U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Wednesday.
The Dow traded up 0.06% to 46,299.96 while the NASDAQ climbed 0.52% to 22,639.61. The S&P 500 also rose, gaining, 0.33% to 6,666.08.
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Leading and Lagging Sectors
Communication services shares jumped by 1.6% on Wednesday.
In trading on Wednesday, health care stocks rose by 0.1%.
Top Headline
Abbott Laboratories (NYSE:ABT) stock fell around 2.6% on Wednesday after the company reported muted sales in the third quarter and narrowed fiscal 2025 guidance.
The company reported third-quarter sales of $11.37 billion, slightly missing the consensus of $11.40 billion. The U.S. MedTech giant reported adjusted earnings of $1.30, in line with Wall Street estimates and within the management guidance of $1.28-$1.32.
Abbott Laboratories narrowed its fiscal 2025 adjusted earnings guidance from $5.10 to $5.20 per share to $5.12 to $5.18 per share, compared to the consensus of $5.15 per share.
Equities Trading UP
- Veritone, Inc. (NASDAQ:VERI) shares shot up 68% to $9.19 after the company announced new VDR contract wins with leading hyperscalers and updated its Q3 financial outlook.
- Shares of Genprex, Inc. (NASDAQ:GNPX) got a boost, surging 269% to $0.9208. The Texas-based company announced on Tuesday that its research collaborators will present preclinical data at the 2025 AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics, taking place from October 22 to October 26 in Boston.
- Omeros Corporation (NASDAQ:OMER) shares were also up, gaining 131% to $9.49 after the company announced Novo Nordisk acquired its global rights to Zaltenibart.
Equities Trading DOWN
- Yueda Digital Holding (NASDAQ:YDKG) shares dropped 86% to $0.2001 after the company reported the pricing of $28 million registered direct offering.
- Shares of Largo Inc. (NASDAQ:LGO) were down 43% to $1.43 as the company announced the pricing of $23.4 registered direct offering and private placement.
- Aqua Metals, Inc. (NASDAQ:AQMS) was down, falling 39% to $18.11. Aqua Metals raised $13 million from leading institutional investor to accelerate commercialization and strategic growth.
Commodities
In commodity news, oil traded up 0.3% to $58.89 while gold traded up 1.2% at $4,213.60.
Silver traded up 1.6% to $51.405 on Wednesday, while copper rose 0.1% to $5.0250.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.66%, while Spain's IBEX 35 Index rose 0.18%. London's FTSE 100 fell 0.11%, Germany's DAX 40 slipped 0.01% and France's CAC 40 surged 2.12% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 surging 1.76%, Hong Kong's Hang Seng index jumping 1.84%, China's Shanghai Composite rising 1.22% and India's BSE Sensex rising 0.70%.
Economics
The NY Empire State Manufacturing Index climbed 19.4 points to a reading of 10.7 in October, also topping market expectations of -1.0.
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