U.S. stocks traded higher this morning, with the Dow Jones gaining more than 300 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.91% to 33,543.56 while the NASDAQ rose 1.55% to 12,683.73. The S&P also rose, gaining, 1.19% to 4,224.93.
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Leading and Lagging Sectors
Information technology shares rose by 2.9% on Wednesday. Meanwhile, top gainers in the sector included Enphase Energy, Inc. (NASDAQ:ENPH), up 15% and JinkoSolar Holding Co., Ltd. (NYSE:JKS) up 11%.
In trading on Wednesday, communication services shares dipped by 1.3%.
Top Headline
Boeing Company reported wider-than-expected first quarter loss.
Boeing’s adjusted core loss came in at $2.75 per share, versus analysts’ estimates of a $0.25 per share loss. Group revenues declined 8% from last year to $14 billion, versus analysts' expectations of $16.02 billion
Equities Trading UP
Nutex Health, Inc. (NASDAQ:NUTX) shares shot up 30% to $9.96 after jumping 74% on Tuesday.
Shares of TradeUP Global Corporation (NASDAQ:TUGC) got a boost, shooting 17% to $10.78.
Repligen Corporation (NASDAQ:RGEN) shares were also up, gaining 13% to $161.00 after reporting upbeat Q1 results.
Equities Trading DOWN
Molecular Partners AG (NASDAQ:MOLN) shares tumbled 38% to $8.62. The company’s collaborating partner Amgen for MP0310 (AMG 506) will return the global rights of MP0310 to Molecular Partners following a strategic pipeline review.
Shares of Agile Therapeutics, Inc. (NASDAQ:AGRX) were down 26% to $3.31 following effectiveness of 1:40 reverse stock split.
NCR Corporation (NYSE:NCR) was down, falling 21% to $29.44 after the company reported worse-than-expected Q1 EPS and sales results. The company also cut its FY22 EPS and sales guidance.
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Commodities
In commodity news, oil traded down 1.4% to $100.28, while gold traded down 0.9% to $1,886.50.
Silver traded down 0.1% Wednesday to $23.525 while copper fell 0.2% to $4.4535.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 0.8%, London’s FTSE 100 gained 0.8%, while Spain’s IBEX 35 Index rose 0.6%. The German DAX gained 0.5%, French CAC 40 climbed 0.9% and Italy’s FTSE MIB Index gained 0.7%.
The consumer confidence in France declined to 88 points in April from a revised reading of 90 points in March, while GfK Consumer Climate Indicator in Germany fell to -26.5 heading into May.
Economics
The goods trade deficit in the US rose to $125.3 billion in March from $106.3 billion in the previous month.
U.S. wholesale inventories rose 2.3% month-over-month to $837.7 billion in March.
The pending home sales index fell 1.2% for March.
The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
The Treasury is set to auction 5-year notes at 1:00 p.m. ET.
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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 82,789,710 cases with around 1,019,000 deaths. India confirmed a total of at least 43,065,660 cases and 522,370 deaths, while Brazil reported over 30,378,060 COVID-19 cases with 662,940 deaths. In total, there were at least 510,925,220 cases of COVID-19 worldwide with more than 6,249,430 deaths.
