U.S. stocks traded lower this morning, with the Dow Jones falling around 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.21% to 49,036.89 while the NASDAQ fell 0.42% to 24,559.64. The S&P 500 also fell, dropping, 0.14% to 7,128.92.
Leading and Lagging Sectors
Energy shares jumped by 1% on Wednesday.
In trading on Wednesday, communication services stocks fell by 0.7%.
Top Headline
Brinker International Inc. (NYSE:EAT) reported upbeat third-quarter earnings on Wednesday.
The company posted adjusted earnings of $2.90 per share, beating the analyst consensus estimate of $2.87. Revenue was $1.470 billion, in line with the Street view of $1.474 billion.
Brinker raised its fiscal 2026 adjusted EPS guidance to a range of $10.60 to $10.85, from a prior outlook of $10.45 to $10.85, compared with analysts’ estimate of $10.69. The company also updated its fiscal 2026 revenue guidance to $5.78 billion to $5.82 billion, from $5.76 billion to $5.83 billion. Analysts expect $5.809 billion.
Equities Trading UP
- SAGTEC GLOBAL Ltd (NASDAQ:SAGT) shares shot up 79% to $3.04 after the company reported fourth-quarter financial results.
- Shares of X T L Biopharmaceuticals Ltd (NASDAQ:XTLB) got a boost, surging 62% to $3.72 after the company announced it signed an agreement to be acquired by Psyga Bio.
- Inno Holdings Inc (NASDAQ:INHD) shares were also up, gaining 52% to $0.12.
Equities Trading DOWN
- Sangamo Therapeutics Inc (NASDAQ:SGMO) shares dropped 31% to $0.14 after the company announced transition to trading on OTCQB Venture Market.
- Shares of High-Trend International Group (NASDAQ:HTCO) were down 25% to $6.09.
- Cheetah Net Supply Chain Service Inc (NASDAQ:CTNT) was down, falling 21% to $3.70.
Commodities
In commodity news, oil traded up 3.4% to $103.31 while gold traded down 1% at $4,564.00.
Silver traded down 0.5% to $72.870 on Wednesday, while copper rose 0.1% to $5.9815.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.3%, while Spain's IBEX 35 Index fell 0.6%. London's FTSE 100 fell 0.7%, Germany's DAX fell 0.1% and France's CAC 40 slipped 0.3% during the session.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with China's Shanghai Composite gaining 0.71%, Hong Kong's Hang Seng Index surging 1.68% and India's BSE Sensex gaining 0.79%.
Economics
- U.S. wholesale inventories rose by 1.4% month-over-month to $932.8 billion in March, compared to a revised 0.9% gain in February.
- The goods deficit increased to $87.9 billion in March from $83.5 billion in the previous month and versus market estimates of an $87 billion gap.
- U.S. durable goods orders increased by 0.8% from the previous month to $318.9 billion in March versus a 1.2% decline in the previous month.
- U.S. housing starts rose 10.8% month-over-month to an annual rate of 1.502 million in March, compared to market estimates of 1.40 million.
- U.S. building permits declined 10.8% month-over-month in March to an annual rate of 1.372 million.
- U.S. mortgage applications declined by 1.6% from the previous week in the week ending April 24, following a 7.9% gain from the earlier period.
Photo via Shutterstock