US Stocks Mixed Ahead Of Fed Decision; Dow Surges 100 Points
U.S. stocks traded mixed this morning, with the Dow Jones index gaining around 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded up 0.23% to 47,669.92 while the NASDAQ fell 0.19% to 23,530.68. The S&P 500 also rose, gaining, 0.02% to 6,842.14.
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Leading and Lagging Sectors
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, information technology stocks fell by 0.6%.
Top Headline
Chewy Inc. (NYSE:CHWY) on Wednesday reported better-than-expected results for the third quarter.
The company posted adjusted earnings of 32 cents per share, beating the consensus of 13 cents and within the management guidance of 28-33 cents.
The retailer of pet supplies reported sales of $3.117 billion, up 8.3% year over year, compared to the consensus of $3.099 billion and the management guidance of $3.07 billion-$3.1 billion.
Equities Trading UP
- A SPAC III Acquisition Corp. (NASDAQ:ASPC) shares shot up 336% to $45.69.
- Shares of Beasley Broadcast Group, Inc. (NASDAQ:BBGI) got a boost, surging 135% to $9.52.
- Enveric Biosciences, Inc. (NASDAQ:ENVB) shares were also up, gaining 102% to $11.94. The Massachusetts-based biotech company received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application related to its EVM301 Series molecules, which are being developed as potential treatments for mental health disorders.
Equities Trading DOWN
- WORK Medical Technology Group LTD (NASDAQ:WOK) shares dropped 86% to $0.7876.
- Shares of Agape ATP Corporation (NASDAQ:ATPC) were down 82% to $0.2332.
- Pomdoctor Limited (NASDAQ:POM) was down, falling 73% to $1.4799.
Commodities
In commodity news, oil traded down 0.6% to $57.92 while gold traded down 0.2% at $4,227.60.
Silver traded up 0.3% to $60.990 on Wednesday, while copper rose 0.8% to $5.3615.
Euro zone
European shares were mixed today. The eurozone's STOXX 600 rose 0.1%, while Spain's IBEX 35 Index rose 0.1%. London's FTSE 100 rose 0.3%, Germany's DAX 40 fell 0.3% and France's CAC 40 fell 0.4% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei falling 0.10%, Hong Kong's Hang Seng gaining 0.42%, China's Shanghai Composite declining 0.23% and India's BSE Sensex declining 0.32%.
Economics
- U.S. compensation costs for civilian workers rose 0.8% in the third quarter, compared to a 0.9% gain in the previous period.
- The volume of mortgage applications increased 4.8% in the first week of December versus the previous week.
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