Nasdaq Surges 1%; Uber Sales Top Estimates

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 1% on Wednesday.

The Dow traded up 0.30% to 44,242.05 while the NASDAQ gained 1.03% to 21,132.45. The S&P 500 also rose, gaining, 0.72% to 6,344.65.

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Leading and Lagging Sectors

Consumer staples shares jumped by 1.3% on Wednesday.

In trading on Wednesday, health care stocks fell by 0.8%.

Top Headline

Uber Technologies UBER reported better-than-expected fiscal second-quarter 2025 results on Wednesday.

The company reported a quarterly revenue growth of 18% year-on-year to $12.65 billion, beating the analyst consensus estimate of $12.46 billion.

Uber reported adjusted EPS of 63 cents, which beat the analyst consensus estimate of 62 cents.

Equities Trading UP

Astera Labs, Inc. ALAB shares shot up 31% to $176.52 after the company reported better-than-expected second-quarter financial results and issued third-quarter guidance above estimates.
Shares of Ainos, Inc. AIMD got a boost, surging 54% to $3.58 after the company announced it secured a three-year subscription.
LivePerson, Inc. LPSN shares were also up, gaining 38% to $1.2250 after the company announced it expanded its partnership with Google Cloud to integrate its AI capabilities directly into the LivePerson Connected Experience Platform.

Equities Trading DOWN

Trending Investment Opportunities

Fractyl Health, Inc. GUTS shares dropped 47% to $0.9997 after the company announced a proposed public offering.
Shares of LifeMD, Inc. LFMD were down 43% to $6.75 after the company reported worse-than-expected second-quarter EPS and sales and issued weak third-quarter sales guidance.
Lantheus Holdings, Inc. LNTH was down, falling 33% to $48.73 after the company lowered FY2025 adjusted EPS and sales guidance below estimates.

Commodities

In commodity news, oil traded down 0.2% to $65.06 while gold traded down 0.1% at $3,432.10.

Silver traded up 0.3% to $37.93 on Wednesday, while copper rose 0.4% to $4.4020.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 fell 0.17%, while Spain's IBEX 35 Index gained 0.76%. London's FTSE 100 rose 0.30%, Germany's DAX 40 gained 0.13% and France's CAC 40 rose 0.05% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.60%, Hong Kong's Hang Seng gaining 0.03%, China's Shanghai Composite gaining 0.45% and India's BSE Sensex falling 0.21%.

Economics

The volume of mortgage applications in the US increased by 3.1% from the previous week during the final week of July, compared to a 3.8% decline from the prior period.
Crude oil inventories in the U.S. declined by 3.029 million barrels in the week ended Aug. 1, compared to market estimates of a 1.1 million decline.

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