U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining more than 100 points on Wednesday.
The Dow traded up 0.60% to 33,906.23 while the NASDAQ rose 1.25% to 10,876.84. The S&P 500 also rose, gaining, 0.94% to 3,955.92.
Check This Out: Top 5 Financial Stocks That May Plunge
Leading and Lagging Sectors
Real estate shares gained by 3.3% on Wednesday. Meanwhile, top gainers in the sector included WeWork Inc. WE, up 21%, and Opendoor Technologies Inc OPEN, up 10%.
In trading on Wednesday, consumer staples shares fell by 0.2%.
Stocks of crude oil in the US climbed by 18.962 million barrels in the week ended January 6, the EIA said.
Equities Trading UP
- Broadwind Inc BWEN shares shot up 101% to $4.55 after the company announced the receipt of approximately $175 million in new tower orders from a leading global wind turbine manufacturer.
- Shares of Laser Photonics Corp LASE got a boost, shooting 33% to $3.37 after the company announced the board of directors authorized a 2 million share stock repurchase program.
- Bed Bath & Beyond Inc. BBBY shares were also up, gaining 54% to $3.20 after adding more than 27% during regular market hours on Tuesday. According to a Wall Street Journal report citing people familiar with the matter, Bed Bath & Beyond has brought on consulting firm AlixPartners as its new restructuring advisor. The company reported a quarterly adjusted net loss of $3.65 per share, which missed estimates for a loss of $2.11 per share.
Equities Trading DOWN
- CommVault Systems, Inc. CVLT shares tumbled 14% to $55.84 after the company issued Q3 guidance below estimates. Piper Sandler cut its price target on the stock from $70 to $60.
- Shares of American Virtual Cloud Technologies, Inc. AVCT were down 16% to $1.19 after the company filed for Chapter 11 bankruptcy.
- Halozyme Therapeutics, Inc. HALO was down, falling 11% to $49.74 after the company issued FY23 adjusted EPS and revenue guidance below estimates.
Also Check This Out: Conagra Brands, Keurig Dr Pepper And These 2 Stocks Insiders Are Selling
In commodity news, oil traded up 3.3% to $77.63 while gold traded up 0.3% at $1,881.90.
Silver traded down 0.4% to $23.57 on Wednesday while copper rose 2.5% to $4.18.
European shares closed higher today. The eurozone’s STOXX 600 rose 0.38%, London’s FTSE 100 rose 0.40% while Spain’s IBEX 35 Index gained 0.16%. The German DAX climbed 1.17%, French CAC 40 climbed 0.80% and Italy’s FTSE MIB Index rose 0.72%.
Retail sales in Italy increased by 0.8% from a month ago in November versus a revised 0.3% decline in the prior month. Industrial production in Spain fell by 1.1% year-over-year in November.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with the Hong Kong’s Hang Seng Index gaining 0.49%, and China’s Shanghai Composite Index falling 0.24%. Japan’s Nikkei 225 gained 1.03%.
The index of coincident economic indicators in Japan dropped to 99.1 in November from 99.6 in October, while index of leading economic indicators fell to 97.6 in November from a final reading of 98.6 in October. Retail sales in Australia rose by 1.4% month-over-month to AUD 35.92 billion during November, while monthly Consumer Price Index indicator rose by 7.3% in the year to November.
- Mortgage applications in the US rose 1.2% in the first week of January.
- Stocks of crude oil in the US climbed by 18.962 million barrels in the week ended January 6, the EIA said.
Now Read This: Alibaba To Rally Around 23%? Here Are 10 Other Analyst Forecasts For Wednesday
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 103,151,840 cases with around 1,121,720 deaths. India confirmed a total of at least 44,681,520 cases and 530,720 deaths, while France reported over 39,421,140 COVID-19 cases with 163,100 deaths. In total, there were at least 669,583,810 cases of COVID-19 worldwide with more than 6,718,320 deaths.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.