U.S. stocks traded mixed this morning, with the Dow Jones index gaining more than 300 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.64% to 50,783.89 while the NASDAQ fell 0.34% to 26,564.98. The S&P 500 also fell, dropping, 0.05% to 7,515.12.
Leading and Lagging Sectors
Consumer discretionary shares jumped by 1.7% on Wednesday.
In trading on Wednesday, energy stocks fell by 1.9%.
Top Headline
Dick’s Sporting Goods (NYSE:DKS) shares fell around 5% on Wednesday after the company reported mixed results for the first quarter.
The company posted quarterly earnings of $2.90 per share which missed the analyst consensus estimate of $2.93 per share. The company reported quarterly sales of $5.165 billion which beat the analyst consensus estimate of $4.974 billion.
Equities Trading UP
- Astrotech Corp (NASDAQ:ASTC) shares shot up 156% to $6.32 after the company announced it approved a strategic initiative focused on lunar resource development, autonomous lunar industrial infrastructure and future Moon-based advanced computing and semiconductor manufacturing opportunities.
- Shares of BioRestorative Therapies Inc (NASDAQ:BRTX) got a boost, surging 137% to $0.59. Kaos Capital announced acquisition of a 4.9% stake in BioRestorative Therapies.
- Soligenix, Inc. (NASDAQ:SNGX) shares were also up, gaining 90% to $0.98 following the biotech's announcement that its ThermoVax platform can rapidly develop a Bundibugyo virus vaccine, addressing a World Health Organization-declared Ebola outbreak emergency.
Equities Trading DOWN
- Verra Mobility Corp (NASDAQ:VRRM) shares dropped 70% to $3.89 after the company cut its FY26 guidance below estimates. The company received a termination notice from Avis Budget Group for its contract. Also, Deutsche Bank and Baird downgraded their rating on the stock and lowered their respective price targets.
- Shares of Zscaler Inc (NASDAQ:ZS) were down 31% to $128.11 as the company after the company reported third-quarter financial results and issued fourth-quarter sales guidance with its midpoint below estimates.
- Artelo Biosciences Inc (NASDAQ:ARTL) was down, falling 27% to $1.25 after the company announced it filed a prospectus to offer up to $6.53 million in common stock.
Commodities
In commodity news, oil traded down 3.5% to $90.64 while gold traded down 1.7% at $4,427.30.
Silver traded down 3.2% to $74.160 on Wednesday, while copper fell 0.7% to $6.3480.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.4%, while Spain's IBEX 35 Index rose 0.3%. London's FTSE 100 rose 0.1%, Germany's DAX rose 0.4%, while France's CAC 40 surged 0.8%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 gaining 0.005%, Hong Kong's Hang Seng Index declining 1.06%, China's Shanghai Composite falling 1.25% and India's BSE Sensex declining 0.19%
Economics
U.S. mortgage applications declined by 8.3% in the third week of May, following a 2.3% fall in the previous period.
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