U.S. stocks traded lower this morning, with the Dow Jones falling around 0.1% on Wednesday. The U.S. federal government officially entered a shutdown at 12:01 a.m. on Wednesday, Oct. 1, after Congress failed to reach an agreement on a spending plan.
Following the market opening Wednesday, the Dow traded down 0.08% to 46,360.72 while the NASDAQ fell 0.36% to 22,577.49. The S&P 500 also fell, dropping, 0.29% to 6,669.38.
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Leading and Lagging Sectors
Health care shares jumped by 0.9% on Wednesday.
In trading on Wednesday, communication services stocks fell by 1.2%.
Top Headline
Conagra Brands Inc (NYSE:CAG) reported better-than-expected earnings for the first quarter on Wednesday.
The company posted quarterly earnings of 39 cents per share which beat the analyst consensus estimate of 33 cents per share. The company reported quarterly sales of $2.633 billion which beat the analyst consensus estimate of $2.615 billion.
Conagra Brands affirmed FY2026 adjusted earnings guidance of $1.70 to $1.85 per share.
Equities Trading UP
- Chijet Motor Company, Inc. (NASDAQ:CJET) shares shot up 173% to $0.4432 after the company entered into an MOU with institutional investors for an expanded private placement offering of up to $1 billion.
- Shares of Ryvyl Inc. (NASDAQ:RVYL) got a boost, surging 60% to $0.4708 after the company announced a $75 million merger agreement with RTB Digital.
- Healthcare Triangle, Inc. (NASDAQ:HCTI) shares were also up, gaining 25% to $3.27. Healthcare Triangle’s QuantumNexis EMR platform surpassed $20 million in processed revenue.
Equities Trading DOWN
- Cheer Holding, Inc. (NASDAQ:CHR) shares dropped 72% to $0.1876 after the company announced the pricing of its $8.5 million offering of approximately 12.69 million units at $0.67 per unit.
- Shares of Reitar Logtech Holdings Limited (NASDAQ:RITR) were down 35% to $4.60.
- Clean Energy Technologies, Inc. (NASDAQ:CETY) was down, falling 29% to $0.2033. Clean Energy Technology announced a 1-for-15 reverse stock split.
Commodities
In commodity news, oil traded down 0.7% to $61.95 while gold traded up 0.9% at $3,907.60.
Silver traded up 1.9% to $47.525 on Wednesday, while copper rose 0.4% to $4.8770.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.6%, while Spain's IBEX 35 Index rose 0.79%. London's FTSE 100 rose 0.7%, Germany's DAX 40 gained 0.3% and France's CAC 40 rose 0.4% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.85% and India's BSE Sensex gaining 0.89%.
Economics
- U.S. private businesses cut 32,000 jobs in September compared to a revised loss of 3,000 in the previous month, and compared to market estimates of a 50,000 gain.
- The volume of mortgage applications in the U.S. declined by 12.7% in the week ending Sept. 26.
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