US Stocks Mixed; General Dynamics Earnings Top Views

U.S. stocks traded mixed this morning, with the Nasdaq Composite falling around 0.4% on Wednesday.

The Dow traded up 0.18% to 44,930.83 while the NASDAQ fell 0.40% to 19,655.47. The S&P 500 also fell, dropping, 0.10% to 6,061.66.

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Leading and Lagging Sectors

Utilities shares surged by 1% on Wednesday.

In trading on Wednesday, information technology shares fell by 0.9%.

Top Headline

General Dynamics Corp GD reported better-than-expected fourth-quarter fiscal 2024 results.

Revenue for the quarter increased 14.3% year over year to $13.338 billion, beating the consensus of $12.77 billion. EPS was $4.15 (up 14% YoY), above the consensus of $4.10.

Equities Trading UP

Signing Day Sports, Inc. SGN shares shot up 216% to $6.14. Signing Day Sports executed a stock purchase agreement to acquire majority of capital stock of Swifty Global.
Shares of Silexion Therapeutics Corp SLXNgot a boost, surging 44% to $1.9388. The company recently reported new preclinical data for SIL-204 showing significant tumor reduction in pancreatic cancer models.
60 Degrees Pharmaceuticals, Inc. SXTP shares were also up, gaining 39% to $1.0690 after the company announced a registered direct offering of common stock.

Equities Trading DOWN

ZK International Group Co., Ltd. ZKIN shares dropped 41% to $0.4820 after the company announced a 1-for-7 reverse stock split.
Shares of IMAC Holdings, Inc. BACK were down 34% to $0.8087. IMAC recently announced it launched Ignite Proteomics, its new subsidiary.
Blue Hat Interactive Entertainment Technology BHAT was down, falling 31% to $0.0401 after the company announced it received a Nasdaq non-compliance notice.

Commodities

In commodity news, oil traded down 0.5% to $73.37 while gold traded up 0.3% at $2,774.60.

Silver traded up 2.3% to $31.60 on Wednesday, while copper rose 0.9% to $4.2830.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.6%, Germany's DAX 40 gained 1% and France's CAC 40 fell 0.4%. Spain's IBEX 35 Index rose 0.9%, while London's FTSE 100 rose 0.5%.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.02% and India's BSE Sensex gaining 0.83%.

Economics

The U.S. trade deficit in goods increased to a record $122.11 billion in December versus a revised $103.5 billion gap in the prior month.
U.S. wholesale inventories declined by 0.5% month-over-month to $898 billion in December following a revised 0.1% fall in the previous month and versus market estimates of a 0.2% gain.

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