Midway through trading Wednesday, the Dow traded down 0.92% to 33,997.95 while the NASDAQ fell 0.49% to 14,362.47. The S&P also fell, dropping 0.75% to 4,313.33.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,950,080 cases with around 705,280 deaths. India confirmed a total of at least 33,871,880 cases and 449,530 deaths, while Brazil reported over 21,499,070 COVID-19 cases with 598,820 deaths. In total, there were at least 235,908,850 cases of COVID-19 worldwide with more than 4,818,980 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer staples shares slipped by just 0.2% on Wednesday. Meanwhile, top gainers in the sector included Blue Apron Holdings, Inc. APRN, up 2.5% and Thorne HealthTech, Inc. THRN up 3%.
In trading on Wednesday, energy shares dipped 2%.
Top Headline
Acuity Brands, Inc. AYI reported better-than-expected results for its fourth quarter.
Acuity Brands reported quarterly adjusted earnings of $3.27 per share, beating analysts’ estimates of $2.85 per share. The company’s quarterly sales came in at $992.70 million versus expectations of $963.96 million.
Equities Trading UP
Voyager Therapeutics, Inc. VYGR shares shot up 55% to $3.83 after the company announced licensing option agreement with Pfizer for capsids generated from Voyager's RNA-driven TRACER screening technology.
Shares of Acer Therapeutics Inc. ACER got a boost, shooting 9% to $2.72. The FDA has accepted for review Acer Therapeutics and its partner, Relief Therapeutics Holding’s marketing application for ACER-001 (sodium phenylbutyrate) for Urea Cycle Disorders (UCDs).
Acuity Brands, Inc. AYI shares were also up, gaining 11% to $196.27 after reporting better-than-expected Q4 results.
Check out these big movers of the day
Equities Trading DOWN
Manchester United plc MANU shares tumbled 14% to $16.92. Manchester United reported an offering of 9.5 million shares by selling shareholders Kevin Glazer Irrevocable Exempt Family Trust and Edward S. Glazer Irrevocable Exempt Trust in a secondary equity offering.
Shares of Hovnanian Enterprises, Inc. HOV were down 15% to $81.43 as the company reduced its projections for the fourth quarter and full year.
Paltalk, Inc. PALT was down, falling 15% to $7.01. Paltalk’s filing showed registration for $50 million mixed securities shelf offering.
Commodities
In commodity news, oil traded down 1.9% to $77.47, while gold traded down 0.2% to $1,757.40.
Silver traded down 0.8% Wednesday to $22.425 while copper fell 1.3% to $4.1395.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.86%, the Spanish Ibex Index declined 1.3% and the German DAX 30 declined 1.2%. Meanwhile, the London’s FTSE 100 dropped 0.94%, French CAC 40 dipped 1.09% and Italy’s FTSE MIB dipped 1.04%.
Eurozone retail sales increased 0.3% from a month ago in August, while construction PMI climbed to 50.0 in September from 49.5 a month ago.
The IHS Markit/CIPS construction PMI for the UK dropped to 52.6 in September, while German construction PMI rose to 47.1 in September from 44.6 in August. Spain's industrial production rose 1.8% year-over-year in August versus a revised 3.3% growth in the previous month. French construction PMI increased to 48.9 in September from 44.9 in the earlier month.
Economics
Private businesses hired 568,000 workers in September versus a revised 340,000 gain in August.
US crude oil inventories climbed 2.346 million barrels in the week ending October 1, the Energy Information Administration said.
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