U.S. stocks traded lower this morning, with the Dow Jones index falling around 350 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.72% to 52,404.12 while the NASDAQ dipped 0.32% to 26,337.64. The S&P 500 also fell, dropping, 0.28% to 7,652.41.
Leading and Lagging Sectors
Energy shares jumped by 1.8% on Wednesday.
In trading on Wednesday, consumer staples stocks fell by 1%.
Top Headline
Signet Jewelers Ltd (NYSE:SIG) shares jumped around 19% on Wednesday after the company reported better-than-expected second-quarter earnings and raised its FY27 adjusted EPS guidance.
Signet Jewelers reported quarterly earnings of $2.19 per share which beat the analyst consensus estimate of $1.74 per share. The company reported quarterly sales of $1.528 billion which missed the analyst consensus estimate of $1.530 billion.
Equities Trading UP
- Megan Holdings Ltd (NASDAQ:MGN) shares shot up 607% to $0.71. Megan Holdings announced a 1-for-30 share consolidation effective Sept. 17, superseding prior 1-for-40 plan.
- Shares of Opus Genetics Inc (NASDAQ:IRD) got a boost, surging 48% to $6.44 after the company announced 3- and 6-month results from the low-dose Cohort 1 of BIRD-1, its ongoing Phase 1/2 clinical trial evaluating OPGx-BEST1 in patients with BEST1-related retinal diseases, including Best vitelliform macular dystrophy and autosomal recessive bestrophinopathy.
- Agroz Inc (NASDAQ:AGRZ) shares were also up, gaining 41% to $0.32 after the company announced it signed a multi-year Strategic Fresh Produce Supply and Offtake Agreement with Harvest Hive.
Equities Trading DOWN
- Green Circle Decarbonize Technology Ltd (NASDAQ:GCDT) shares dropped 32% to $0.64 after the company announced a strategic partnership agreement with SANVO Fine Chemicals Group Limited for the mass production of BocaPCM-TES Panels in China.
- Shares of U Power Ltd (NASDAQ:UCAR) were down 18% to $7.12.
- ServiceTitan Inc (NASDAQ:TTAN) was down, falling 26% to $60.73 after the company reported second-quarter financial results and issued third-quarter sales guidance with its midpoint below estimates.
Commodities
In commodity news, oil traded up 3.1% to $95.87 while gold traded up 0.8% at $4,473.80.
Silver traded up 2% to $68.350 on Wednesday, while copper rose 0.1% to $6.8325.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 dipped 1.2%, while Spain’s IBEX 35 Index fell 1.8%, London’s FTSE 100 declined 1%, Germany’s DAX dipped 1.6%, while France’s CAC 40 tumbled 1.6%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 falling 0.19%, Hong Kong’s Hang Seng index falling 0.17%, China’s Shanghai Composite gaining 0.28% and India’s BSE Sensex dipping 1.08%.
Economics
The volume of mortgage applications dipped by 2.7% during the first week of September.
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