Dow Rises 50 Points; Silver Drops Over 2%

U.S. stocks pared losses toward the end of trading, with the Dow Jones gaining over 50 points on Wednesday.

The Dow traded up 0.18% to 30,371.76 while the NASDAQ fell 0.05% to 11,171.34. The S&P 500 also rose, gaining, 0.11% to 3,795.09.

Also check this: Bitcoin Surges Past This Key Level; Here Are The Top Crypto Movers For Wednesday

Leading and Lagging Sectors

Energy shares jumped by 2.4% on Wednesday. Leading the sector was strength from Nine Energy Service, Inc. NINE and KLX Energy Services Holdings, Inc. KLXE.

In trading on Wednesday, real estate shares fell by 2.5%.

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US crude oil inventories dropped by 1.356 million barrels in the week ended September 30th, versus market estimates of a 2.052-million-barrel rise, the Energy Information Administration said.


Equities Trading UP


  • Nauticus Robotics, Inc. KITT shares shot up 75% to $5.64 after the company said it was awarded a second multi-million dollar contract by the U.S. Defense Innovation Unit for the development of an amphibious unmanned system.
  • Shares of Vicinity Motor Corp. VEV got a boost, shooting 13% to $1.17 after the company announced it started delivering Canada's first Class 3 electric truck.
  • Tupperware Brands Corporation TOPS shares were also up, gaining 101% to $10.94. TOP Ships recently reported a 412% surge in net income for the six months ended June 30.


Equities Trading DOWN

  • Bit Brother Limited BTB shares tumbled 39% to $0.1953 after jumping 185% on Tuesday.
  • Shares of AeroClean Technologies, Inc. AERC were down 21% to $4.6904. AeroClean Technologies shares jumped 85% on Tuesday after the company and Molekule announced they have entered into a definitive agreement to combine the companies in an all-stock merger.
  • Sotera Health Company SHC was down, falling 10% to $7.20 after Citigroup downgraded the stock from Buy to Neutral.

Also check out: Dow Jumps Over 800 Points, Volatility In Markets Decreases


In commodity news, oil traded up 1.4% to $87.77, while gold traded down 0.5% at $1,722.20.

Silver traded down 2.3% to $20.615 on Wednesday while copper rose 0.7% to $3.5130.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 fell 1.02%, London’s FTSE 100 fell 0.48% while Spain’s IBEX 35 Index fell 1.52%. The German DAX dropped 1.21%, French CAC 40 fell 0.90% and Italy’s FTSE MIB Index fell 1.52%.

The S&P Global Eurozone services PMI was revised down to 48.8 in September versus a preliminary level of 48.9, while composite PMI fell to 48.1 in September from a preliminary reading of 48.2.

The S&P Global Germany’s services PMI was revised lower to 45 in September versus a preliminary reading of 45.4, while French services PMI was revised lower to 52.9 in September from a flash reading of 53. Industrial production in France rose 2.4% from the prior month in August. The S&P Global Spain services PMI dropped to 48.5 in September from 50.6 in the previous month.




  • Private businesses in the US added 208,000 jobs in September versus a revised 185,000 in August. The latest reading came in above market expectations of 200,000.
  • The trade deficit in the US shrank to $67.4 billion in August, recording the lowest level since May last year. Imports to the US fell by $3.7 billion from a month ago to $326.3 in August, while exports fell by $0.7 billion to $258.9 billion.
  • The S&P Global services PMI was revised higher to 49.3 in September from a preliminary level of 49.2.
  • The ISM services PMI fell to 56.7 in September from 56.9 in August. However, the latest reading exceeded market estimates of 56.
  • US crude oil inventories dropped by 1.356 million barrels in the week ended September 30th, versus market estimates of a 2.052-million-barrel rise, the Energy Information Administration said.
  • Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 4:00 p.m. ET.

Check out this: Fear Among US Investors Is Decreasing, Here's Why

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 98,308,950 cases with around 1,085,360 deaths. India confirmed a total of at least 44,601,930 cases and 528,730 deaths, while France reported over 35,573,130 COVID-19 cases with 155,270 deaths. In total, there were at least 624,421,150 cases of COVID-19 worldwide with more than 6,553,480 deaths.


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Posted In: EarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Afternoon Market Update
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