index rose 1.3%. London's FTSE 100 fell 0.13%, Germany's DAX 40 declined 0.40% and France's CAC 40 rose 0.14% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 0.87%, Hong Kong's Hang Seng gaining 1.01%, China's Shanghai Composite rising 0.13% and India's BSE Sensex gaining 0.40%.
Economics
- U.S. producer prices declined 0.1% month-over-month in August compared to a revised 0.7% gain in July and versus market expectations of a 0.3% rise.
- The volume of mortgage applications in the U.S. increased by 9.2% in the period ending Sept. 5.
- U.S. wholesale inventories increased by 0.1% month-over-month to $908.1 billion in July following a revised 0.2% gain in June.
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