U.S. stocks traded lower this morning, with the Dow Jones index dipping more than 250 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.63% to 42,654.26 while the NASDAQ fell 0.47% to 18,486.46. The S&P 500 also fell, dropping, 0.33% to 5,831.63.
Leading and Lagging Sectors
Utilities shares rose by 0.5% on Wednesday.
In trading on Wednesday, consumer discretionary shares fell by 0.9%.
Top Headline
Boeing Co (NYSE:BA) reported a loss for the third quarter on Wednesday.
The company posted a 1% year-over-year revenue decline to $17.854 billion in the third quarter of 2024, missing the consensus of $17.931 billion. Adjusted loss per share expanded to $10.44 from $3.62 in the same quarter of 2023, missing the consensus of $10.34.
Equities Trading UP
- La Rosa Holdings Corp. (NASDAQ:LRHC) shares shot up 164% to $1.3300 after the company reported preliminary 9-moth revenue growth of 120% year over year.
- Shares of CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) got a boost, surging 90% to $0.2979. The company requested a panel hearing for November 5, 2024, and will be subject to a halt in the suspension or delisting decision until then.
- Virax Biolabs Group Limited (NASDAQ:VRAX) shares were also up, gaining 87% to $3.1197 after the company announced a distribution agreement with Europa Biosite to commercialize the ImmuneSelect research-use portfolio in the United Kingdom and Ireland.
Equities Trading DOWN
- Alto Neuroscience, Inc. (NYSE:ANRO) shares dropped 62% to $5.53 after the company announced topline results from a Phase 2b trial evaluating ALTO-100 as a treatment for major depressed disorder did not meet its primary endpoint.
- Shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) were down 26% to $0.3960.
- Aptevo Therapeutics Inc. (NASDAQ:APVO) was down, falling 26% to $0.2616.
Commodities
In commodity news, oil traded down 1.3% to $70.80 while gold traded down 0.5% at $2,747.40.
Silver traded down 2.5% to $34.180 on Wednesday, while copper fell 1.3% to $4.3240.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX fell 0.2% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 fell 0.5%.
Asia Pacific Markets
Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.80%, Hong Kong's Hang Seng Index gaining 1.27%, China's Shanghai Composite Index gaining 0.52% and India's BSE Sensex falling 0.17%.
Singapore's annual inflation rate eased to 2.0% in September versus 2.2% in the previous month.
Economics
U.S. mortgage applications declined by 6.7% from the previous week during the third week of October, following a 17% dip in the earlier period.
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