Following the market opening Wednesday, the Dow traded down 0.11% to 27304.80 while the NASDAQ fell 0.06% to 8,217.54. The S&P also fell, dropping 0.17% to 2,998.97.
Leading and Lagging Sectors
Utilities shares rose 0.5% on Wednesday. Meanwhile, top gainers in the sector included Centrais Elétricas Brasileiras S.A. - Eletrobrás EBR, up 5%, and Global Water Resources, Inc. GWRS, up 4%.
In trading on Wednesday, industrial shares fell 0.9%.
Top Headline
Bank of America BAC reported better-than-expected earnings for its second quarter, while sales missed estimates.
Bank of America reported second-quarter earnings of 74 cents per share, which beat the analyst consensus estimate of 71 cents. The company reported quarterly sales of $23.1 billion, which missed the analyst consensus estimate of $23.23 billion.
Equities Trading UP
Guardion Health Sciences, Inc. GHSI shares shot up 151% to $2.41 after the company received a Hong Kong patent for its MapcatSF device.
Shares of Francesca's Holdings Corporation FRAN got a boost, shooting up 29% to $4.36 after Cross River Capital Management disclosed a 20.3% stake in the company.
Anixa Biosciences, Inc. ANIX shares were also up, gaining 17% to $4.8370 after the company announced a strategic alliance and licensing agreement with Cleveland Clinic for an innovative breast cancer vaccine technology.
Equities Trading DOWN
Xenetic Biosciences, Inc. XBIO shares tumbled 47% to $5.72. Xenetic Biosciences priced its 2.3 million unit offering at $6.50 per share.
Shares of Nu Skin Enterprises, Inc. NUS were down 18% to $37.54 after the company reported worse-than-expected preliminary second-quarter EPS and sales results. The company also cut its sales guidance below analyst estimates.
Immuron Limited IMRN was down, falling 15% to $3.64 after the company priced its 339,130 ADS offering of at $4 per ADS.
Commodities
In commodity news, oil traded up 1.2% to $58.28, while gold traded down 0.2% to $ 1,408.00.
Silver traded up 0.2% Wednesday to $15.715, while copper fell 0.3% to $2.6925.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 slipped 0.1%, the Spanish Ibex Index fell 0.6%, while Italy’s FTSE MIB Index dropped 0.1%. Meanwhile, the German DAX declined 0.3%, and the French CAC 40 fell 0.2% while UK shares fell 0.2%.
Economics
Housing starts fell 0.9% to an annual pace of 1.25 million in June, versus a revised 1.27 million in the previous month. However, economists were expecting a 1.24 million rate. Permits declined 6.1% to an annual pace of 1.22 million last month.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
Kansas City Federal Reserve Bank President Esther George is set to speak in Kansas City, Missouri at 12:30 p.m. ET.
The Federal Open Market Committee will release its Beige Book report at 2:00 p.m. ET.
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