U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 50 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.22% to 44,398.83 while the NASDAQ gained 0.25% to 20,252.83. The S&P 500 also fell, dropping, 0.02% to 6,196.53.
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Leading and Lagging Sectors
Materials shares jumped by 0.5% on Wednesday.
In trading on Wednesday, health care stocks fell by 0.6%.
Top Headline
Shares of UniFirst Corporation UNF fell over 2% after the company reported mixed results for the third quarter on Wednesday.
The company posted quarterly earnings of $2.17 per share which beat the analyst consensus estimate of $2.09 per share. The company reported quarterly sales of $610.778 million which missed the analyst consensus estimate of $614.510 million.
UniFirst raised its FY2025 GAAP earnings guidance from $7.30-$7.70 per share to $7.60-$8.00 per share.
Equities Trading UP
- CID HoldCo, Inc. DAIC shares shot up 154% to $11.73.
- Shares of Mogo Inc. MOGO got a boost, surging 138% to $2.8748 after the company announced a $50 million bitcoin treasury authorization.
- Blue Gold Limited BGL shares were also up, gaining 63% to $117.27.
Equities Trading DOWN
- BioNexus Gene Lab Corp. BGLC shares dropped 47% to $5.90.
- Shares of Mustang Bio, Inc. MBIO were down 41% to $1.2106 after jumping 115% on Tuesday.
- Centene Corporation CNC was down, falling 37% to $35.99 after the company withdrew its previous 2025 GAAP and adjusted diluted EPS guidance, including the underlying guidance elements.
Commodities
In commodity news, oil traded up 0.5% to $65.75 while gold traded down 0.1% at $3,347.00.
Silver traded up 0.2% to $36.475 on Wednesday, while copper rose 1.3% to $5.1645.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 fell 0.2%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 fell 0.5%, Germany's DAX 40 gained 0.1% and France's CAC 40 gained 0.9% during the session.
Asia Pacific Markets
Asian markets closed lower on Wednesday, with Japan's Nikkei dipping 0.56%, China's Shanghai Composite falling 0.09% and India's BSE Sensex falling 0.34%.
Economics
- U.S.-based employers announced job cuts of 47,999 in June versus 93,816 in the previous month and 48,786 in the year-ago period.
- The volume of mortgage applications increased by 2.7% from the previous week during the last week of June.
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