US Stocks Higher; Dollar Tree Shares Plunge After Q1 Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 50 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.17% to 42,591.06 while the NASDAQ rose 0.34% to 19,465.31. The S&P 500 also rose, gaining, 0.27% to 5,986.07.

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Leading and Lagging Sectors

Communication services shares jumped by 1% on Wednesday.

In trading on Wednesday, utilities stocks fell by 0.6%.

Top Headline

Shares of Dollar Tree Inc. DLTR fell more than 10% on Wednesday after its first-quarter 2025 earnings report.

Net sales increased 11.3% to $4.6 billion, beating the consensus of $4.53 billion and the management guidance of $4.5 billion—$4.6 billion.

Same-store net sales increased 5.4%, driven by a 2.5% increase in traffic and a 2.8% increase in average ticket, beating the management guidance growth of 3% – 5%. Dollar Tree reported adjusted earnings of $1.26 per share, beating the analyst estimate of $1.21, better than management expectation of $1.10 – $1.25.

Equities Trading UP

Mullen Automotive, Inc. MULN shares shot up 191% to $15.69.
Shares of K Wave Media Ltd. KWM got a boost, surging 124% to $4.3046 after the company announced it signed a $500 million securities purchase agreement to advance a bitcoin-focused treasury strategy.
Cellectar Biosciences, Inc. CLRB shares were also up, gaining 100% to $0.5581 after the company announced it was granted FDA Breakthrough Therapy Designation status for Iopofosine I-131.

Equities Trading DOWN

PTL Limited PTLE shares dropped 41% to $0.4300.
Shares of Raytech Holding Limited RAY were down 27% to $1.1906.
ReShape Lifesciences Inc. RSLS was down, falling 23% to $5.19. ReShape Lifesciences recently announced its Quality Management System and entire commercial portfolio of medical devices sold in Europe and in the UK have been certified under the European Union Medical Device Regulation 2017/745 and UK Conformity Assessment.

Commodities

In commodity news, oil traded down 0.2% to $63.26 while gold traded up 0.8% at $3,402.30.

Silver traded up 0.1% to $34.665 on Wednesday, while copper rose 1.1% to $4.8865.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.5%, while Spain's IBEX 35 Index fell 0.2%. London's FTSE 100 rose 0.3%, Germany's DAX 40 gained 0.6% and France's CAC 40 rose 0.7% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei gaining 0.80%, Hong Kong's Hang Seng Index jumping 0.60%, China's Shanghai Composite gaining 0.42% and India's BSE Sensex gaining 0.32%.

Economics

The EIA said crude oil inventories in the U.S. declined by 4.304 million barrels in the week ended May 30, compared to market estimates of a 0.9 million barrel fall.
The ISM services PMI dipped to 49.9 in May versus 51.6 in the previous month and also missing market estimates of 52.
The S&P Global composite PMI was revised higher to 53.0 in May compared to a preliminary reading of 52.1 and versus April's reading of 50.6.
U.S. private business added 37K workers to their payrolls during May versus a revised 60K gain in the previous month.

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