U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.09% to 51,398.68 while the NASDAQ rose 0.48% to 26,926.89. The S&P 500 also rose, gaining, 0.27% to 7,691.35.
Leading and Lagging Sectors
Information technology shares jumped by 0.9% on Wednesday.
In trading on Wednesday, real estate stocks fell by 0.6%.
Top Headline
Jabil Inc (NYSE:JBL) posted better-than-expected earnings for the fourth quarter.
The company reported quarterly earnings of $4.40 per share which beat the analyst consensus estimate of $4.06 per share. The company reported quarterly sales of $10.616 billion which beat the analyst consensus estimate of $9.693 billion.
Jabil said it sees FY2027 adjusted EPS of $17.55, versus market estimates of $16.80. The company sees sales of $44.500 billion versus expectations of $42.643 billion.
Equities Trading UP
- NewGenIvf Group Ltd (NASDAQ:NIVF) shares shot up 201% to $0.22. NewGenIvf Group shares dipped 79% on Tuesday after the company announced it priced its $1.25 million public offering of 17,857,143 share or pre-funded warrants at $0.07 per share.
- Shares of Connect Biopharma Holdings Ltd (NASDAQ:CNTB) got a boost, surging 66% to $1.64 after the company announced preliminary topline data from its global Phase 2 study evaluating rademikibart.
- Neo-Concept International Grp Hldngs Ltd (NASDAQ:NCI) shares were also up, gaining 18% to $1.49. Neo-Concept International Group announced the pricing of $2.0 million registered direct offering.
Equities Trading DOWN
- Darkiris Inc. (NASDAQ:DKI) shares dipped 39% to $1.5550 after the company issued business update on Cine3.AI global expansion and entertainment technology ecosystem.
- Shares of Decent Holding Inc (NASDAQ:DXST) were down 31% to $2.08.
- Rafael Holdings Inc (NYSE:RFL) was down, falling 34% to $1.34 after the company announced topline results from the Pivotal Phase 3 TransportNPC™ Study of Trappsol Cyclo in Niemann-Pick Disease Type C (NPC).
Commodities
In commodity news, oil traded up 1.1% to $90.37 while gold traded up 1.5% at $4,241.00.
Silver traded up 0.7% to $61.550 on Wednesday, while copper rose 0.6% to $6.6425.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, while Spain’s IBEX 35 Index rose 0.1%, London’s FTSE 100 rose 0.1%, Germany’s DAX fell 0.2%, while France’s CAC 40 slipped 0.4%.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 jumping 1.94%, Hong Kong’s Hang Seng index gaining 0.37%, China’s SSE Composite Index gaining 0.31% and India’s BSE Sensex falling 0.07%.
Economics
- The personal consumption expenditures (PCE) price index rose 0.3% month-over-month, below economists’ expectations of 0.4%.
- On an annual basis, headline PCE inflation held at 3.4%, matching July’s revised reading and below the 3.7% consensus.
- Core PCE, which excludes volatile food and energy prices, rose 0.2% month-over-month, compared with a 0.3% forecast. The annual core rate slowed to 3.0% from 3.3%, below expectations of 3.3%.
- Second-quarter GDP growth was revised up, to 2.2% from 1.5%.
- U.S. private businesses added 90,000 jobs in September, above market estimates of 70,000, compared to a revised 36,000 gain in August.
- The U.S. goods trade deficit increased to $132.6 billion in August from $118.9 billion in the previous month.
- Personal income rose by 0.2% month-over-month in August.
- U.S. personal consumption expenditures rose by 0.9%, in August.
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