Following the market opening Wednesday, the Dow traded up 0.07% to 30,194.82 while the NASDAQ fell 0.10% to 12,570.09. The S&P also rose, gaining 0.06% to 3,704.53.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 15,172,600 cases with around 286,330 deaths. India confirmed a total of at least 9,735,850 confirmed cases and 141,360 deaths, while Brazil reported over 6,674,990 COVID-19 cases with 178,150 deaths. In total, there were at least 68,321,800 cases of COVID-19 worldwide with over 1,559,700 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares climbed 2.3% on Wednesday. Meanwhile, top gainers in the sector included Centennial Resource Development, Inc. CDEV, up 14%, and Northern Oil and Gas, Inc. NOG, up 10%.
In trading on Wednesday, real estate shares fell 1.1%.
Top Headline
Campbell Soup Company CPB reported stronger-than-expected earnings for its first quarter, but issued weak guidance for the second quarter.
Campbell Soup reported quarterly earnings of $1.02 per share, beating analysts’ estimates of $0.91 per share. The company’s sales came in at $2.34 billion, versus expectations of $2.32 billion. The company also raised its quarterly dividend from $0.35 to $0.37 per share.
Campbell Soup said it expects Q2 adjusted earnings of $0.81 to $0.83 per share on sales growth of 5% to 7% year over year.
Equities Trading UP
Greenwich LifeSciences, Inc. GLSI shares shot up 158% to $13.41 after the company reported data showing 0% breast cancer recurrences following surgery and Herceptin treatment over median 5 years of follow-up.
Shares of Rocket Pharmaceuticals, Inc. RCKT got a boost, shooting 81% to $58.09 after the company announced preliminary data from its open-label, Phase 1 clinical trial of its AAV-based gene therapy candidate RP-A501 for the treatment of Danon Disease, showing the gene therapy was generally well tolerated and provided early evidence of clinical benefit. The company also announced a $175 million public offering of common stock.
Intec Pharma Ltd NTEC shares were also up, gaining 76% to $6.09 after the company announced a cannabinoid research collaboration with GW Pharma.
Equities Trading DOWN
Pluristem Therapeutics Inc. PSTI shares tumbled 41% to $6.71 after the company said following interim review of dataset from the pivotal Phase 3 study of PLX-PAD in critical limb ischemia, the independent Data Monitoring Committee said the study is unlikely to meet the primary endpoint by the time of the final analysis.
Shares of Sino-Global Shipping America, Ltd.. SINO were down 38% to $2.3886 after the company reported pricing of $4.8 million registered direct offering priced at-the-market.
Infinity Pharmaceuticals, Inc. INFI was down, falling 34% to $1.8277 after the company reported presentation of front-line triple negative breast cancer data from ongoing Phase 2 MARIO-3 Trial at San Antonio Breast Cancer Symposium.
Commodities
In commodity news, oil traded up 0.3% to $45.73, while gold traded down 0.6% to $1,863.60.
Silver traded down 1.4% Wednesday to $24.39 while copper rose 0.5% to $3.5170.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 rose 0.5%, the Spanish Ibex Index rose 0.2%, while Italy’s FTSE MIB Index rose 0.1%. Meanwhile, the German DAX 30 gained 0.9%, French CAC 40 rose 0.2% and London’s FTSE 100 rose 0.4%.
The eurozone GDP rose 12.5% quarter-over-quarter during the third quarter, but declined 4.3% year-over-year. Spain's industrial production declined 1.6% year-over-year in October. German trade balance surplus increased to €18.2 billion in October.
Economics
The number of job openings rose by 158,000 to 6.652 million in October.
US wholesale inventories increased 1.1% for October.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
The Treasury will auction 10-year notes at 1:00 p.m. ET.
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