Toward the end of trading Wednesday, the Dow traded up 0.73% to 29491.31 while the NASDAQ rose 0.76% to 9,712.15. The S&P also rose, gaining 0.49% to 3,374.30.

Leading and Lagging Sectors

Consumer discretionary shares climbed 0.9% on Wednesday. Meanwhile, top gainers in the sector included ZAGG Inc (NASDAQ:ZAGG), up 12%, and RCI Hospitality Holdings, Inc. (NASDAQ:RICK), up 8%.

In trading on Wednesday, consumer staples shares fell 0.3%.

Top Headline

CVS Health Corp (NYSE:CVS) reported stronger-than-expected results for its fourth quarter.

CVS Health reported quarterly earnings of $1.73 per share, which beat the analyst consensus estimate of $1.68. The company reported quarterly sales of $66.9 billion, which missed the analyst consensus estimate of $63.97 billion.

CVS said it expects FY20 adjusted earnings of $7.04 to $7.17 per share, versus analysts’ estimates of $7.15 per share.

Shopify Inc. (NYSE:SHOP) shares were also up, gaining 12% to $552.65 after the company reported better-than-expected Q4 results and issued upbeat FY20 guidance.

Equities Trading DOWN

PolarityTE, Inc. (NASDAQ:PTE) shares tumbled 47% to $1.70 after the company priced public offering of stock and warrants.

Shares of Insperity, Inc. (NYSE:NSP) were down 22% to $69.41 after the company reported Q4 results. Baird downgraded Insperity from Outperform to Neutral and lowered the price target from $107 to $73.

Zosano Pharma Corporation (NASDAQ:ZSAN) was down, falling 47% to $0.5434 after the company priced 10.146 million unit offering at $0.65 per unit.

Commodities


In commodity news, oil traded up 2.7% to $51.30, while gold traded up 0.1% to $1,571.70.

Silver traded down 0.6% Wednesday to $17.50, while copper rose 0.7% to $2.602.