U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling by around 0.1% on Wednesday.
The Dow traded down 0.05% to 42,567.48 while the NASDAQ fell 1.58% to 17,982.46. The S&P 500 also fell, dropping, 0.81% to 5,729.89.
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Leading and Lagging SectorsEnergy shares jumped by 1.5% on Wednesday.
In trading on Wednesday, information technology shares fell by 1.5%.
Top Headline
Cintas Corporation (NASDAQ:CTAS) shares jumped over 8% on Wednesday after the company posted better-than-expected third-quarter earnings.
Cintas reported quarterly earnings of $1.13 per share which beat the analyst consensus estimate of $1.06 per share. The company reported quarterly sales of $2.609 billion which beat the analyst consensus estimate of $2.597 billion.
Equities Trading UP
- Worthington Enterprises, Inc. (NYSE:WOR) shares shot up 20% to $49.96 as the company posted better-than-expected earnings for the third quarter.
- Shares of OSR Holdings, Inc. (NASDAQ:OSRH)got a boost, surging 92% to $3.0805 after its subsidiary, Vaximm AG, announced Phase 2a trial results for VXM01 and Avelumab combination therapy in glioblastoma, demonstrating safety and tolerability.
- VivoPower International PLC (NASDAQ:VVPR) shares were also up, gaining 110% to $4.7601. The company is in advanced bilateral negotiations on all-cash takeover offer at enterprise value of $120 million.
Equities Trading DOWN
- Acrivon Therapeutics, Inc (NASDAQ:ACRV) shares dropped 37% to $3.38. HC Wainwright & Co. analyst Emily Bodnar maintained Acrivon Therapeutics with a Buy and lowered the price target from $22 to $19.
- Shares of Intchains Group Limited (NASDAQ:ICG) were down 27% to $3.00 after the company announced entry into agreement for registered direct offering of its ADSs and warrants.
- Aclarion, Inc. (NASDAQ:ACON) was down, falling 29% to $0.5326 after the company announced a 1-for-27 reverse stock split.
CommoditiesIn commodity news, oil traded up 1.4% to $69.96 while gold traded down 0.1% at $3,023.10.
Silver traded down 0.1% to $34.165 on Wednesday, while copper rose 1.2% to $5.2740.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 dipping 0.48%, Germany's DAX 40 fell 0.77% and France's CAC 40 dipped 0.63%. Spain's IBEX 35 Index fell 0.17%, while London's FTSE 100 gained 0.35%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 gaining 0.65%, China's Shanghai Composite Index falling 0.04%, Hong Kong's Hang Seng Index rising 0.60% and India's BSE Sensex falling 0.93%.
Economics
- U.S. new orders for manufactured durable goods rose 0.9% month-over-month to $289.3 billion in February.
- U.S. mortgage applications declined by 2% in the week ending March 21, compared to a 6.2% fall in the previous period.
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