US stocks traded higher this morning, with the Dow Jones index gaining about 250 points on Wednesday.
The Dow Jones rose 0.55% to 47,970.89, while the NASDAQ rose 0.65% to 23,982.73. The S&P 500 also rose, gaining 0.33% to 6,913.53.
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Leading and lagging sectors
Information technology stocks rose 1.4% on Wednesday.
In trading on Wednesday, real estate stocks fell 1.1%.
Top head
Verizon Communications (NYSE:VZ) reported mixed third-quarter financial results and reaffirmed 2025 guidance.
The company reported quarterly revenue growth of 1.5% year-over-year (Y/Y), to $33.8 billion, missing analysts’ consensus estimate of $34.3 billion. Adjusted earnings per share of $1.21 beat analysts’ consensus estimate of $1.19.
Stock trading UP
- Cambium Networks Corp (NASDAQ:CMBM) shares rose 209% to $1.91 after the company announced the integration of its Cambium ONE Network solution with Starlink satellite internet services.
- Shares of Purple Biotech Ltd – ADR (NASDAQ:PPBT) got a boost, rising 118% to $1.27 after the company achieved a commercially viable yield for IM1240, positioning the program for future development.
- Founder Group Ltd (NASDAQ:FGL) shares also rose, rising 54% to $0.69.
Stock trading DOWN
- Advent Technologies Holdings Inc (NASDAQ:ADN) shares fell 51% to $1.33.
- Shares of Stride Inc (NYSE:LRN) fell 47% to $82.04 after the company gave second-quarter sales guidance that was below analyst estimates.
- Hero Systems Inc (NASDAQ:VRNS) fell 44% to $35.14 after the company reported third-quarter revenue below expectations and gave below-expectations for the fourth quarter.
Raw materials
In commodities news, oil rose 0.3% to $60.31, while gold rose 1% to $4,022.90.
Silver rose 1.6% to $48.075 on Wednesday, while copper rose 1% to $5.2205.
Eurozone
European shares were mixed today. The euro zone’s STOXX 600 rose 0.1%, while Spain’s IBEX 35 Index rose 0.4%. London’s FTSE 100 rose 0.7% during the session, Germany’s DAX 40 fell 0.3% and France’s CAC 40 fell 0.2%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan’s Nikkei 225 rising 2.17%, China’s Shanghai Composite gaining 0.70% and India’s BSE Sensex gaining 0.44%.
Economy
U.S. mortgage application volume rose 7.1% from the previous week in the period ending October 17.
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