Mid-Day Market Update: Crude Oil Up Over 2%; Diebold Nixdorf Shares Spike Higher


Midway through trading Wednesday, the Dow traded up 0.43 percent to 25,535.10 while the NASDAQ climbed 0.22 percent to 7,431.02. The S&P also rose, gaining 0.34 percent to 2,754.12.

Leading and Lagging Sectors

On Wednesday, the energy shares climbed 1.8 percent. Meanwhile, top gainers in the sector included Alta Mesa Resources, Inc. AMR 12.75% up 9 percent, and Crescent Point Energy Corp. CPG 5.77% up 6 percent.

In trading on Wednesday, utilities shares fell 0.4 percent.

Top Headline

DISH Network Corp DISH 8.13% 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 37.28% shares got a boost, shooting up 35 percent to $7.03 after reporting upbeat Q4 sales.

Shares of ReWalk Robotics Ltd. RWLK 28.59% shot up 30 percent to $0.3514 after the company announced Cigna will adopt national policy coverage of personal exoskeleton devices.

Lattice Semiconductor Corporation LSCC 26.77% shares were also up, gaining 24 percent to $10.14 after reporting a fourth-quarter sales beat. The company issued strong first-quarter sales guidance.

Equities Trading DOWN

McDermott International, Inc. MDR 23.12% shares dropped 24 percent to $7.05. 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 22.04% were down 23 percent to $7.62 after the company reported downbeat Q4 results.

Groupon, Inc. GRPN 13.64% was down, falling around 15 percent to $3.3865 after reporting weaker-than-expected earnings for its fourth quarter on Tuesday.

Commodities

In commodity news, oil traded up 2.28 percent to $54.31 while gold traded up 0.2 percent to $1,316.20.

Silver traded up 0.01 percent Wednesday to $15.69, while copper rose 0.07 percent to $2.774.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 climbed 0.76 percent, the Spanish Ibex Index rose 0.08 percent, while Italy’s FTSE MIB Index surged 1.05 percent. Meanwhile the German DAX climbed 0.67 percent, and the French CAC 40 surged 0.59 percent while U.K. shares rose 0.78 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. Treasury budget report for December will be released at 2:00 p.m. ET.

Benzinga does not provide investment advice. All rights reserved.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD: it's all about the Fed

The greenback closed the week on a high note, as data released Friday topped the market's consensus, suggesting that the US economy remains in good shape, and therefore the US Federal Reserve won't need to take a dovish turn.

EUR/USD News

GBP/USD recovers to 1.2600 as UK politics become clearer

While overall US Dollar (USD) strength continues to dominate market sentiment, the GBP/USD pair recovers to near 1.2600 as an outcome of the UK PM’s race becomes clearer during early Monday.

GBP/USD News

USD/JPY: Tokyo open welcomes risk-on amid quiet trading

The USD/JPY pair trades little positive to 108.60 by the time Tokyo markets open on Monday. Lack of major negative news triggered a market move against the US Dollar.

USD/JPY News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Alone in the dark of outer space...heading to the Moon

It is almost usual practice of the Crypto market that technical extremes occur at the end of the working week – setting the stage for action over the weekend.

Read more

Gold surges through $1350 level, highest since April 2018

Gold caught some aggressive bids in the last hour and surged to the highest level since April 2018, around the $1358 region.

Gold News

Majors

Cryptocurrencies

Signatures