U.S. stocks traded higher this morning, with the Dow Jones gaining over 200 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.72% to 32,628.42 while the NASDAQ rose 1.33% to 11,872.30. The S&P 500, also rose, gaining, 1.03% to 4,012.27.

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Micron Technology, Inc. (NASDAQ:MU) reported weaker-than-expected Q2 results.

Micron reported second-quarter revenue of $3.69 billion, down from $7.79 billion year-over-year and below consensus estimates of $3.72 billion. The company reported a quarterly loss of $1.91 per share, which missed estimates for a loss of 81 cents per share.

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Commodities

In commodity news, oil traded up 1.2% to $74.05 while gold traded down 0.5% at $1,962.80.

Silver traded down 0.3% to $23.34 on Wednesday while copper rose 0.4% to $4.1035.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 1.2%, London’s FTSE 100 rose 1.1% while Spain’s IBEX 35 Index gained 1.3%. The German DAX gained 1.1%, French CAC 40 rose 1.5% and Italy’s FTSE MIB Index gained 1.3%.

Consumer credit in the UK rose by £1.413 billion in February versus a revised £1.686 billion increase in the previous month. The consumer confidence in France declined to 81 in March from 82 a month ago, while German GfK Consumer Climate Indicator rose for a sixth straight month to a reading of -29.5 heading into April.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan’s Nikkei 225 gaining 1.33%, Hong Kong’s Hang Seng Index climbing 2.06% and China’s Shanghai Composite Index declining 0.16%. India’s S&P BSE Sensex gained 0.3%.

Singapore’s Domestic Supply Price Index fell 4.7% year-over-year in February versus a revised 1.5% drop in the prior month.

Economics

Mortgage applications in the US climbed 2.9% in the week ended March 24, 2023.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,120,650 cases with around 1,153,970 deaths. India confirmed a total of at least 44,709,670 cases and 530,840 deaths, while France reported over 39,771,700 COVID-19 cases with 165,570 deaths. In total, there were at least 683,539,740 cases of COVID-19 worldwide with more than 6,828,510 deaths.