U.S. stocks traded higher this morning, with the Dow Jones index gaining around 200 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.55% to 38,006.47 while the NASDAQ rose 0.24% to 15,903.38. The S&P 500 also rose, gaining, 0.40% to 5,071.74.
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Leading and Lagging Sectors
Materials shares rose by 1% on Wednesday.
In trading on Wednesday, real estate shares fell by 0.3%.
Top Headline
Abbott Laboratories (NYSE:ABT) reported better-than-expected earnings for its first quarter.
The company posted first-quarter sales of $9.96 billion, up 10.8% on an organic basis for the underlying base business, beating the consensus of $9.88 billion. Abbott’s adjusted diluted earnings per share was 98 cents, beating the analyst estimates of 95 cents.
Equities Trading UP
Abbott Laboratories (NASDAQ:INVO) shares shot up 203% to $2.35 after the company reported a year-over-year increase in fourth-quarter revenue results and said it remains on track to reach its goal of reaching break-even or profitability within its current operations in 2024.
Shares of Edible Garden AG Incorporated (NASDAQ:EDBL) got a boost, surging 118% to $9.94 after the company reported preliminary first quarter fy24 results.
VIA optronics AG (NASDAQ:VIAO) shares were also up, gaining 55% to $0.4028 after dipping over 15% on Tuesday.
Equities Trading DOWN
ICZOOM Group Inc. (NASDAQ:IZM) shares dropped 91% to $4.61.
Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) were down 46% to $3.6932.
Trio Petroleum Corp. (NASDAQ:TPET) was down, falling 36% to $0.3091 after dipping over 22% on Tuesday.
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Commodities
In commodity news, oil traded down 0.8% to $84.69 while gold traded down 0.2% at $2,402.10.
Silver traded up 0.6% to $28.55 on Wednesday, while copper rose 0.3% to $4.3150.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.7%, London’s FTSE 100 rose 0.6% while Spain’s IBEX 35 Index gained 1.4% The German DAX gained 0.7% French CAC 40 climbed 1.4% while Italy’s FTSE MIB Index gained 1.1%.
The consumer price inflation rate in the Eurozone came in at 2.4% year-over-year in March. The UK’s inflation rate eased to 3.2% year-over-year in March versus 3.4% in the prior month, while producer prices increased 0.6% year-over-year in March.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 falling 1.32%, Hong Kong’s Hang Seng Index gaining 0.02% and China’s Shanghai Composite gaining 2.14%.
Japan recorded a trade surplus of JPY 366,467 billion in March versus a deficit of JPY 750,854 billion in the year-ago period, while the Reuters Tankan sentiment index for manufacturers declined to +9 in April versus March’s reading of +10.
Economics
U.S. mortgage applications climbed by 3.3% in the latest week.
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