S&P 500 Tops 6,000; Rumble Shares Slide After Q3 Results

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.3% on Wednesday.

The Dow traded up 0.34% to 44,059.95 while the NASDAQ rose 0.28% to 19,335.15. The S&P 500 also rose, gaining, 0.32% to 6,003.04.

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Leading and Lagging Sectors

Consumer discretionary shares surged by 1.3% on Wednesday.

In trading on Wednesday, communication services shares fell by 0.2%.

Top Headline

Rumble Inc. RUM shares fell around 15% on Wednesday after the company posted downbeat results for the third quarter.

The company posted a quarterly loss of 15 cents per share, versus estimates for a loss of 12 cents per share.

Equities Trading UP

Microvast Holdings, Inc. MVST shares shot up 392% to $0.8890 after the company reported better-than-expected third-quarter financial results.
Shares of BTC Digital Ltd. BTCT got a boost, surging 75% to $4.7100 after the company announced an agreement with Recte Technologies and Asia Investment Fund to host 1,100 bitcoin mining machines in the US.
Kaixin Holdings KXIN shares were also up, gaining 61% to $4.7100 after the company announced it received a Nasdaq letter indicating it has regained compliance with the minimum bid price requirement.

Equities Trading DOWN

Trending Investment Opportunities

Syros Pharmaceuticals, Inc. SYRS shares dropped 86% to $0.3701 after the company announced its SELECT-MDS-1 Phase 3 trial of tamibarotene did not meet its primary endpoint and has discontinued the study.
Shares of GlucoTrack, Inc. GCTK were down 75% to $0.3817 after the company announced a $10 million public offering of 7.2 million shares with attached warrants.
Wag! Group Co. PET was down, falling 72% to $0.1821 after the company reported worse-than-expected third-quarter financial results and cut its FY24 revenue outlook.

Commodities

In commodity news, oil traded up 0.6% to $68.54 while gold traded down 0.7% at $2,587.80.

Silver traded down 0.4% to $30.635 on Wednesday, while copper fell 1% to $4.0955.

Euro zone

European shares closed mostly lower today. The eurozone's STOXX 600 fell 0.13%, Germany's DAX fell 0.16% and France's CAC 40 fell 0.14%. Spain's IBEX 35 Index fell 0.05%, while London's FTSE 100 rose 0.06%.

Asia Pacific Markets

Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 falling 1.66%, Hong Kong's Hang Seng Index falling 0.12%, China's Shanghai Composite Index gaining 0.51% and India's BSE Sensex falling 1.25%.

Economics

U.S. mortgage applications rose 0.5% from the previous week in the week ending Nov. 8.
U.S. annual inflation rate rose to 2.6% in October from 2.4% in the previous month, and in-line with market estimates. The CPI rose 0.2% month-over-month in October.

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