Toward the end of trading Wednesday, the Dow traded up 0.42 percent to 25,533.69 while the NASDAQ climbed 0.32 percent to 7,437.98. The S&P also rose, gaining 0.35 percent to 2,754.39.
Leading and Lagging Sectors
Wednesday afternoon, the energy shares climbed 1 percent. Meanwhile, top gainers in the sector included Alta Mesa Resources, Inc. AMR 14.76% up 12 percent, and Abraxas Petroleum Corporation AXAS 4.02% up 6 percent.
In trading on Wednesday, utilities shares fell 0.6 percent.
Top Headline
DISH Network Corp DISH 7.68% reported weaker-than-expected earnings for its fourth quarter.
DISH earned $0.64 cents per share in the fourth quarter on revenue of $3.31 billion. However, analysts were expecting the company to earn $0.67 per share on revenue of $3.28 billion.
Equities Trading UP
Diebold Nixdorf, Incorporated DBD 42.09% shares got a boost, shooting up 39 percent to $7.26 after reporting upbeat Q4 sales.
Shares of ReWalk Robotics Ltd. RWLK 26.07% shot up 27 percent to $0.3424 after the company announced Cigna will adopt national policy coverage of personal exoskeleton devices.
Lattice Semiconductor Corporation LSCC 26.93% shares were also up, gaining 28 percent to $10.46 after reporting a fourth-quarter sales beat. The company issued strong first-quarter sales guidance.
Equities Trading DOWN
McDermott International, Inc. MDR 23.6% shares dropped 24 percent to $7.11. McDermott projects adverse change in Q4 results of $168 million for Cameron Liquefied Natural Gas project, citing 'unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.'
Shares of Aquantia Corp. AQ 19.01% were down 22 percent to $7.70 after the company reported downbeat Q4 results.
Groupon, Inc. GRPN 11.11% was down, falling around 14 percent to $3.42 after reporting weaker-than-expected earnings for its fourth quarter on Tuesday.
Commodities
In commodity news, oil traded up 2.11 percent to $54.22 while gold traded up 0.14 percent to $1,315.80.
Silver traded down 0.22 percent Wednesday to $15.655, while copper fell 0.09 percent to $2.7695.
European shares closed higher today. The eurozone’s STOXX 600 climbed 0.6 percent, the Spanish Ibex Index fell 0.01 percent, while Italy’s FTSE MIB Index surged 0.93 percent. Meanwhile the German DAX climbed 0.37 percent, and the French CAC 40 surged 0.35 percent while U.K. shares rose 0.81 percent.
Economics
The Consumer Price Index was unchanged for January, versus economists’ expectations for a 0.1 percent drop.
Domestic crude supplies climbed 3.6 million barrels for the week ended February 8, the Energy Information Administration reported. However, analysts expected a gain of 2.7 million barrels. Gasoline stockpiles rose 400,000 barrels, while distillate stockpiles climbed 1.2 million barrels last week.
The U.S. federal government posted a budget deficit of $14 billion for December, the Treasury Department reported. However, analysts were projecting a deficit of $11 billion.
Benzinga does not provide investment advice. All rights reserved.
Recommended Content
Editors’ Picks
EUR/USD fluctuates near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold stays in consolidation above $2,300
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.