Dow Surges Over 100 Points; Goldman Sachs Posts Upbeat Earnings

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 100 points on Wednesday.

The Dow traded up 0.25% to 44,133.80 while the NASDAQ rose 0.09% to 20,696.02. The S&P 500 also rose, gaining, 0.12% to 6,251.54.

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Leading and Lagging Sectors

Health care shares jumped by 1.2% on Wednesday.

In trading on Wednesday, energy stocks dipped by 0.3%.

Top Headline

Goldman Sachs Group Inc. (NYSE:GS) reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions.

Net revenue rose 15% year over year to $14.58 billion, topping the consensus estimate of $13.36 billion, though it declined 3% from the prior quarter.

GAAP earnings came in at $10.91 per share, up from $8.62 a year ago and above the $9.48 consensus. First-half EPS rose to $25.07 from $20.21 a year earlier.

Equities Trading UP
           

Equities Trading DOWN

Commodities

In commodity news, oil traded down 0.5% to $66.18 while gold traded up 0.7% at $3,358.70.

Silver traded down 0.1% to $38.085 on Wednesday, while copper fell 0.9% to $5.53.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 slipped 0.57%, while Spain's IBEX 35 Index rose 0.08%. London's FTSE 100 fell 0.13%, Germany's DAX 40 declined 0.21% and France's CAC 40 fell 0.57% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei falling 0.04%, Hong Kong's Hang Seng falling 0.29%, China's Shanghai Composite falling 0.04% and India's BSE Sensex gaining 0.08%.

Economics

  • U.S. crude oil inventories declined by 3.859 million barrels in the week ended July 11.
  • U.S. industrial production increased by 0.3% in June, topping market estimates of a 0.1% rise.
  • U.S. producer prices came in unchanged in June from May, compared to a revised 0.3% gain in the previous period.

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