U.S. stocks traded higher this morning, with the Dow Jones index gaining around 300 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.63% to 48,792.32 while the NASDAQ gained 0.75% to 23,126.84. The S&P 500 also rose, gaining, 0.73% to 6,846.72.
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Leading and Lagging Sectors
Energy shares gained by 2.3% on Wednesday.
In trading on Wednesday, consumer staples stocks dipped by 0.6%.
Top Headline
Netflix, Inc. (NASDAQ:NFLX) shares fell around 3% on Wednesday after the company reported fourth-quarter financial results and issued first-quarter guidance below estimates on Tuesday.
Netflix reported earnings per share of 56 cents, beating the consensus estimate of 55 cents. In addition, the company reported revenue of $12.05 billion, beating the consensus estimate of $11.97 billion.
For the first quarter, Netflix guided for earnings per share of 76 cents and revenue of approximately $12.16 billion. The company said it expects advertising revenue growth to continue and plans to invest across content, advertising initiatives and newer formats including live events, video podcasts and games.
Equities Trading UP
- PAVmed Inc (NASDAQ:PAVM) shares shot up 232% to $20.57 after the company announced its subsidiary, Lucid Diagnostics, was awarded a contract by the Department of Veteran Affairs for its EsoGuard Esophageal DNA Test.
- Shares of Smart Logistics Global Ltd (NASDAQ:SLGB) got a boost, surging 141% to $2.97.
- Lisata Therapeutics Inc (NASDAQ:LSTA) shares were also up, gaining 85% to $4.00 after the company announced a binding term sheet to be acquired by Kuva Labs for $4.00 per share in an all-cash tender offer.
Equities Trading DOWN
- Venus Concept Inc (NASDAQ:VERO) shares dropped 52% to $2.16 after the company announced it will delist from the Nasdaq.
- Shares of Innovation Beverage Group Ltd (NASDAQ:IBG) were down 39% to $0.95. The company announced a business update that highlighted its energy expansion and proposed merger with BlockFuel Energy.
- CN ENERGY GROUP Inc (NASDAQ:CNEY) was down, falling 35% to $0.33.
Commodities
In commodity news, oil traded up 0.1% to $60.40 while gold traded up 2.4% at $4,880.20.
Silver traded up 0.2% to $94.825 on Wednesday, while copper rose 0.7% to $5.8525.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.8%, while Spain’s IBEX 35 Index fell 1%. London’s FTSE 100 fell 0.1%, Germany’s DAX fell 1.4% and France’s CAC 40 slipped 0.5% during the session.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan’s Nikkei falling 0.41%, Hong Kong’s Hang Seng Index gaining 0.37%, China’s Shanghai Composite gaining 0.08% and India’s BSE Sensex falling 0.33%.
Economics
The volume of mortgage applications in the US climbed by 14.1% from the previous week during the week ending Jan. 16, following a 28.5% gain in the prior period.
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