Midway through trading Wednesday, the Dow traded up 0.04 percent to 19,863.03 while the NASDAQ declined 0.21 percent to
5,540.13. The S&P also fell, dropping 0.13 percent to 2,265.84.
Leading and Lagging Sectors
Utilities shares gained around 0.66 percent in trading on Wednesday. Meanwhile, top gainers in the sector included Korea
Electric Power Corporation (ADR) (NYSE: KEP), and Cia
Energetica de Minas Gerais CEMIG-ADR (NYSE: CIG).
In trading on Wednesday, healthcare shares fell by 1.24 percent. Meanwhile, top losers in the sector included CTI BioPharma
Corp (NASDAQ: CTIC), down 6 percent, and Achillion
Pharmaceuticals, Inc. (NASDAQ: ACHN), down 7
percent.
Top Headline
SUPERVALU INC. (NYSE: SVU) reported
weaker-than-expected earnings for its third quarter on Wednesday.
Supervalu posted Q3 adjusted earnings of $0.05 per share on revenue of $3.0 billion. Analysts were expecting earnings of $0.13
per share on revenue of $3.8 billion.
Equities Trading UP
Derma Sciences Inc (NASDAQ: DSCI) shares shot up
39 percent to $6.95 after the company agreed to be acquired by Integra Lifesciences Holdings Corp (NASDAQ: IART) for $7.00 per share in cash.
Shares of Enphase Energy Inc (NASDAQ: ENPH) got a
boost, shooting up 18 percent to $1.33 after the company reported a $10 million strategic investment from T.J.Rodgers and John
Doerr.
E-compass Acquisition Corp. (NASDAQ: ECAC) shares
were also up, gaining 20 percent to $11.89 after the company announced plans to merge with NYM Holding, Inc.
Equities Trading DOWN
Novadaq Technologies Inc. (NASDAQ: NVDQ) shares
dropped 19 percent to $6.16 after the company issued a weak sales forecast.
Shares of Ethan Allen Interiors Inc. (NYSE: ETH) were
down around 8 percent to $32.10 after the company issued a weak outlook for the second quarter.
EnteroMedics Inc (NASDAQ: ETRM) was down, falling
around 46 percent to $15.07 after rising 56.50 percent on Tuesday.
Commodities
In commodity news, oil traded up 2.50 percent to $52.09 while gold traded up 0.22 percent to $1,188.10.
Silver traded down 0.64 percent Wednesday to $16.74, while copper fell 0.13 percent to $2.61.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.20 percent, the Spanish Ibex Index declined 0.58
percent, while Italy’s FTSE MIB Index rose 0.38 percent. Meanwhile the German DAX gained 0.51 percent, and the French CAC 40 fell
0.02 percent while U.K. shares rose 0.21 percent.
Economics
The MBA’s index of mortgage application activity rose 5.80 percent for the week ended January 6, 2017.
Crude oil supplies increased 4.1 million barrels for the week ended January 6, the U.S. Energy Information Administration
reported. However, analysts were expecting a gain of 1.8 million barrels. Gasoline supplies gained 5.02 million barrels, while
distillate stockpiles rose 8.36 million barrels.
The Treasury will auction 10-year notes at 1:00 p.m. ET.
New York Federal Reserve Bank President William Dudley is set to speak in New York at 1:20 p.m. ET.
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