U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 100 points on Wednesday.
The Dow traded up 0.20% to 38,662.69 while the NASDAQ rose 0.64% to 16,041.08. The S&P 500 also rose, gaining, 0.53% to 5,105.72.
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Technology Sector Leads the Way
Information technology shares jumped by 1.1% on Wednesday.
In trading on Wednesday, consumer discretionary shares fell 0.3%.
Campbell Soup Delivers Strong Earnings
Campbell Soup Company reported better-than-expected earnings for its second quarter.
The company posted a second-quarter FY24 decline of 1.2% year-on-year to $2.46 billion, beating the analyst consensus estimate of $2.44 billion. Adjusted EPS of 80 cents beat the consensus estimate of 77 cents.
Stocks on the Rise
Shares of Aptorum Group Limited surged 595% to $11.60 after the company announced strategic agreements.
TRxADE HEALTH, Inc. saw its shares soar 112% to $17.06 following an announcement of a special cash dividend.
Rail Vision Ltd. experienced a 77% increase, reaching $3.4799 after a major commercial installation.
Stocks on the Decline
Entravision Communications Corporation shares dropped 51% to $1.7398 due to a program closure notice.
Neptune Wellness Solutions Inc. shares fell 47% to $0.1970 following a delisting decision.
bioAffinity Technologies, Inc. witnessed a 50% decrease to $1.51 after financial announcements.
Commodity Market Overview
Oil traded up 1.7% to $79.45 while gold traded up 0.8% at $2,158.60.
Silver rose 2.1% to $24.49 on Wednesday, with copper also climbing 0.7% to $3.8745.
European Developments
European shares closed higher with various indices showing positive movements, reflecting economic stability and growth.
Construction PMI data indicated improvements in key European economies, encouraging market sentiment.
Asia Pacific Markets Update
Asian markets displayed mixed results, with fluctuations in major indices like the Nikkei and Hang Seng.
Key Economic Indicators
Reports on U.S. mortgage applications, private sector job growth, wholesale inventories, job openings, economic optimism, and crude oil inventories were released.
These indicators offer insights into the current economic landscape and potential market trends.
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