Following the market opening Wednesday, the Dow traded up 0.16% to 35,814.95 while the NASDAQ rose 0.24% to 15,271.98. The S&P also rose, gaining 0.12% to 4,580.19.
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.
Leading and Lagging Sectors
Consumer discretionary shares gained by 1% on Wednesday. Meanwhile, top gainers in the sector included Taylor Morrison Home Corporation TMHC, up 13% and Workhorse Group Inc. WKHS up 6%.
In trading on Wednesday, energy shares fell 0.6%.
Top Headline
The Coca-Cola Company 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. AGRI shares shot up 63% to $3.52. AgriFORCE Growing Systems reported binding LOI to acquire a European agriculture/horticulture and agtech consulting firm for $29 million.
Shares of Enphase Energy, Inc. ENPH got a boost, shooting 21% to $210.25 after the company reported better-than-expected Q3 results and issued Q4 sales guidance above estimates.
Marqeta, Inc. MQ shares were also up, gaining 14% to $36.74 after the company reported a partnership with Bill.com to power new innovative commercial card products for financial institution customers.
Check out these big movers of the day
Equities Trading DOWN
Cortexyme, Inc. CRTX shares tumbled 73% to $15.71 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 BIMI International Medical Inc. BIMI were down 57% to $0.9549 after jumping 225% on Tuesday.
Inspira Technologies Oxy B.H.N. Ltd. IINN was down, falling 56% to $4.1601. Inspira Technologies shares jumped over 300% on Tuesday after the company signed an agreement with Waas Group for the development 1,040 ART systems in Spain and Portugal.
Commodities
In commodity news, oil traded down 1.2% to $83.63, while gold traded down 0.3% to $1,787.90.
Silver traded down 0.3% Wednesday to $24.02 while copper fell 1.4% to $4.4230.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.3%, the Spanish Ibex Index fell 0.4% and the German DAX 30 declined 0.3%. Meanwhile, the London’s FTSE 100 fell 0.3%, French CAC 40 fell 0.3% and Italy’s FTSE MIB declined 0.3%.
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.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
The Treasury is set to auction 5-year notes at 1:00 p.m. ET.
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