Nasdaq Dips Over 400 Points; Eli Lilly Shares Surge Following Upbeat Earnings

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling more than 400 points on Wednesday.

The Dow traded up 0.24% to 49,358.09 while the NASDAQ dipped 1.87% to 22,819.29. The S&P 500 also fell, dropping, 0.89% to 6,856.40.

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Leading and Lagging Sectors

Energy shares gained by 1.7% on Wednesday.

In trading on Wednesday, information technology stocks fell by 2.1%.

Top Headline

Eli Lilly and Co. (NYSE:LLY) stock jumped around 10% on Wednesday after the company released better-than-expected fourth-quarter earnings and issued fiscal 2026 guidance.

Eli Lilly reported fourth-quarter adjusted earnings of $7.54 per share, beating the consensus of $6.67. The company’s sales reached $19.3 billion, beating the consensus of $17.96 billion.

Equities Trading UP
           

• Elong Power Holding Limited (NASDAQ:ELPW) shares shot up 54% to $1.39. Elong Power Holding announced closing of $7.6 million public offering.
• Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) got a boost, surging 48% to $202.81 after the company reported better-than-expected Q4 financial results.
• Enphase Energy, Inc. (NASDAQ:ENPH) shares were also up, gaining 36% to $50.80 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter sales guidance above estimates.

Equities Trading DOWN

• Mercury Systems, Inc. (NASDAQ:MRCY) shares dropped 23% to $76.26 after reporting second-quarter results.
• Shares of DSS, Inc. (NYSE:DSS) were down 31% to $0.9620 after the company announced pricing of $1.0 million underwritten public offering.
• Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was down, falling 25% to $0.1590 after the company announced a 1-for-25 reverse stock split.

Commodities

In commodity news, oil traded up 0.4% to $63.46 while gold traded down 0.5% at $4,909.70.

Silver traded up 1.6% to $84.615 on Wednesday, while copper fell 3.2% to $5.8945.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.03%, while Spain's IBEX 35 Index fell 0.09%. London's FTSE 100 gained 0.85%, Germany's DAX slipped 0.72% and France's CAC 40 gained 1.01% during the session.

Asia Pacific Markets

Asian markets closed higher on Wednesday, with Japan's Nikkei surging 0.78%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite rising 0.85% and India's BSE Sensex gaining 0.09%.

Economics

• The ISM Services PMI came in at 53.8 in January, unchanged from the revised reading of 53.8 in December and compared to market estimates of 53.5.
• The S&P Global composite PMI climbed to 53.0 in January from the preliminary level of 52.8 and up from December's reading of 52.7.
• U.S. crude stocks declined by 3.455 million barrels in the week ended Jan. 30, compared to market estimates of a 2 million-barrel draw.

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