Dow Surges Over 100 Points; JM Smucker Earnings Miss Views

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 100 points on Wednesday.

The Dow traded up 0.27% to 45,539.74 while the NASDAQ rose 0.11% to 21,568.68. The S&P 500 also rose, gaining, 0.16% to 6,476.15.

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Leading and Lagging Sectors

Energy shares jumped by 0.7% on Wednesday.

In trading on Wednesday, utilities stocks fell by 0.1%.

Top Headline

The J. M. Smucker Company SJM reported weaker-than-expected second-quarter results.

JM Smucker reported quarterly earnings of $1.90 per share which missed the analyst consensus estimate of $1.93 per share. The company reported quarterly sales of $2.113 billion which missed the analyst consensus estimate of $2.115 billion.

Equities Trading UP
           

• Top KingWin Ltd WAI shares shot up 141% to $0.2732.
• Shares of NovaBay Pharmaceuticals, Inc. NBY got a boost, surging 82% to $1.6346 after the company announced a one-time special cash dividend of $0.80 per share.
• Azitra, Inc. AZTR shares were also up, gaining 52% to $1.1510 after the company announced the dosing of its first patient in its Phase 1/2 trial of ATR04-48.

Equities Trading DOWN

• Next Technology Holding Inc. NXTT shares dropped 30% to $0.7161.
• Shares of AGM Group Holdings Inc. AGMH were down 25% to $1.9500.
• Kindly MD, Inc. NAKA was down, falling 21% to $6.35 after the company reported a $5 billion at-the-market equity offering program.

Commodities

In commodity news, oil traded up 0.6% to $63.64 while gold traded down 0.1% at $3,430.50.

Silver traded down 0.6% to $38.375 on Wednesday, while copper fell 1.2% to $4.4760.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 rose 0.1%, while Spain’s IBEX 35 Index fell 0.6%. London’s FTSE 100 fell 0.2%, Germany’s DAX 40 fell 0.4% and France’s CAC 40 rose 0.5% during the session.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan’s Nikkei 225 gaining 0.30%, Hong Kong’s Hang Seng dipping 1.27% and China’s Shanghai Composite declining 1.76%.

Economics

The volume of mortgage applications declined by 0.5% from the previous week in the third week of August, following a 1.4% decline in the prior month.

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