U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 50 points on Wednesday.
The Dow traded up 0.17% to 41,321.67 while the NASDAQ fell 0.42% to 17,679.73. The S&P 500 also fell, dropping, 0.07% to 5,621.87.
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Leading and Lagging Sectors
Financials shares climbed by 0.2% on Wednesday.
In trading on Wednesday, energy shares fell by 0.8%.
Top Headline
The J. M. Smucker Company SJM reported upbeat quarterly earnings, but lowered its annual outlook.
JM Smucker reported quarterly earnings of $2.44 per share which beat the analyst consensus estimate of $2.17 per share. The company reported quarterly sales of $2.13 billion which met the analyst consensus estimate.
J.M. Smucker said it now expects annual net sales to rise in the range of 8.5% to 9.5%, versus its prior outlook of a 9.5% to 10.5% increase. It now sees fiscal 2025 adjusted earnings of $9.60 to $10.00 per share, versus earlier outlook of $9.80 to $10.20 per share.
Equities Trading UP
- Bolt Projects Holdings, Inc. BSLK shares shot up 87% to $3.8842.
- Shares of Virax Biolabs Group Limited VRAX got a boost, surging 49% to $7.29 after the company announced a distribution agreement to commercialize Mpox virus RT-PCR detection kits in Europe and the Middle East.
- BranchOut Food Inc. BOF shares were also up, gaining 47% to $0.9848 after the company reported a year-over-year increase in its H1 revenue results.
Equities Trading DOWN
- Agape ATP Corporation ATPC shares dropped 24% to $0.0896. AGAPE ATP announced a 1-for-20 reverse stock split effective Aug. 30.
- Shares of Neurocrine Biosciences, Inc. NBIX were down 19% to $123.20 despite its Phase 2 study of NBI-1117568 in schizophrenia meeting its primary endpoint.
- Super Micro Computer, Inc. SMCI was down, falling 18% to $451.42 after the company announced that it will delay its Form 10-K filing.
Commodities
In commodity news, oil traded down 1.1% to $74.73 while gold traded down 0.6% at $2,537.80.
Silver traded down 2.2% to $29.33 on Wednesday, while copper fell 1.7% to $4.2305.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.4%, Germany's DAX rose 0.8% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index rose 0.2%, while London's FTSE 100 fell 0.1%.
Bank lending to households in the Eurozone climbed by 0.5% year-over-year to €6.883 trillion in July. Industrial sales in Italy increased by 0.1% from the prior month in June. The consumer confidence indicator in France climbed to 92.1 in August from 90 in the prior month.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.22%, Hong Kong's Hang Seng Index falling 1.02%, China's Shanghai Composite Index falling 0.40% and India's BSE Sensex rising 0.09%.
The index of leading economic indicators in Japan came in at 109 in June compared to 111.1 in the prior month. The index of coincident economic indicators in Japan fell to 113.2 in June from 117.1 in May.
Economics
Mortgage applications in the U.S. rose 0.5% from the earlier week in the period ending Aug. 23.
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