Following the market opening Wednesday, the Dow traded up 0.44 percent to 17,659.15 while the NASDAQ surged 0.19 percent to 5,039.71. The S&P also rose, gaining 0.44 percent to 2,074.98.
Leading and Lagging Sectors
In trading on Wednesday, energy shares jumped by 1.37 percent. Top gainers in the sector included Cloud Peak Energy Inc. CLD, up 17 percent, and Legacy Reserves LP LGCY, up 8 percent.
In trading on Wednesday, industrial shares rose by just 0.1 percent. Meanwhile, top losers in the sector included RPX Corp RPXC, down 11 percent, and Saia Inc SAIA, off 20 percent.
Top Headline
Hershey Co HSY reported stronger-than-expected earnings for the third quarter.
The Hershey, Pennsylvania-based company posted quarterly net income of $154.8 million, or $0.70 per share, compared to $223.7 million, or $1.00 per share, in the year-ago quarter. Its adjusted earnings came in at $1.17 per share.
Its sales declined to $1.961 billion from $1.962 billion. However, analysts were expecting earnings of $1.13 per share on revenue of $1.98 billion.
Equities Trading UP
Cnova NV CNV shares shot up 29 percent to $3.86. Cnova posted Q3 adjusted loss of $0.07 per share on revenue of $869.2 million.
Shares of Gibraltar Industries Inc ROCK got a boost, shooting up 15 percent to $24.77 on upbeat Q3 results.
Chicago Bridge & Iron Company N.V. CBI shares were also up, gaining 15 percent to $44.90 after the company agreed to sell its nuclear construction business to Westinghouse Electric Company LLC for $229 million.
Equities Trading DOWN
Akamai Technologies, Inc. AKAM shares tumbled 20 percent to $60.56. Akamai Technologies reported upbeat Q3 earnings, but the company issued a weak forecast for the current quarter. JP Morgan downgraded Akamai Technologies from Overweight to Neutral and lowered the price target from $75.00 to $65.00.
Shares of Saia Inc SAIA were down 18 percent to $24.64 on weak Q3 results.
Intercept Pharmaceuticals Inc ICPT was down, falling 12 percent to $148.10 after the company reported results of Phase 2 trial of OCA in NASH patients in Japan.
Commodities
In commodity news, oil traded up 1.20 percent to $43.72, while gold traded up 1.36 percent to $1,181.60.
Silver traded up 2.50 percent Wednesday to $16.26, while copper fell 0.36 percent to $2.35.
Eurozone
European shares were mostly higher today. The eurozone's STOXX 600 jumped 0.34 percent, the Spanish Ibex Index fell 0.02 percent, while Italy's FTSE MIB Index climbed 0.41 percent. Meanwhile, the German DAX surged 0.53 percent, and the French CAC 40 jumped 0.34 percent, while U.K. shares rose 0.62 percent.
Economics
The MBA reported that its index of mortgage application activity declined 3.50 percent in the week ended October 23, 2015.
The Federal Open Market Committee is scheduled to announce policy decision at 2:00 p.m. ET.
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