Following the market opening Wednesday, the Dow traded up 0.56% to 26263.43 while the NASDAQ rose 0.75% to 7,932.85. The S&P also rose, gaining 0.62% to 2,924.13.
Leading and Lagging Sectors
In trading on Wednesday, utilities shares fell 0.1%.
Navistar International Corp (NYSE: NAV) reported better-than-expected Q3 results.
Navistar reported third-quarter earnings of $1.56 per share, which beat the analyst consensus estimate of $1.17. The company reported quarterly sales of $3 billion, which beat the analyst consensus estimate of $2.89 billion.
Equities Trading UP
OpGen, Inc. (NASDAQ: OPGN) shares shot up 64% to $10.70 after the company announced it will acquire Curetis.
Shares of Top Ships Inc. (NASDAQ: TOPS) got a boost, shooting up 28% to $8.50 after the company reported H1’19 sales of $29.8 million, compared to $19.8 million year over year. The company also reported a loss of $600,000, compared to a loss of $6.6 million in the same period last year.
Clearside Biomedical, Inc. (NASDAQ: CLSD) shares were also up, gaining 53% to $0.8950 after the company announced an option and license agreement for exclusive worldwide rights to its SCS Microinjector with REGENXBIO.
Equities Trading DOWN
Eltek Ltd. (NASDAQ: ELTK) shares tumbled 22% to $4.70 after the company reported Q2 sales lower from last year.
Shares of Vera Bradley, Inc. (NASDAQ: VRA) were down 20% to $8.48 following downbeat Q2 earnings.
USA Technologies, Inc. (NASDAQ: USAT) was down, falling 17% to $6.77 after the company disclosed that it has submitted letter to Nasdaq requesting added extension to regain compliance.
In commodity news, oil traded up 1.5% to $54.72, while gold traded down 0.8% to $1,543.30.
Silver traded up 0.5% Wednesday to $19.335, while copper rose 1.6% to $2.5675.
European shares were higher today. The eurozone’s STOXX 600 climbed 0.8%, the Spanish Ibex Index rose 0.7%, while Italy’s FTSE MIB Index rose 1.6%. Meanwhile, the German DAX rose 1% and the French CAC 40 climbed 1% while UK shares rose 0.4%.
Data on motor vehicle sales for August will be released today.
The U.S. trade deficit declined around 3% to $54 billion in July, versus a revised $55.5 billion in the previous month. However, economists expected a $53.4 billion deficit. U.S. exports increased 0.6% to $207.4 billion, while imports fell 0.1% to $261.4 billion.
Federal Reserve Member of the Board of Governors Michelle Bowman is set to speak in St.Louis, Missouri at 12:30 p.m. ET.
St. Louis Federal Reserve Bank President James Bullard will speak in St. Louis, Missouri at 12:30 p.m. ET.
Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in a livestreamed event at 1:00 p.m. ET.
The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.
Chicago Federal Reserve Bank President Charles Evans will speak in Detroit, Michigan at 3:15 p.m. ET.
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