U.S. stocks traded higher this morning, with the Dow Jones index gaining around 250 points on Wednesday.
The Dow traded up 0.55% to 47,970.89 while the NASDAQ rose 0.65% to 23,982.73. The S&P 500 also rose, gaining, 0.33% to 6,913.53.
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Leading and Lagging Sectors
Information technology shares jumped by 1.4% on Wednesday.
In trading on Wednesday, real estate stocks fell by 1.1%.
Top Headline
Verizon Communications (NYSE:VZ) reported mixed third-quarter financial results and affirmed 2025 guidance.
The company reported quarterly revenue growth of 1.5% year-over-year (Y/Y), reaching $33.8 billion, which missed the analyst consensus estimate of $34.3 billion. Adjusted EPS of $1.21 topped the analyst consensus estimate of $1.19.
Equities Trading UP
- Cambium Networks Corp (NASDAQ:CMBM) shares shot up 209% to $1.91 after the copmpany announced integration of its Cambium ONE Network solution with Starlink satellite Internet services.
- Shares of Purple Biotech Ltd – ADR (NASDAQ:PPBT) got a boost, surging 118% to $1.27 after the company achieved a commercially viable yield for IM1240, positioning the program for future development.
- Founder Group Ltd (NASDAQ:FGL) shares were also up, gaining 54% to $0.69.
Equities Trading DOWN
- Advent Technologies Holdings Inc (NASDAQ:ADN) shares dropped 51% to $1.33.
- Shares of Stride Inc (NYSE:LRN) were down 47% to $82.04 after the company provided second-quarter sales guidance below analyst estimates.
- Varonis Systems Inc (NASDAQ:VRNS) was down, falling 44% to $35.14 after the company reported third-quarter revenue below estimates and provided fourth-quarter guidance below expectations.
Commodities
In commodity news, oil traded up 0.3% to $60.31 while gold traded up 1% at $4,022.90.
Silver traded up 1.6% to $48.075 on Wednesday, while copper rose 1% to $5.2205.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index rose 0.4%. London's FTSE 100 rose 0.7%, Germany's DAX 40 fell 0.3% and France's CAC 40 fell 0.2% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 surging 2.17%, China's Shanghai Composite gaining 0.70% and India's BSE Sensex gaining 0.44%.
Economics
U.S. volume of mortgage applications jumped by 7.1% from the previous week in the period ending Oct. 17.
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