Nasdaq Gains 150 Points; Starbucks Shares Rise After Strong Sales

U.S. stocks traded mostly higher this morning, with the Nasdaq Composite gaining around 150 points on Wednesday.

Following the market opening Wednesday, the Dow traded up 0.01% to 49,008.87 while the NASDAQ gained 0.63% to 23,967.68. The S&P 500 also rose, gaining, 0.31% to 6,999.99.

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Leading and Lagging Sectors

Consumer discretionary shares gained by 0.9% on Wednesday.

In trading on Wednesday, health care stocks fell by 0.7%.

Top Headline

Starbucks Corporation (NASDAQ:SBUX) shares gained around 5% on Wednesday after the company reported better-than-expected first-quarter sales results.

Starbucks posted adjusted earnings of 56 cents per share, missing market estimates of 59 cents per share. The company's sales came in at $9.915 billion, beating expectations of $9.630 billion.

Equities Trading UP
           

• Tian Ruixiang Holdings Ltd. (NASDAQ:TIRX) shares shot up 111% to $0.6766 after the company announced it entered into a strategic Memorandum of Understanding with SwiftStart
• Shares of Murano Global Investments Plc (NASDAQ:MRNO) got a boost, surging 64% to $2.2401.
• Smart Logistics Global Limited (NASDAQ:SLGB) shares were also up, gaining 80% to $3.6115.

Equities Trading DOWN

• CalciMedica, Inc (NASDAQ:CALC) shares dropped 81% to $0.9799 as the company announced discontinuation of Phase 2 KOURAGE trial in AKI following independent data monitoring committee recommendation.
• Shares of Virtuix Holdings Inc. (NASDAQ:VTIX) were down 36% to $15.50.
• TEN Holdings, Inc. (NASDAQ:XHLD) was down, falling 35% to $2.29.

Commodities

In commodity news, oil traded up 1.3% to $63.19 while gold traded up 3.7% at $5,272.90.

Silver traded up 8.4% to $114.830 on Wednesday, while copper rose 1.3% to $5.9390.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.7%, while Spain's IBEX 35 Index fell 1%. London's FTSE 100 fell 0.4%, Germany's DAX fell 0.4% and France's CAC 40 dipped 1.1% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei gaining 0.05%, Hong Kong's Hang Seng Index gaining 2.58%, China's Shanghai Composite rising 0.27% and India's BSE Sensex gaining 0.60%.

Economics

The volume of mortgage applications dipped by 8.5% from the previous week during the week ending Jan. 23.

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