Following the market opening Wednesday, the Dow traded up 0.94% to 32,729.27 while the NASDAQ fell 0.31% to 13,187.08. The S&P also rose, gaining 0.42% to 3,927.11.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 29,922,910 cases with around 543,840 deaths. Brazil reported over 12,130,010 COVID-19 cases with 298,670 deaths, while India confirmed a total of at least 11,734,050 cases and 160,440 deaths. In total, there were at least 124,260,610 cases of COVID-19 worldwide with more than 2,735,530 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Industrials shares rose 1.8% on Wednesday. Meanwhile, top gainers in the sector included AAR Corp. AIR, up 8%, and Veritiv Corporation VRTV, up 7%.
In trading on Wednesday, real estate shares fell 0.6%.
Top Headline
General Mills, Inc. GIS reported weaker-than-expected earnings for its third quarter, while sales exceeded views.
General Mills posted quarterly earnings of $0.82 per share, missing analysts’ estimates of $0.84 per share. The company’s quarterly sales came in at $4.52 billion, versus expectations of $4.45 billion.
Equities Trading UP
Aptose Biosciences Inc. APTO shares shot up 87% to $6.88 after the company reported Q4 earnings results.
Shares of Hall of Fame Resort & Entertainment Company HOFV got a boost, shooting 81% to $7.28 after the company announced a Non-Fungible Token partnership with Dolphin Entertainment.
Dolphin Entertainment, Inc. DLPN shares were also up, gaining 53% to $27.98 after Hall of Fame Resort & Entertainment announced it signed a Non-Fungible Token partnership with the company.
Check out these big movers of the day
Equities Trading DOWN
Benitec Biopharma Inc. BNTC shares tumbled 33% to $6.18. Benitec Biopharma shares jumped 190% on Tuesday after a 13G filing showed Morgan Stanley raised its stake in the company to roughly 249K shares, or a 5.2% stake in the company.
Shares of Hycroft Mining Holding Corporation HYMC were down 21% to $5.51 after the company reported year end 2020 results and issued 2021 outlook.
Second Sight Medical Products, Inc. EYES was down, falling 18% to $9.03 after the company announced a $27.9 million private placement of common stock.
Commodities
In commodity news, oil traded up 2.6% to $59.23, while gold traded up 0.5% to $1,732.80.
Silver traded up 0.6% Wednesday to $25.365 while copper rose 0.5% to $4.0980.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.2%, the Spanish Ibex Index fell 0.5% and the German DAX 30 dropped 0.4%. Meanwhile, the French CAC 40 fell 0.2%, London’s FTSE 100 fell 0.2% and Italy’s FTSE MIB declined 0.1%.
The IHS Markit Eurozone manufacturing PMI climbed to a record high of 62.4 for March, while services PMI increased to 48.8 in March from 45.7 in the prior month. German composite PMI climbed to 56.8 in March from 51.1 in February, while French composite PMI surged to 49.5 from 47.
UK producer prices rose 0.9% year-over-year in February, while annual inflation rate fell to 0.4% in February from 0.7% in January.
Economics
US durable goods orders fell 1.1% for February.
The IHS Markit flash manufacturing PMI rose to 59 in March from 58.6 in February, while services PMI increased to 60 in March from 58.8 in February.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
The Treasury is set to auction 5-year notes at 1:00 p.m. ET.
Federal Reserve Bank of New York President John Williams is set to speak at 1:35 p.m. ET.
San Francisco Federal Reserve Bank President Mary Daly will speak at 3:00 p.m. ET.
Federal Reserve Bank of Chicago President Charles Evans is set to speak at 7:00 p.m. ET.
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