U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 150 points on Wednesday.
The Dow traded down 0.30% to 53,419.33 while the NASDAQ declined 0.27% to 26,081.96. The S&P 500 also fell, dropping, 0.07% to 7,671.71.
Leading and Lagging Sectors
Industrials shares jumped by 1% on Wednesday.
In trading on Wednesday, consumer discretionary stocks fell by 0.7%.
Top Headline
J.M. Smucker Co (NYSE:SJM) shares gained around 3% on Wednesday after the company reported better-than-expected first-quarter financial results and raised its FY27 guidance above estimates.
JM Smucker reported quarterly earnings of $3.24 per share which beat the analyst consensus estimate of $2.22 per share. The company reported quarterly sales of $2.219 billion which beat the analyst consensus estimate of $2.131 billion.
Equities Trading UP
- Cre8 Enterprise Ltd (NASDAQ:CRE) shares shot up 180% to $7.20 after the company reported a year-over-year increase in the number of customers served in H1 2026.
- Shares of Abercrombie & Fitch Co (NYSE:ANF) got a boost, surging 34% to $146.02 after the company reported better-than-expected second-quarter financial results and raised its FY26 guidance above estimates.
- YY Group Holding Ltd (NASDAQ:YYGH) shares were also up, gaining 72% to $1.98 after the company announced a supplemental agreement canceling its $5.94 million Second Convertible Note Tranche and Warrants.
Equities Trading DOWN
- Greenland Mines Ltd (NASDAQ:GRML) shares dropped 44% to $5.40 after the company announced a proposed public offering.
- Shares of Wetour Robotics Ltd (NASDAQ:WETO) were down 36% to $18.15 after the company announced it entered into an agreement with Rodman & Renshaw to sell up to $75 million of shares.
- Qfin Holdings Inc – ADR (NASDAQ:QFIN) was down, falling 15% to $9.77 after the company reported a year-over-year decrease in second-quarter financial results.
Commodities
In commodity news, oil traded down 0.1% to $82.34 while gold traded down 0.9% at $4,652.60.
Silver traded down 1.1% to $67.93 on Wednesday, while copper fell 1.5% to $6.6115.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.3%, while Spain’s IBEX 35 Index rose 0.5%, London’s FTSE 100 rose 0.2%, Germany’s DAX gained 0.6%, while France’s CAC 40 rose 0.7%.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 gaining 0.62%, Hong Kong’s Hang Seng index rising 0.56%, China’s Shanghai Composite rising 0.59% and India’s BSE Sensex falling 0.24%.
Economics
- The Personal Consumption Expenditures (PCE) price index, rose by 3.7% year-over-year in July, against economist forecasts of 3.6%, the Bureau of Economic Analysis said Wednesday.
- U.S. gross domestic product rose at a 1.5% annualized rate in the second quarter, matching forecasts.
- Personal income rose $115.1 billion, or 0.4% on the month, double the 0.2% economists expected and twice June’s pace.
- Personal spending was up 0.2%, rising to $36.3 billion in July.
- U.S. durable goods orders climbed by 1.1% month-over-month to $339.3 billion in July.
- The volume of mortgage applications declined by 1% in the third week of August.
- U.S. crude inventories climbed by 0.095 million barrels to 428.9 million barrels in the week ended Aug. 21, versus market estimates of a 0.6 million-barrel rise.
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