Mid-Day Market Update: Puxin Jumps After Q2 Results; Applied UV Shares Slide

Midway through trading Wednesday, the Dow traded up 0.15% to 36,453.25 while the NASDAQ fell 0.43% to 15,714.03. The S&P also fell, dropping 0.03% to 4,784.87.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 54,148,540 cases with around 842,160 deaths. India confirmed a total of at least 34,808,880 cases and 480,590 deaths, while Brazil reported over 22,254,700 COVID-19 cases with 618,720 deaths. In total, there were at least 283,309,330 cases of COVID-19 worldwide with more than 5,433,640 deaths.

Leading and Lagging Sectors

Materials shares climbed 0.3% on Wednesday. Meanwhile, top gainers in the sector included Ramaco Resources, Inc. METC, up 8% and GoldMining Inc. GLDG up 7%.

In trading on Wednesday, energy shares fell 0.3%.

Top Headline

The US goods trade deficit increased to an all-time high of $97.78 billion in November from a revised gap of $83.2 billion in the prior month, according to the advance estimate. Imports surged 4.7% to $252.43 billion, while exports fell 2.1% to $154.66 billion.

 

Equities Trading UP

Calix, Inc. CALX shares shot up 14% to $77.93 after it was announced the company will replace CIT Group in the S&P MidCap 400.

Shares of Puxin Limited NEW got a boost, shooting 112% to $0.6361 after reporting results for the second quarter.

Scienjoy Holding Corporation SJ shares were also up, gaining 16% to $6.26 as the company agreed to acquire Hongle.tv for $43.8 million.

Check out these big movers of the day

Equities Trading DOWN

Medallion Financial Corp. MFIN shares tumbled 39% to $5.16 after the U.S. Securities and Exchange Commission charged the company and its chief operating officer with fraud.

Shares of Applied UV, Inc. AUVI were down 28% to $2.57 after the company announced pricing of an $8 million underwritten public offering.

FuelCell Energy, Inc. FCEL was down, falling 15% to $4.9632 after the company reported worse-than-expected Q4 results.

Commodities

In commodity news, oil traded down 0.4% to $75.71, while gold traded down 0.5% to $1,802.30.

Silver traded down 1.4% Wednesday to $22.795 while copper fell 0.5% to $4.4105.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 dropped 0.23%, the Spanish Ibex Index fell 0.43% and the German DAX 40 dropped 0.73%. Meanwhile, the FTSE 100 gained 0.68%, while French CAC 40 slipped 0.38% and Italy’s FTSE MIB fell 0.44%.

Economics

The US goods trade deficit increased to an all-time high of $97.78 billion in November from a revised gap of $83.2 billion in the prior month, according to the advance estimate. Imports surged 4.7% to $252.43 billion, while exports fell 2.1% to $154.66 billion.

Wholesale inventories rose 1.2% to $769.9 billion in November.

The pending home sales index dropped 2.2% for November.

 

US crude inventories dropped 3.576 million barrels last week, the EIA said.

The Treasury will auction 7-year notes at 1:00 p.m. ET.

Check out the full economic calendar here