U.S. stocks traded lower this morning, with the Dow Jones index dropping around 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.19% to 51,764.17 while the NASDAQ dipped 0.29% to 27,164.38. The S&P 500 also fell, dropping, 0.15% to 7,752.70.
Leading and Lagging Sectors
Energy shares jumped by 0.9% on Wednesday.
In trading on Wednesday, utilities stocks fell by 1%.
Top Headline
General Mills Inc (NYSE:GIS) reported better-than-expected earnings for the first quarter on Wednesday.
The company posted quarterly earnings of 75 cents per share which beat the analyst consensus estimate of 72 cents per share. The company reported quarterly sales of $4.390 billion which beat the analyst consensus estimate of $4.351 billion.
Equities Trading UP
- Beneficient (NASDAQ:BENF) shares shot up 407% to $2.73 after the company announced a strategy to eliminate HCLP debt and Heppner Equity Interests.
- Shares of Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR) got a boost, surging 237% to $6.30. Wheeler Real Estate Investment Trust recently announced a 1-for-9 reverse stock split.
- Professional Diversity Network Inc (NASDAQ:IPDN) shares were also up, gaining 67% to $6.53.
Equities Trading DOWN
- Jaguar Health Inc (NASDAQ:JAGX) shares dropped 51% to $16.93. Jaguar Health shares jumped over 1,190% on Tuesday after the company announced that the FDA granted the Napo Pharmaceutical’s request for a fee waiver associated with the Prescription Drug User Fee Act for Mytesi.
- Shares of Adagio Medical Holdings Inc (NASDAQ:ADGM) were down 38% to $0.30. Adagio Medical’s board completed a strategic review and has initiated a formal process to explore alternatives to maximize shareholder value.
- IM Cannabis Corp (NASDAQ:IMCC) was down, falling 34% to $2.73.IM Cannabis announced a $1.31 million registered direct offering of 655,000 common shares at a price of $2/share. The company also announced it will acquire a 51% stake in Space Defense Innovations.
Commodities
In commodity news, oil traded up 0.8% to $91.20 while gold traded down 0.9% at $4,338.90.
Silver traded down 1.6% to $65.480 on Wednesday, while copper fell 0.7% to $6.7860.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.2%, while Spain’s IBEX 35 Index fell 0.2%, London’s FTSE 100 slipped 0.1%, Germany’s DAX dipped 0.5%, while France’s CAC 40 declined 0.3%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Hong Kong’s Hang Seng index dipping 1.01%, China’s Shanghai Composite falling 0.39% and India’s BSE Sensex gaining 0.40%.
Economics
The volume of mortgage applications declined by 1.5% in the third week of September, compared to a 4.1% drop in the previous period.
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