U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 150 points on Wednesday.
The Dow traded up 0.44% to 44,103.23 while the NASDAQ rose 0.11% to 19,302.79. The S&P 500 also rose, gaining, 0.28% to 6,000.98.
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Leading and Lagging Sectors
Real estate shares surged by 1% on Wednesday.
In trading on Wednesday, communication services shares fell by 0.7%.
Top Headline
CyberArk Software Ltd (NASDAQ:CYBR) reported better-than-expected earnings for its third quarter.
The company posted fiscal third-quarter 2024 revenue growth of 26% year-on-year to $240.1 million, beating the analyst consensus estimate of $234.0 million. The information security company posted an adjusted EPS of 94 cents, which beat the analyst consensus estimate of 46 cents.
Equities Trading UP
- Microvast Holdings, Inc. (NASDAQ:MVST) shares shot up 370% to $0.8500 after the company reported better-than-expected third-quarter financial results.
- Shares of BTC Digital Ltd. (NASDAQ:BTCT) got a boost, surging 70% to $17.89 after the company announced an agreement with Recte Technologies and Asia Investment Fund to host 1,100 bitcoin mining machines in the US.
- Kaixin Holdings (NASDAQ:KXIN) shares were also up, gaining 104% to $5.94 after the company announced it received a Nasdaq letter indicating it has regained compliance with the minimum bid price requirement.
Equities Trading DOWN
- Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) shares dropped 86% to $0.3799 after the company announced its SELECT-MDS-1 Phase 3 trial of tamibarotene did not meet its primary endpoint and has discontinued the study.
- Shares of GlucoTrack, Inc. (NASDAQ:GCTK) were down 74% to $0.4000 after the company announced a $10 million public offering of 7.2 million shares with attached warrants.
- Wag! Group Co. (NASDAQ:PET) was down, falling 68% to $0.2127 after the company reported worse-than-expected third-quarter financial results and cut its FY24 revenue outlook.
Commodities
In commodity news, oil traded down 1.1% to $67.36 while gold traded down 0.1% at $2,604.10.
Silver traded up 0.1% to $30.775 on Wednesday, while copper fell 1.2% to $4.0865.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.51%, Germany's DAX fell 0.82% and France's CAC 40 fell 0.69%. Spain's IBEX 35 Index fell 0.38%, while London's FTSE 100 fell 0.27%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.66%, Hong Kong's Hang Seng Index falling 0.12%, China's Shanghai Composite Index gaining 0.51% and India's BSE Sensex falling 1.25%.
Economics
- U.S. mortgage applications rose 0.5% from the previous week in the week ending Nov. 8.
- U.S. annual inflation rate rose to 2.6% in October from 2.4% in the previous month, and in-line with market estimates. The CPI rose 0.2% month-over-month in October.
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