Midway through trading Wednesday, the Dow traded down 0.04% to 30,674.36 while the NASDAQ rose 0.25% to 13,646.18. The S&P also rose, gaining 0.24% to 3,835.48.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 26,436,590 cases with around 446,900 deaths. India confirmed a total of at least 10,777,280 confirmed cases and 154,590 deaths, while Brazil reported over 9,283,410 COVID-19 cases with 226,300 deaths. In total, there were at least 103,972,190 cases of COVID-19 worldwide with over 2,255,490 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares rose 3.7% on Wednesday. Meanwhile, top gainers in the sector included Clean Energy Fuels Corp. CLNE, up 18%, and Gevo Inc GEVO, up 11%.
In trading on Wednesday, real estate shares fell by 0.9%.
Top Headline
Alphabet Inc. GOOGL reported better-than-expected results for its fourth quarter.
Alphabet reported quarterly earnings of $22.30 per share, beating analysts’ expectations of $15.90 per share. The company posted revenue of $56.90 billion, versus estimates of $53.13 billion.
Equities Trading UP
Sino-Global Shipping America, Ltd. SINO shares shot up 60% to $7.57
after the company announced a newly-appointed Chief Operating Officer and Chief Technology Officer to spearhead its efforts to enter Bitcoin mining.
Shares of GW Pharmaceuticals plc GWPH got a boost, shooting 46% to $214.00 after the company announced it will be acquired by Jazz Pharmaceuticals for $7.2 billion.
Tyme Technologies Inc TYME shares were also up, gaining 86% to $3.38 after the company was granted US patent claims covering the use of TYME-19 to treat COVID-19 infections.
Check out these big movers of the day
Equities Trading DOWN
Vaxart, Inc. VXRT shares tumbled 52% to $11.19 after reporting that neutralizing antibodies were not detected in volunteers after a single dose of its experimental oral COVID-19 vaccine candidate, VXA-CoV2-1, in a Phase 1 trial of 35 healthy adults.
Shares of Moleculin Biotech, Inc. MBRX were down 26% to $4.74 after the company priced its 14,273,684 share common stock offering at $4.75 per share.
Iteris, Inc. ITI was down, falling 13% to $6.20 after reporting downbeat quarterly results.
Commodities
In commodity news, oil traded up 2.1% to $55.93, while gold traded up 0.2% to $1,836.10.
Silver traded up 2.1% Wednesday to $26.965 while copper rose 1% to $3.5595.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.36%, the Spanish Ibex Index rose 0.87% and the German DAX 30 gained 0.78%. Meanwhile, the French CAC 40 rose 0.02%, London’s FTSE 100 slipped 0.08% and Italy’s FTSE MIB surged 2.19%.
Annual inflation rate in the Eurozone increased to 0.9% in January, while producer prices rose 0.8% in December. The IHS Markit Eurozone services PMI rose to 45.4 in January versus a preliminary estimate of 45. UK services PMI declined to 39.5 in January from 49.4 in December.
Economics
US private businesses hired 174,000 workers in January versus a revised 78,000 drop in the previous month.
The IHS Markit services PMI rose to 58.3 in January from a preliminary reading of 57.8.
The ISM services PMI rose to 58.7 in January from 57.7 in December.
US crude oil inventories declined 1 million barrels last week, the Energy Information Administration said.
Philadelphia Fed President Patrick Harker is set to speak at 2:00 p.m. ET.
Federal Reserve Bank of Cleveland President Loretta Mester will speak at 5:00 p.m. ET.
Federal Reserve Bank of Chicago President Charles Evans is set to speak at 5:00 p.m. ET.
Federal Reserve Bank of Dallas President Robert Kaplan will speak at 6:05 p.m. ET.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
