U.S. stocks traded lower this morning, with Dow Jones dropping over 100 points on Wednesday.

Following the market opening Wednesday, the Dow traded down 0.41% to 33,914.60 while the NASDAQ fell 0.31% to 13,624.81. The S&P 500, also fell, dropping, 0.33% to 4,374.40.

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Top Headline

Winnebago Industries, Inc. (NYSE:WGO) reported better-than-expected earnings for its third quarter, while sales missed estimates.

Winnebago Industries posted quarterly earnings of $2.13 per share, beating market estimates of $1.83 per share. The company’s quarterly sales came in at $900.80 million, missing expectations of $961.04 million.

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Equities Trading DOWN

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Commodities

In commodity news, oil traded up 0.1% to $71.21 while gold traded down 0.1% at $1,945.40.

Silver traded down 0.5% to $23.11 on Wednesday while copper fell 0.6% to $3.8610.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.1% The German DAX dropped 0.1% French CAC 40 fell 0.3% and Italy’s FTSE MIB Index rose 0.3%.

Passenger car registrations in the European Union jumped 18.5% year-over-year to around 1 million units in May.

The consumer price inflation in the U.K. came in unchanged at 8.7% in May, while producer price inflation slowed to 2.9% year-over-year in May versus a revised 5.2% in the prior month.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 gaining 0.56%, Hong Kong’s Hang Seng Index dropping 1.98% and China’s Shanghai Composite Index dropping 1.31%. India’s S&P BSE Sensex rose 0.3%.

Hong Kong’s current account surplus fell to HKD 41.3 billion in the first quarter versus HKD 86.3 billion in the year-ago month. Australia’s Westpac-Melbourne Institute Leading Economic Index came in flat from the previous month in May.

Economics

Mortgage applications in the U.S. rose 0.5% in the week ended June 16.

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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 107,248,390 cases with around 1,167,380 deaths. India confirmed a total of at least 44,993,670 cases and 531,890 deaths, while France reported over 40,126,960 COVID-19 cases with 167,590 deaths. In total, there were at least 690,635,950 cases of COVID-19 worldwide with more than 6,893,340 deaths.