Crude Oil Gains 2%; GE Vernova Shares Fall After Q2 Earnings

U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining more than 200 points on Wednesday.

The Dow traded up 0.40% to 52,432.64 while the NASDAQ declined 0.01% to 25,834.80.

The S&P 500 also rose, gaining, 0.20% to 7,524.26.

Leading and Lagging Sectors Utilities shares jumped by 1.8% on Wednesday.

In trading on Wednesday, information technology stocks fell by 0.6%.

Top Headline GE Vernova (NYSE: GEV ) shares fell around 6% on Wednesday after the company reported mixed second-quarter financial results.

GE Vernov reported quarterly earnings of $2.47 per share which missed the analyst consensus estimate of $3.13 per share.

The company reported quarterly sales of $11.104 billion which beat the analyst consensus estimate of $10.734 billion.

Equities Trading UP Lakewood-amedex Biotherapeutics Inc (NASDAQ: LABT ) shares shot up 128% to $4.24 after the company announced resistance data for Nu-3.

Shares of Super Micro Computer Inc (NASDAQ: SMCI ) got a boost, surging 23% to $31.37 after the company reported preliminary fourth-quarter financial results.

Arrowhead Pharmaceuticals Inc ( NASDAQ: ARWR ) shares were also up, gaining 26% to $93.59 after the company announced topline results for the global Phase 3 SHASTA-3 and SHASTA-4 clinical studies met their primary and secondary endpoints.

Equities Trading DOWN Adtran Holdings Inc ( NASDAQ: ADTN ) shares dropped 16% to $10.15 after the company preliminary second-quarter revenue guidance below prior estimates.

Shares of China Pharma Holdings Inc ( NYSE: CPHI ) were down 75% to $2.05 after the company announced the pricing of $5 million registered direct offering.

Pegasystems Inc (NASDAQ: PEGA ) was down, falling 13% to $26.76 after the company reported worse-than-expected second-quarter financial results.

Commodities In commodity news, oil traded up 2.1% to $86.06 while gold traded up 1.8% at $4,149.80.

Silver traded up 2.5% to $60.565 on Wednesday, while copper fell 0.5% to $6.5200.

Euro zone European shares were higher today.

The eurozone’s STOXX 600 rose 0.8%, while Spain’s IBEX 35 Index rose 1.3% London’s FTSE 100 rose 1.5%, Germany’s DAX gained 0.6%, while France’s CAC 40 surged 1.1%.

Asia Pacific Markets Asian markets closed mostly lower on Wednesday, with Japan’s Nikkei 225 falling 0.18%, Hong Kong’s Hang Seng index falling 0.95%, China’s Shanghai Composite rising 0.07% and India’s BSE Sensex falling 0.92%.

Economics The volume of mortgage applications surged by 1.9% in the week ending July 17.

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