Nasdaq Surges Over 1%; US Durable Goods Orders Fall In December

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Wednesday.

The Dow traded up 0.57% to 49,814.98 while the NASDAQ rose 1.25% to 22,860.17. The S&P 500 also rose, gaining, 0.84% to 6,900.97.

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Leading and Lagging Sectors

Energy shares gained by 1.6% on Wednesday.

In trading on Tuesday, real estate stocks fell by 1.2%.

Top Headline

U.S. durable goods orders fell by 1.4% month-over-month in December, compared to a revised 5.4% gain in November.

Equities Trading UP
           

• Sensei Biotherapeutics Inc (NASDAQ:SNSE) shares shot up 179% to $25.50. The company announced a $200 million concurrent private placement.
• Shares of Rackspace Technology, Inc. (NASDAQ:RXT) got a boost, surging 235% to $1.40 after the company announced a collaboration with Palantir Technologies.
• Auddia Inc (NASDAQ:AUUD) shares were also up, gaining 46% to $1.22 after the company signed a definitive merger agreement to merge with Thramann Holdings.

Equities Trading DOWN

• Similarweb Ltd (NYSE:SMWB) shares dropped 37% to $2.46 after the company reported worse-than-expected fourth-quarter sales results and issued sales guidance below estimates.
• Shares of Axcelis Technologies Inc (NASDAQ:ACLS) were down 14% to $84.44 after the company reported fourth-quarter financial results and issued soft first-quarter EPS guidance.
• Prenetics Global Ltd (NASDAQ:PRE) was down, falling 12% to $19.09 following fourth-quarter results.

Commodities

In commodity news, oil traded up 4.2% to $64.93 while gold traded up 2.3% at $5,020.40.

Silver traded up 6.2% to $78.120 on Wednesday, while copper rose 2.7% to $5.7965.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.19%, while Spain's IBEX 35 Index rose 1.35%. London's FTSE 100 gained 1.23%, Germany's DAX rose 1.12% and France's CAC 40 climbed 0.81% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei gaining 1.02% and India's BSE Sensex gaining 0.34%.

Economics

• U.S. industrial production increased 0.7% month-over-month in January, compared to market estimates of a 0.4% gain.
• U.S. durable goods orders fell by 1.4% month-over-month in December, compared to a revised 5.4% gain in November.
• U.S. housing starts increased 6.2% month-over-month to an annualized rate of 1.404 million in December, compared to 1.322 million in November.
• U.S. building permits surged 4.3% in December to an annualized rate of 1.448 million, up from market estimates of 1.40 million.
• The Federal Reserve Bank of New York's general business activity index declined to -25.7 in February from -16.1 in January.

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