U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.41% to 49,375.99 while the NASDAQ surged 0.77% to 23,040.20. The S&P 500 also rose, gaining, 0.55% to 6,928.15.
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Leading and Lagging Sectors
Information technology shares gained by 0.8% on Wednesday.
In trading on Wednesday, energy stocks fell by 0.3%.
Top Headline
Lowe’s Companies (NYSE:LOW) reported upbeat earnings for the fourth quarter but issued weak earnings guidance.
The company posted quarterly earnings of $1.98 per share which beat the analyst consensus estimate of $1.94 per share. The company reported quarterly sales of $20.584 billion which beat the analyst consensus estimate of $20.334 billion.
Lowe’s said it sees FY2026 adjusted EPS of $12.25-$12.75, versus market estimates of $12.95. The company expects sales of $92.000 billion-$94.000 billion versus estimates of $93.229 billion.
Equities Trading UP
- XWELL, Inc. (NASDAQ:XWEL) shares shot up 172% to $1.02. The company announced a $31.3 million private placement.
- Shares of VS MEDIA Holdings Limited (NASDAQ:VSME) got a boost, surging 42% to $1.7098.
- Rayonier Advanced Materials Inc. (NYSE:RYAM) shares were also up, gaining 31% to $9.40.
Equities Trading DOWN
- CASI Pharmaceuticals, Inc. (NASDAQ:CASI) shares dropped 64% to $0.2888 as the company received the delisting decision from the Nasdaq Hearings Panel.
- Shares of Zenvia Inc. (NASDAQ:ZENV) were down 60% to $0.3321 after the company announced plan to voluntary delist from the Nasdaq Capital Market and deregister with the U.S. Securities and Exchange Commission.
- Oddity Tech Ltd. (NASDAQ:ODD) was down, falling 54% to $13.48 after the company reported fourth-quarter financial results and issued first-quarter sales guidance below estimates.
Commodities
In commodity news, oil traded down 0.2% to $65.53 while gold traded up 0.1% at $5,181.20.
Silver traded up 2.4% to $89.635 on Wednesday, while copper rose 1.2% to $6.0010.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.6%, while Spain's IBEX 35 Index rose 0.8%. London's FTSE 100 rose 0.9%, Germany's DAX gained 0.7% and France's CAC 40 rose 0.4% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 2.20%, Hong Kong's Hang Seng index gaining 0.66%, China's Shanghai Composite gaining 0.72% and India's BSE Sensex rising 0.06%.
Economics
The volume of mortgage applications in the US increased by 0.4% from the previous week during the third week of February, compared to a 2.8% gain in the earlier period.