Following the market opening Wednesday, the Dow traded up 0.30% to 36,508.19 while the NASDAQ rose 0.09% to 15,796.27. The S&P also rose, gaining 0.25% to 4,798.34.
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
Information technology shares climbed 0.4% on Wednesday. Meanwhile, top gainers in the sector included Calix, Inc. CALX, up 14% and Western Digital Corporation WDC up 7%.
In trading on Wednesday, energy shares fell 0.6%.
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
Insignia Systems, Inc. ISIG shares shot up 46% to $27.79. Insignia Systems shares climbed around 65% on Tuesday as traders circulated a social media post on a potential short squeeze.
Shares of Pop Culture Group Co., Ltd CPOP got a boost, shooting 23% to $2.84 after gaining more than 35% on Tuesday.
Takung Art Co., Ltd. TKAT shares were also up, gaining 19% to $4.5198.
Check out these big movers of the day
Equities Trading DOWN
Medallion Financial Corp. MFIN shares tumbled 51% to $4.14 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 29% to $2.53 after the company announced pricing of an $8 million underwritten public offering.
FuelCell Energy, Inc. FCEL was down, falling 15% to $4.98 after the company reported worse-than-expected Q4 results.
Commodities
In commodity news, oil traded down 0.6% to $75.53, while gold traded down 0.8% to $1,795.60.
Silver traded down 1% Wednesday to $22.89 while copper fell 1% to $4.3880.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.1%, the Spanish Ibex Index fell 0.4% and the German DAX 40 dropped 0.4%. Meanwhile, the FTSE 100 gained 1%, while French CAC 40 slipped 0.1% and Italy’s FTSE MIB fell 0.6%.
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.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
The Treasury will auction 7-year notes at 1:00 p.m. ET.
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