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Toward the end of trading Wednesday, the Dow traded down 0.23% to 35,674.01 while the NASDAQ rose 0.81% to 15,358.79. The S&P also rose, gaining 0.14% to 4,581.2.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 46,497,710 cases with around 759,930 deaths. India confirmed a total of at least 34,215,650 cases and 455,680 deaths, while Brazil reported over 21,748,980 COVID-19 cases with 606,290 deaths. In total, there were at least 245,403,800 cases of COVID-19 worldwide with more than 4,981,390 deaths, according to data compiled by Johns Hopkins University.
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Leading and Lagging Sectors
Communication services shares gained by 2% on Wednesday. Meanwhile, top gainers in the sector included Urban One, Inc. (NASDAQ:UONE), up 8% and Ooma, Inc. (NYSE:OOMA) up 10%.
In trading on Wednesday, energy shares fell 2.2%.
Top Headline
The Coca-Cola Company (NYSE:KO) reported better-than-expected results for its third quarter.
Coca-Cola reported quarterly adjusted earnings of $0.65 per share, exceeding analysts’ estimates of $0.58 per share. The company’s sales came in at $10.00 billion, versus expectations of $9.75 billion.
Equities Trading UP
AgriFORCE Growing Systems, Ltd. (NASDAQ:AGRI) shares shot up 97% to $4.26 after the company reported it entered into a binding letter of intent to acquire a leading AgTech European consultancy for roughly $29 million.
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Shares of Enphase Energy, Inc. (NASDAQ:ENPH) got a boost, shooting 29% to $224.18 after the company reported better-than-expected Q3 results and issued Q4 sales guidance above estimates.
Silicon Laboratories Inc. (NASDAQ:SLAB) shares were also up, gaining 19% to $185.05 after the company reported better-than-expected Q3 results and issued Q4 adjusted EPS guidance above estimates.
Check out these big movers of the day
Equities Trading DOWN
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Cortexyme, Inc. (NASDAQ:CRTX) shares tumbled 75% to $14.42 after the company shared an update. Cortexyme reported Phase 2/3 GAIN trial data for its Alzheimer’s disease trial. The company stated co-primary endpoints were not met for ADAS-Cog11 and ADCS-ADL in the overall population. Subgroups saw a 50% slowing level for infection for ADAS-Cog11.
Shares of Angion Biomedica Corp. (NASDAQ:ANGN) were down 55% to $3.92. After flopping a test in COVID-19 earlier this year, Angion Biomedica’s lead candidate drug has hit a setback again, this time in kidney transplant patients. Angion and partner Vifor Pharma's ANG-3777 failed to beat placebo in terms of improving eGFR, a measure of kidney function, in patients who received a deceased donor kidney transplant and were at high risk of developing delayed graft function.
DBV Technologies S.A. (NASDAQ:DBVT) was down, falling 27% to $3.6636 after the company reported a loss for the third quarter.
Commodities
In commodity news, oil traded down 2.4% to $82.63, while gold traded up 0.3% to $1,798.40.
Silver traded up 0.4% Wednesday to $24.185 while copper fell 2.1% to $4.3925.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 0.36%, the Spanish Ibex Index fell 0.33% and the German DAX 30 declined 0.33%. Meanwhile, the London’s FTSE 100 fell 0.33%, French CAC 40 fell 0.19% and Italy’s FTSE MIB declined 0.61%.
Loans to households in the Eurozone climbed 4.1% year-over-year in September. Industrial producer prices in the France’s domestic market rose 1.7% from a month ago in September, while consumer confidence declined to 99 in October from a revised level of 101 in September.
Import prices in Germany rose 17.7% year-over-year in September, while GfK consumer climate indicator rose to 0.9 heading into November.
Economics
US durable goods orders fell 0.4% for September.
The US goods trade deficit widened to $96.25 billion in September.
US wholesale inventories increased 1.1% to $739.5 billion for September.
US crude oil inventories climbed 4.267 million barrels in the week ending October 22, following a 0.431 million drop in the prior period, the Energy Information Administration said.
Check out the full economic calendar here
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.